Just when you think, the market knew the Michigan number (maybe they did)...
The retail sales data was weaker (or was it according to Adam's post). PPI was weaker. The dollar fell, then reversed.
Michigan Consumer sentiment was stronger. New lows for the day at 1.0717 and boom. Right back up to 1.0750 area. Today, is do the opposite of what you think day I guess (it is Friday..). The 100 hour MA is at 1.0749 and the price is hanging around that level.
Remember the EURGBP chart from the GBPUSD post earlier? Well the EURGBP bottomed at the bottom and it has helped the EURUSD/hurt the GBPUSD. Roll reversal.
US stocks are not looking to great with the Nasdaq down 48 points. Gold is steady. It tested the 100 hour MA today at the highs and fell back down (see chart below). Oil has tumbled to $40.50 area. US bond yields are lower (2 year down 2 bp, 10 year down 3.5 bp, 30 year down 4 bp).
