Flash: all euroyen
Eurodollars fell to below the 1.35 support because of the fierce euroyen is slip was triggered by Wally: I am courses to turn a bit of carry trade, mainly because those in euro after Trichet has seemed hesitant to June (ie raise rates to 4% in June, but remained vague on the post). Moral of the story: the yen has gained against the dollar (effect of bag) back below 120, but gained mostly on down to € 161.5. This led to a Eurodollar precisely to below 1.35 even if tomorrow's retail sales are envisaged weak in accordance with the statements from the major chains today.
PS One may hope that the fall of Wally is a harbinger of waiting corrections up to next Friday and a further loss of 3% -4% in profit would put on the combination of the SP500.
PS One may hope that the fall of Wally is a harbinger of waiting corrections up to next Friday and a further loss of 3% -4% in profit would put on the combination of the SP500.
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