Currency
markets are simply waiting for the US Fed meeting on Wednesday to try and latch
onto something it says about the US economy and of course the potential taper
talk or even the possible expansion of the $85 Billion a month in asset
purchases. As I mentioned yesterday we expected the markets to rise a bit and
then fall a bit and the direction was nothing short of lackluster.
 |
| LTG GoldRock Reviews by Andrew Barnett |
There was
simply no news to get things rolling.
One
notable piece of news overnight that does not go well for the housing sector in
the USA was the drop in Pending Home Sales which dragged on to a fourth
straight month of declines this time down 5.6%. The trading ranges on all the
major currencies were tight and the only piece of news today that might break
the shackles is US Retail Sales.
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