Emerging Markets Remain Bullet Proof
In spite of an unepectedly high PPI number 1.3% against .5 expected and weaker Empire Manufacturing and Philly Fed Emerging Market currencies continue to strengthen. Today was certainly strange. Interest rates in the States traded slightly higher which say to me that the market is putting more weight on the inflation number over the slowing economy. Greenspan certainly isn't helping the situation. I definitly believe that everyone is entitled to speak their mind, but I am sure Mr Bernanke would love for him to keep quiet. I do not remember Volcker on a press tour after his duties at the Fed were done.
I currently still have my interest rate plays in Brazil,Mexico and Argentina. I cut my spot Argentina position. I (finally) bought some Euro's and sold some more dollars against the Mexico.
These markets have not been easy and I am still abit concerned that Stocks may (I repeat MAY) move lower.
Good Luck and Good Forex Trading.
FXTRADINGIDEAS@AOL.COM
I currently still have my interest rate plays in Brazil,Mexico and Argentina. I cut my spot Argentina position. I (finally) bought some Euro's and sold some more dollars against the Mexico.
These markets have not been easy and I am still abit concerned that Stocks may (I repeat MAY) move lower.
Good Luck and Good Forex Trading.
FXTRADINGIDEAS@AOL.COM
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