Market Update

Weekly bars in Asian Carry Trade crosses and GBPJPY look very strong, headed for full retracement higher. Only concern is USDJPY, which looks weak. EURUSD headed towards 1.3666 (chances are seen).

Equities still not looking strong. Especially Emerging Markets shares still look weak, but major indices not too impressive either.

Possible triggers for bigger events: Credit spreads to widen more. US Housing Figures to come out still weaker. FOMC statement to be hawkish.