Monday, March 19, 2007

Quiet Start....and a Slovakia Revaluation.

It's a monday morning, Stocks did well overnight and no new U.S. economic numbers of consequence this morning. All this seems to add up to a slow start to the day. Opening call is for Emerging Market currencies to start stronger.

Of some interest is the Revaluation in Slovakia. 8.5% against the Euro. This should trigger quicker rate cuts by the Central Bank. This move was unexpected as far as I can see. The new central rate for the currency is 35.4424 verses the previous 38.455. This morning on the open the currency touched 32.80, 3% stronger then the preivious close.

I will stay the course with all my positions.

Good Luck and Good Forex Trading.




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