Posted on May 5, 2009 at 19:31 in Commentary, Market Analysis by Tim Salem
Greetings again, Everyone!
We move now through the Asian-Pacific Sector, as the Equities drive in the U.S. will “Bleed Out” into the Asian Indices… and The KEY… in my personal View… Will be “Which Side of the Day” they choose to favor!
Will the Nikkei and the Topix and the Aussie and New Zealand Equity Desks prefer the earlier “healthy” part of the U.S. Day?…
…Or will these Exchanges open lower while preferring the ” U.S. Corrective Day” as the Dow and S&P 500 retrace and fall as they closed out their Sessions.
Surely… there is no need for concern with Fiber… as the Euro Dollar has simply been the “Baby Chick following the Mother Duck” all day long anyway!
Where “Mother Dow” went… “Baby Euro” followed…
BUT… we have a Fatal Flaw in our Cute little Analogy here!…
As the Dow/Euro Correlation moved along… we saw some subtle “Unwinding” as more Criteria came in affecting the Pair which contributed to the Sell-Off… the Dow simply moved into a bit of “quiet Consolidation”.
The Euro needed to start concerning Itself with the looming ECB Decision and the “Dovish” Climate that is engulfing the Decision and Rhetoric… as well as atrocious PPI Data Points and let’s not forget Non-Farm Payrolls to toss the “Euro Ship” around the Waters even more for the remainder of the Week.
Here are the Daily Views of the Dow Contract ( on this Platform I use for the Blog Illustrations), and the EUR/USD, so give the Captures a Click, and Post-Time is 00:30 GMT.
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