Thursday October 22, 2009 - 09:42:20 GMT
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GVI Forex Discussion Points 22 October 2009 Morning
From GVI Discussion Points
-- Equities back in a corrective frame of mind today. Wonder if the Galleon Fund liquidation is having an impact? Nevertheless shares have been behaving like they are overbought in the last two days. WFC downgrade yesterday was said to be a catalyst, but was that enough? Equity correlations should be followed today.
-- Odds are liquidity (positions) more than economic indicators will drive trade into the weekend through tomorrow.
-- China +8.9% GDP. Amazing that reportedly only 8 people can compute national GDP in just 22 days. Nobody else can do the job that fast and most have much larger bureaus on this job. In short, take the data with a pinch of salt. Some say the data is geared to meet political expectations.
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