Tuesday, May 01, 2007

Happy May Day

Today is May Day which means throughout Europe, Mexico and Brazil there are National Holiday's. This translates to a very quiet session.

Yesterday the Mexican Finance Minister came out and stated that he felt the rate rise was pre-mature. hhhmmmm..well me too !

In talking to locals though it is clear to me that they are a bit concerned by increases in food prices. This could be what has led the Mexican CB to act. Also, do they know something that we do not? Entirely possible.

I have gone long small Euro this morning (1.3643), but only out of boredom and will look to purchase some Eurodollar interest rate futures today as I think Stocks can come under pressure in the coming sessions.

Good Luck and Good Forex Trading.



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