Euro remains very well supported on dips Retail positioning still looking for USD strength Cable and Cad SSI ratios stand out and warn of more USD weakness UK GDP data much softer; opens intraday underperformance in Pound Key event risk later today in the form of the FOMC rate decision We have yet to see any real justification for the latest Euro rally, but at the same time, would not
THE TAKEAWAY: Negative UK GDP growth in Q1 2012 -> Sterling under pressure as data diminishes confidence Great Britain’s Gross Domestic Product contracted in the first quarter, pushing the UK into its first double-dip recession since the 1970s. The report is expected to increase pressure on UK officials, most important PM David Cameron who has faced criticism for promoting austerity instead of government stimulus.
Durable Goods Orders Fall 4.2% in March
Two big Dow names hit the ball out of the park on first quarter earnings announcements.
Sprint beat analysis expectations
Germany based Sap AG (SAP, quote) posted its 9th Consecutive Quarter of Double-Digit Growth in Non-IFRS Software and Software-Related Service Revenue.
The Credit Suisse Investment Policy Committee (IPC) is adding
Tuesday April 24 Commodities Review
The EURGBP continues to have a strong April moving steadily in a downtrend. Through today’s trading, the pair has moved as much as 214 pips lower from its monthly high at .8357.
U.S. single-family home prices climbed for the first time in 10 months, in an encouraging sign the beaten sector is starting to stabilize.
