Futures are rather quiet overnight with ES at unchanged from yesterday's 4 pm close.
There were some staggering numbers out of Europe with a new high in Eurozone unemployment of 11.7%, Greek Retail Sales fell by 12.2% in October, German Retail Sales fell to a 4 year low and US income for October fell for a 3rd straight month with Consumer Spending Collapsing.
ES went negative in pre-market and is now below the close at 4 pm yesterday, I'm not sure if that will be a positive divergence yet, it still could turn down which is my guess.
The EUR/USD saw a big pump just before the European open, I assume on the German Parliament approving the Greek aide tranche, the Euro broke the $1.30 mark again only to lose it. Now there are 3 or 4 other countries that still have to approve the 3rd Greek Bailout.
A mild start to the session.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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