A Correction within a Correction

From marctomarket.com

The disappointing US jobs data may mark the end of the first phase of the dollar's recovery. It may be like the US phase 1 deal from China. Many wonder if there will be another phase. We suspect that the employment data is not a game-changer. On the one hand, the divergence of economic activity between the US, Europe, and Japan, on the other, doesn't really change because of the employment data. The US economy is expanding, and Japan, and especially Europe, are contracting. Moreover, one way or the other, the US will be delivering significantly more fiscal stimulus. However, against many of the major currencies, the ... (full story)