Here is my analysis on the market before New York time.
EURUSD touched 2σ upper line based on the Stochastics, it has apart from the line. Now it looks range trade within the band. Basically, EUR can appreciate for a while.
USDJPY has touched 2σ lower line based on the Stochastics. It is close to the support line, 107.05.
In Asia and EU time, UST yield has been up with EU Reconstruction Fund agreement. After entering NY time, yield has been down and 10 year yield has close to 0.6%.
DAX and SPX level are almost back to Marck level. The earning level is lower, so the valuation is very rich. August is seasonally weak month, so I don’t know this rich valuations continue or not…
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