The $ is slightly higher but slipping The € and the Swissy remain negative while the remaining major currencies are higher. The BRIC currencies are all lower except for the Real. The USDMXN is 19.2192 +0.0267 (+0.14%), USDCOP is 3,186.25 -5.25 (-0.1645%) and USDBRL closed at 3.8248 is trading at 3.8223 on the CME.
Bond futures are around unchanged but gold continues to fly, trading $15 higher. The ratio is up to 92.68 and its relevance is fading. Gold’s strength is a mystery. Oil and equities are lower while grains and the softs are higher.
The market has just made new highs. Is this the beginning of a macro move as John suggested a while ago? Is it winter fears? It’s difficult to be convinced of anything but the market feels explosive presently.