Afternoon all. Well the risk on/off switch has been firmly switched to on again as stocks and commodities roar higher. As ever nothing much in the way of real weight behind the move, but hey that’s August trading for you. After last night’s shennanigans in the FX market, when some bright spark though it would be a good idea to sell 3 yards of Usd/Chf, I for one will be hoping for a somewhat quieter session. On the macro side of things we’ve got Personal Income and Consumption, while we also get the revision to the Michigan Consumer confidence reading of two weeks ago, which if you remember rightly pushed S&P Futures down to 975 on the following session.
Not hearing much in the way of market chatter apart from some decent sized bids in Eur/Usd down at the 1.4330 area.
