Daily Outlook - Thursday 02-23-12
The SPX 500 is about flat from yesterday’s close on the S&P 500. We are now consolidating around the 2011 high. This morning we had a positive release of German IFO and the EUR/USD sits slightly below 1.33 area.
News to look out for will be talk of oil price speculation. A cross pair that has been on the move is CAD/JPY. With Canada being a commodity based country and the Yen depreciating, we have seen it rally and trying to break above 81.