U.K. Inflation Still Hot Topic with Bank of England
Dollar Crumbles as Obama Fails to Win Any Friends with State of Union Speech
Volatile Stock Session Finishes with Short-Covering ahead of Jobs Report
U.S. stock markets plunged sharply lower in a volatile trading session on Thursday as investors bailed out of equities on concerns about the economy. If this had been a normal trading day, the markets would have been under pressure into the close but short-covering ahead of Friday’s jobs report helped to limit losses.
Dollar Soars as China Surprises Markets with Reserve Requirement Hike
The U.S. Dollar is soaring as China surprised the Forex markets with a 50 basis point hike in its bank reserve requirements. This move by China is an attempt to cool credit without tightening interest rates. The intention of China’s central bank is not to derail the economy but to preserve its expansion.
02/07/09 S&P Emini Stock Index & Futures Weekend Webinar
Week Ends with Forex Traders Still Concerned about Greece Debt Situation
The trading week ended with traders still fearing a widening and deepening debt situation in the Euro Region. Optimistic traders are looking for some solution to be reached by either a “pseudo-bailout” by the European Central Bank or European Union. Legally, the ECB or EU cannot offer an outright bailout package so they may have to figure out a way to get around this restriction.