That of course begs the question, who will? One camp thinks emerging markets will create their own domoestic demand and drag their Big Brothers out of the mire, and in the process even the global playing field. Others, like me, worry that there will be no strong global growth engine, making recovery a sputtering affair for the next 18 months or so…
EUR/USD is range trading in the 1.3985 area, consolidating gains made after a robust rebound in the Philly Fed survey. It has had trouble overcoming the 1.4000 area thus far.
