Let's Review again what happened Yesterday. ISM non Manufacturing came out with disastrous results. Those Rally On DJIA late Last week, pretty cool huh. AND "BAM" all gone in one day. Risk Aversion is back in Full Swing resulting in Carry Trades Unwinding, Geez seriously why don't they just unwind the whole thing and start fresh???
Everyone Knows the problem is there to stay, fine a rate cut is helpful. But it's not going to help Immediately it takes time you know. Those Data are from before the Cut.
Well that aside Volatility is Back after a pretty boring start on Monday. Look at GBP/USD and EUR/USD. those are some fine moves there.
Equity Traders are cowering, afraid of uncertainty. But hey, we are in FOREX aren't we? does it matter? Ummm let me think....NOPE. We love it. it's finally Happening YAY. No more Range trading at least for GBP/USD. We Love Trends!!!!
I thought february is going to be boring... Guess i'm wrong there.
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