Really, Larry? Do they really look better than they did a year ago?
A year ago, the US government had just helped engineer a bounce in the financial sector after forcing banks to raise billions in private capital, helping quell fears that there would be a systemic meltdown. Now the market is focused on all the debt incurred in that process and we know growth is not robust enough to begin trimming deficits meaningfully.
EUR/USD has broken back above 1.2300 and trades at 1.2314. 1.2340/50 is the near-term target and technical resistance as Wall Street gets underway.
