(Posted Singapore time 340 pm)
Updates are in red. This post was written in June. This post is a reflection on my earlier speculation and subsequently updated. How accurate had this blog posted and speculated, please be the judge!
At point of writing, 20110616, Singapore time 0230 thereabouts, the US dollar index is at 75.64, a rise of 1.76%. The US major indices are down 1.54% – 1.7%. Hence oil is lower by 4% (demand concern). And unless there are any strings of ‘good’ news, the markets will continue to fall. The US dollar reached a high of 79.4
With no news of QE3, and QE2 coming to an end, the markets had certainly showed no mercy. Since my article dated 11 May 2011, Without new on QE2.5…unwinding of carry trades I had tried to explain what unwinding of carry trades mean? ...
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