Thanksgiving is a big enough holiday to have the markets close in the United States. As investors and everyday traders we should probably take the time to reflect and be thankful that the crisis has not extended much deeper into the economy...at least not yet! The strong Q3 GDP was something to be thankful for; it had put aside fears of recession although now they start to show up again.
With our thanks expressed, "Black Friday" will be time to move on and look ahead. We should place plenty of emphasis on this weekend. On Monday we will get the first result from retailers and this should set the tone on whether we will have an end of year rally. Some analysts estimate that this will be the worst Christmas season in five years. This weekend will probably indicate how resilient U.S consumers are. Strong retail numbers will give the stock market a chance for an end of year rally. It could also mean that the crisis remains constrained to the housing and credit markets.
Thursday, November 22, 2007
Tuesday, November 20, 2007
New Record for the EUR/USD !!
The EUR/USD has set a new all-time high at 1.4793.
It has drifted back a bit to 1.4785 but everything seems to indicate that there could be another attempt today at 1.48. We will stay tuned.
Also coming up today, the minutes from the FED's latest meeting. This could provide some helpful insight to what Fed members were considering about future interest rates.
It has drifted back a bit to 1.4785 but everything seems to indicate that there could be another attempt today at 1.48. We will stay tuned.
Also coming up today, the minutes from the FED's latest meeting. This could provide some helpful insight to what Fed members were considering about future interest rates.
Subscribe to:
Posts (Atom)
