Cable Update (GBPUSD)
for a moment lets say stock markets etc. look not that bad in USA, but then lets look at these markets from this angle:
8% of the US market capital is owned by Saudi Arabians (fact)
below are my wild guess, don't know the facts:
I THINK at least 10% should be owned by europeans
likewise I think 5% at least by south americans
10% at least by Britons
10% by other Asians etc. etc.
other way, I agree that US might hold strong in other countries too, but that doesn't sound like a world leader economy at all except US has shitloads of nukes etc.
I think I'm too late to realise the fact how rapidly the equations in world economy have been changing. Major part of it taking effect and clearly visible in FX markets.
What do you know man?
Not to mention the Germans who invest billions every year into the US... (Sneakily)
USD CAD
When I told someone that we will see 0.5 USD CAD exchange rate they said woooooooooooo....
(...) It's also possible that the August payroll reading of a loss of 4,000 jobs overall could be revised back into positive territory. August typically is a month that sees some of the largest revisions in the initial readings, said David Wyss, chief economist for Standard & Poor's. (...)
Pay close attention to the revision today. Market tends to trade strong revisions much bigger than the actual if it comes with a strong deviation.
Last month's -4K shooked up the whole market and some huge revision to the positive side can't be ruled out.
