With the European day traders having bowed out of the market, leaving the London lads the last to go, USD/CHF receded into a mind-numbing 1.2180-90 stultifying range, or as some traders are describing it "quote", as they do not feel ten points constitutes a range.
Some leveraged account traders are desperately trying to stir the pot, sending around reports of the Al Qaeda "ownership" of the Algeria bombing as pressuring gasoline, stocks and emerging market currencies, however energy traders attribute the moves there to the DOE report of larger than anticipated gasoline inventory withdrawals.
Then there were stories of changes in Turkish real estate ownership rules allowing foreigners more access, but no follow through there either, so it seems attempts to re-invigorate the market are falling on deaf ears. The recent "surge" to 1.2193 has a few hopeful adherents, but older hands seem skeptical.
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