The forex markets are generally rather quite today as most major countries remained on holiday. After another day of free fall on Monday, US stocks futures point to higher open. DOW could recover by triple-digit but the sustainability of the rebound is questionable. There is no end in sight on US government shutdown. And, while we may feel refreshed after a holiday, the global economy won't. Today's rebound in US equities could just be setting itself up for another decline. And as usual, we'd listen, with tremendous caution, to people calling us to buy dips in bear markets. Anyway, for now, Australian Dollar is the strongest one for today, followed by New Zealand and then Canadian Dollar. Yen is the weakest followed by Swiss Franc, and then Euro. The picture could change quite drastically for the rest of the week. |
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