Aside from great music, better football, cracking mullets and some suspect clobber?

It’s always in the mix as far as support and resistance. USD/JPY seeing it at 102.80/85, so is AUD/USD at 0.9080 now. EUR/GBP saw it at 0.8380 and we have our old mate up at 1.2280 in EUR/CHF previously (watch 1.2180 in it now). S&P saw it at 1880 and Gold has been 5 ticks from it today. Who knows but it is what it is.

China is forgotten about for now as were seeing broad based gains unfold across markets. Stock are just opening in the states and the S&P is looking to build on the move in the futures and very early trades have it +4 points to 1872 with the Dow up 36 to 16376. The Nasdaq is up12 to 4335. US 10 year yields are just at the highs at 2.75% from a low at 2.72%

We’ll see how far the US wants to take the data and the dollar amongst other things and I’ll be watching the S&P for a test of, you guessed it, the 80 level.

S&P daily chart 13 03 2014

S&P daily chart 13 03 2014

At 14.00 gmt we have January business inventory data from the States which saw inventories rising above sales to a ratio of 1.30. We’ll want to see that gap narrowed but expect the weather to be trotted out if it doesn’t. Expectations are for a rise of 0.4% following 0.5% in December

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