AUTOREFRESH 
It’s a risk free world…
By Jamie Coleman || July 27, 2010 at 12:16 GMT
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With the stress tests out of the way, the market has turned its focus toward the global macro backdrop.
China is doing what China does, chugging out loads of exports and spending bucket-loads on building out an infrastructure from scratch. It may be slowing at the margin, but that is by design.
Europe has slowed far less dramatically than the market as a result of the sovereign debt crisis and the US is showing pockets of strength amid a general slowdown. All in all, not a horrible backdrop.
The market is reflecting that backdrop, selling the safe-haven dollar and buying pretty much everything else. In a reflationary world, that is a virtuous cycle. Long may it last…
Calm seas and blue skies ahead?
Hi Jamie. Do you think we will see EURUSD reach 1.3100 today?
wow, that has the makings of a potential huge head and shoulders.
I think so Elliot. This second half of the year will be better than the first. Just watch out.
I should have gone on holiday.
I expect EURUSD to hit 1.3090 today.
No oil spill, no bark default, everyone’s on holiday… marvelous!
http://www.youtube.com/watch?v=hv4gYHlqTds (Nat King Cole)
[...] 2010 at 14:34 GMT || 0 comments || Add comment In the middle of last week I tried to explain the macro picture as I saw it unfolding. I still see it unfolding the same way. It is worth a read if you missed it. Share and [...]