Summary:
·
Depending on your time frame, the Monday market
was choppy, with a bias toward the upside for today's trading.
·
CPI (consumer Price Index) may give some pause
as the Federal Reserve attempts to manage through a rising consumer inflation
and debt liquidation (except for the USA federal government).
·
Companies around the world are moving to trade
with China directly rather than trading through the US dollar. Swiss National Bank (SNB) and the People's
Bank of China just agreed to directly trad as much as 150 billion renminbi over
the next three years. This is just
admissions by the world, that China is due to remove the US dollar as the
reserve currency for trading, and if the pace of agreements continue, the
demise of the dollar as a reserve currency will be sooner rather than
later.
·
No surprises (that I know of) on the
geopolitical front. That suggests
Europe's stock market recovery overnight will hold through NY's opening, and
likely to be a day where price climbs the wall of worry. However, we are in summer trading months, and
one would expect volatility to be low.
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