What’s going on in the Markets
Stocks unwind across the board yesterday as Dow drops more then a 100 points sending carry trades on a corrective path. Watch the 1500 level in S&P post US data.#
USD stronger across the board yesterday, with no follow thorugh on the fixed income side. Today's US PPI and Retail Sales could very likely bring the inflation fear out in the open bring more USd strength across the board. Especially Cable looks vulnerable to the downside.
Precious metals lower with oil remaining range bound, expect more correction as the our preferred scenario in is for the USD to continue marginally stronger.