Friday, May 10, 2013

Quick Morning Thoughts

Sorry I have not had much to say this week but I honestly believe the markets are so distorted, why bother coming up with things to talk about if things just make no sense.  Europe, Japan, The U.K. and The U.S economies are a mess with little global growth taking place during these current times and the Global Stock Indices continue to rise with reckless abandon, in my opinion. The Dollar is now getting a decent bid as in the past 24 hours the YEN and my Aussie have now broken parity with the dollar. Surprised, no I am not by the Yen, however the Aussie should be setting the alarm bells off! Australia released solid unemployment numbers just a few sessions ago and  the Aussie reacted by exploding higher above 10260, since then it has been all down hill as we now are trading at 9985. I here rumors of George Soros shorting the Aussie, could be, but again that was just a rumor I picked up on Social media. I truly think the Aussie is getting hit because of slowing growth in China!

The only currency that has been trading well against the dollar is the CAD, currently at 9920. Canadian unemployment will be released this morning, I will be watching the reaction. We also have a speech by Ben Bernanke this morning, what more can this man do for the markets? The G7 is meeting this weekend just so you know. Let's see how we finish the week, I will have more this weekend as far as charts on certain markets catching my eye this past week.

Be Careful out there, especially with the Metals, I do not like how Gold plummeted through that 1440 level and the Crimex in NY has yet to open!

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