Forex Trading - Market Update

Market Update
The markets sold off yesterday starting with the Aussie, as a Chinese government official made a negative comment about growth: "it should be above 7.0% for the rest of this year." I have little doubt that he will soon be fired. Market participants began focusing on the protests in Spain shortly after, and the US equity markets sold off as risk appetite decreased substantially. Now remember, this sell-off started in the US session yesterday after the European session closed. This gives more scope for negative sentiment to be carried over into the next session. As expected, the European & Asian sessions resulted in a sell off of equities.

Looking forward
What a lot of people don't realize is that the protests in Spain and Greece were/are planned. They should be on everyone's calendar as potential catalysts. Protests in Spain are scheduled to continue today and a massive protest in Greece was scheduled for today. As the media continues to shift attention to the protests, I expect it to affect sentiment in today's US session and cause the equity markets to close in the red.

Timestamped.


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