Wednesday, February 10, 2010
Euro - Dollar - Impact On Markets
Federal Reserve Chairman Ben Bernanke spoke on his long term stimulus exit strategy Wednesday mentioning the eventual “need to tighten financial conditions” by raising short-term interest rates.
Keep an eye on the Euro if European Central Bank disappoints tonight and tomorrow, you have a much stronger move higher on the dollar. $XEU SUPPORT 136...suggest paring back commodity positions on break below. Financials strong today...as I noted yesterday...BUY JPM!!! currently up 2.6% intraday.