EUR 9.28 For Business Accounts Only

The Morning Track showers

- The Morning Track – Showers by Bob Savage
http://track.com/articles/the-morning-track-showers/

The mood swing in markets reflects the April weather – rain showers with more expected. Too much liquidity could be a bad thing and perhaps we can blame climate change, but that won’t stop it from falling, and for now the bond rallies globally reflect the headlines of Russian St.Petersburg terrorism, US weaker auto sales, Fed Harker sounding dovish, RBA sounding downbeat and on hold, BOJ Kuroda saying its not even appropriate to talk about exit strategies and Europe returning to a political focus with the French election not so certain as in March. The stories are enough to drive up safe-havens with JPY, CHF and Gold all perky despite the rain showers. Mood swings are not a great trading strategy unless you can call the weather. This leaves many wondering what can jolt fear factors away before Friday and that makes politics the likely key still with the Trump/Xi meetings driving more dread than hope, anything positive there could be an upside surprise. The US trade d
ata maybe a lightening rod to add to fear over greed today. The best guide for markets maybe rates today but the risk flashes yellow in gold with $1258 break opening $1292 next.