AT&T announces big job cuts, Merck cuts its earnings guidance all but WalMart miss sales projections…Looks like it is going to be a tough opeing on Wall Street this morning. EUR/USD has edged down to 1.2600 as Trichet paints a very dark picture for the European economy going forward. His view is so dour, it begs the question why they only cut 75 bp…
We’re just here reports of central bank (Bank for International Settlements) demand now at 92.70 level in USD/JPY so be careful of loading up on the risk aversion trade as the Japanese authorities appear to be paying close attention to forex rates at the moment.
