While market ranges looked eerily familiar to yesterdays, the end results differed in that after an early decline, the US Dollar came clawing back to respectable levels. Risk was back on the table after the Japanese Tankan survey came in better for a second straight quarter, helping to accentuate the fact that the economy is on firmer footing. Adding to the positive data today was Chinese PMI which rose slightly to 54.3 stronger than the expected 54.0, and a making that four positive months in a row, showing again that the economy is steadily improving. Full text »
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