On Friday TD Waterhouse advised investors should go short the Aussie. Today taking profits seems the wisest thing to do.
From a historical perspective, January is usually a positive month for global equity markets.
Overall investor mood has turned sour in the closing days of 2008. China cut interest rates for the fifth time since September.
Oil fell into the thirties last night and a downgrade of GE had the Dow down 219. (Unlocked as a Christmas present)
Oil fell 8% despite a record cut in OPEC production. The Dow gave back 100.
Wall Street has applauded a bold new approach to monetary policy taken by the Fed last night. The Dow rose 360. (This report will be unlocked as a community service).
It was a quiet Monday on Wall Street as investors await a series of events on Tuesday including the Fed rate decision. The Dow gave up 65 points.
Friday saw a rally which brought the Dow back to where we left it last Friday. It was up 64 in the session.
Predictions for 2009 are flowing in and DBS joins the queue in downgrading its outlook and forecasts for the Asian region.
The US dollar accelerated its fall last night as Wall Street decided to bank profits on commodity names. The Dow fell 200.