Dislikedsales were as bad as expected, in 'normal' markets usd had to be wiped after such news, but today i don't get the situation, usd bulls are happy to have that bill and $ inflow (+ more budget deficit), all i wonder is 'why?'
what about big M aggregate => low value (currency depreciation) rule?
i don't know, maybe nobody cares about macrofactors nowadays and just speculate, being driven by sentiments, playing a momentum, for me its really irrational to favor US economy in its current state and be bullish on that rescue package N223.Ignored
And yeah the sentiment is weighing everything down heavily so far. Price moved in the direction I mentioned earlier today but for other reasons. Overall we're still wading away in consolidation for news on this bailout, I agree with you 100% about that. Everything else not seeming to weigh so much right now.
I meantioned in an earlier post that in general, across the board, sentiment (based on options) has USD longs set in place for the very short term; but I'm really curious whats going to happen when more news strikes.
With Paulson and Bernanke on hold of any more major actions after the bailout became a political issue it seems everyone just has their ears to the ground at this point.