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Wave of US data
Today will bring a wave of US data including the trade balance and import prices and perhaps further US Dollar strength will follow in its wake. The falls in the Sterling - US Dollar and Euro - US Dollar exchange rates have been remarkable not only for their size and pace but for the lack of a corrective phase at any stage. If the US Dollar fails to push a cent lower against the Pound, we may well get that correction at long last and I know there are many US Dollar buyers desperate for the chance to grad some on the next bounce. I might offer just one suggestion; ‘market orders’ which are a currency traders best friend in these volatile times.
And finally, it is hard to believe that it has been 7 years since those dreadful scenes of the collapsing of the World Trade Centre’s Twin Towers shocked the world. Hard, in that those images seem to be so etched in our minds that it might have been just yesterday and hard because we seem to have been living under the cloud of those attacks for as long as I can remember. Let’s hope a change of presidency will change our perceptions of risk, let’s hope we never have to witness scenes like that again and let’s hope that a reduced perception of risk and real security from danger are not mutually exclusive.
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