UK and US Data


We have UK GDP and US Durables today as the BOE joins the ranks of liquidity-injecting CBs. Lots of interesting subplots:

  • AUDCAD breaking above 8750 and thus lifting USDCAD away from parity
  • Bond market sees inflation perking up (just like XAU)
  • Nasdaq 100 trades above pre-correction levels
  • GBP remains extremely weak, subprime worries seem to center on UK not US right now.
  • Canadian CP also feeling the pain - http://www.bloomberg.com/apps/news?pid=20601109&sid=as9QkuEv9Wqw&refer=home
  • Crude must correct!
I'm flat currently but I'll consider picking up USDCAD on a 20-30p retracement. Short-term target 1.0180.

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