Wednesday, March 7, 2012

The EUR/USD Vs ES

This is an oddity, I fully expected ES overnight would drive a gap up this morning, but I expected some EU rumor to do it, thereby driving EUR/USD higher as well, apparently that didn't happen so it appears it was just pure technical manipulation.

 ES overnight from yesterday's close


EUR/USD overnight from yesterday's close

That explains why these dollar linked assets are underperforming...

 Copper

 Commodities in general

 GLD

USO

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