EUR/USD is back below 1.2100 and US equities are modestly in the red after very poor Richmond Fed manufacturing data.
Looks like the market, at least today, has come to realize that quantitative ease is no panacea and it does little to improve risk appetites among core market participants. Sure, it gives fast -money guys a short-term sugar rush but it doesn’t do much beyond that.
Near-term, looks like we’re stuck in a 1.20651.2145 range with central bank sellers on rallies and protection of 1.2050 barriers on dips.
