Happy days are here again? Man, I hope so. The Dow is now up over 100 points after adsorbing an extremely weak US employment report. We’re a thousand points above the recent bottom after two hideous weeks of economic headlines. That’s a good sign indeed. If you’re a believer in the idea that US equities have bottomed and credit markets are in the process of thawing these a cheap levels to buy high-Alpha trades like AUD/JPY or GBP/JPY. I’m too chicken myself.
EUR/JPY has bounced as high as 118.40 after working through 118.20/30 region. I’m done fading that one for this week.
