Morning update:
Oil inventories are bullish, but the bond drop is holding equities up. Internals favor the bulls, but watch the overnight highs, now support. TNX stalled just under 3.85%. If we do make new highs, watch QQQQ 46.80/85.
Aug. 27 (Bloomberg) -- European Central Bank council member Axel Weber said there's no scope for interest-rate cuts and policy makers may need to raise borrowing costs once the economy emerges from its slump.
This is hurting the dollar and adding fuel to the oil bid.
Oil inventories are bullish, but the bond drop is holding equities up. Internals favor the bulls, but watch the overnight highs, now support. TNX stalled just under 3.85%. If we do make new highs, watch QQQQ 46.80/85.
Aug. 27 (Bloomberg) -- European Central Bank council member Axel Weber said there's no scope for interest-rate cuts and policy makers may need to raise borrowing costs once the economy emerges from its slump.
This is hurting the dollar and adding fuel to the oil bid.
This entry was posted
on Wednesday, August 27, 2008 at 8/27/2008 10:48:00 AM.
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