Paul Nolte from Hinsdale Associates remarked on Monday that the petulant markets are just not happy with just any gift, they wanted a half point rate cut from the Fed and sat in the corner and pouted when they didn’t get it.
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Poor performance in the stock markets are making investors nervous again about the viability of carry trades. The US dollar strengthened today - Swissy rose to an intraday high around 1.1575 and EUR/USD made its foray below the H&S, touching 1.4330 before bouncing up again. The fading of US recession fears at the moment could [...]
The euro fell versus the greenback and the pound but remained uncertain against the yen Monday morning in New York. This comes on Euro Zone PMI data signaling slower economic growth in Euro zone in December.
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