Currency Wars & Low Volume = Grid Lock (SPY)

The daily, er should i say nightly gyrations in the currency markets is really testing the patience of traders across the world. The low volume environment of the futures are making for violent swings in after hours trading and lack of cash session volatility or trend... gridlock..

 All of these traders are waiting on a few key events to take place.. Europe to collapse or Germany to bail them out. United States debt downgrade a definitive confirmation of a move higher in equities over 1280-1300 level or a break down into February.

Whichever scenario plays out we are not going to go anywhere until one of them does play out.


The 79-82 level in us dollar futures is the channel we need to get either above or below... Tomorrow we have quiet a bit of numbers coming...


8:30CPIDec0.3%0.4%0.1%
Jan 1408:30Core CPIDec0.1%0.1%0.1%
Jan 1408:30Retail SalesDec1.0%0.7%0.8%
Jan 1408:30Retail Sales ex-autoDec0.8%0.6%1.2%
Jan 1409:15Industrial ProductionDec0.6%0.4%0.4%
Jan 1409:15Capacity UtilizationDec75.7%75.5%75.2%
Jan 1409:55Mich SentimentJan75.575.574.5
Jan 1410:00Business InventoriesNov0.9%0.8%0.7%
via. Briefing.com

Remember 3 day weekend coming up ... MLK day Monday.. They gonna suck VOL out ahead of time tomorrow starting probably around noon to account for weekend and monday theta...

Posted in: CORE CPI,Currency,MLK day,retail sales,SPOOZ