Tuesday, December 15, 2009

Update

dow jones (dj30) bounces at support level (s1 10438) in what appears to be thin trading. no follow though yet with strong resistance at the 10511. oil still holding onto gains after a rapid move higher. Move lower in dow seems to be being blamed on inflation statistics. Higher oil is the result with opec making a strategic move to manipulate oil higher. The key concern now is US fed reserve expectations to raise rates in the future ie the exit plan. Still much data yet to be released this week of the currencies I follow (usd, eur, aud, cad, gbp). Of major concern is US federal reserve stance and the fate of the US dollar in 2010 and the concern of near zero interest rates.

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