Well what can i say... 2008 first week has been quite okay everthing is going according to plan and i need the motivation and strength to carry on (Fighting Spirit)...
Financial corner: Japan Nikkei 225 first trading day drop 616.37(4%). Hang Seng up 2.35% on friday... STI up 40.730 (1.99%). Asia side doing okay apart from Japan again maybe is too much holiday for them start so late... Dow's trade on friday was a dissapointing one... Before the opening bell, NFP(a leading economic indicator) was 18K vs 115k....and unemployment change was 5&vs expected 4.8%. Immediately after that futures drop sharply... If that was'nt bad enough... NASDAQ mostly unaffected by supprime showed that it indeed is what goes around comes around.... futures start with a disappointing start and end the day with -98.03(-3.77%). Never in my trading life have i seen such a large drop in nasdaq. S&P 500 not spared either it is now testing 1400 trendline if this goes EUR,CHF & GOLD will shoot for the moon...
Bonds is also under fire, 2, especially 5 is testing dangerous grounds, 10 years also hanging loose... let's see what the FED does...
Forex corner: EUR and CHF doing best, GBP okay okay but showing some signs of weakness(maybe GBP/JPY unwinding...)... AUD still affected by AUD/JPY. NZD one of the risker currencies also didn't perform much better... Best Bet for now is EUR/AUD... Carry trade stay out but look for good deals as it may snap around anytime.
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