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Use this technical rally as a chance to sell EUR/USD and Gold
Markets are incredible examples of pack mentality. Take Wall Street for example. A weak Retail Sales number yesterday has now got everyone questioning the potential for the removal of the word “patient” from the FOMC statement Fed tightening, something that had apparently been secured by the strong payrolls. I remain sceptical that the Fed would make this symbolic move (which leaves the door open to an imminent rate hike depending on the data) as inflation has shown no signs of picking up and whilst wages remain anchored. Still that did not stop the euphoria of the bad data being good for equities as the S&P 500 ... (full story)
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