Down went the dollar

Wow down went the USD and up went everything else!!

 So the FOMC statement came out yesterday: 

“the committee will continue to monitor the economic outlook and financial developments and is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation, over time, to levels consistent with its mandate.”

Seems like there are still issues the US needs to face.

We saw the yen strengthen down to a low of 84.84, and seems like Minister Kan could possible intervene again in the markets. But don’t think it’s going to happen before his meeting with Obama. So be cautious on the yen.

Euro took out stops all the way up to 1.3285 this morning Asian time. The next strong resistance looks to be 1.3334 which was the high on August 6^th.

Data Today

Australia Westpac leading indicators

Eurozone industrial new orders – 9am GMT

Eurozone consumer confidence – 2pm GMT

US house price index – 2pm GMT