The Q1 of 2014 was greatly affected by the weather and most economist were projecting a contraction to the tune of -1.7%. However, the Bureau of Economic Analysis, puts the decline to -2.9% at an annualized rate, which is sharply down from BEA’s previous estimate of -1.0%.
- The dollar index fell off the bed and the probability of it re-testing the lower bound of the current horizontal have increased
- USD/JPY the best follower of the dollar index has sharply declined testing the support of 101. 57
- The EUR/USD is rallying target of 1.3677 in sight
- S&P futures are falling. Making an ABCD or an up-side flag with a downward target near low 1920s.
- US Treasury Bonds are rallying towards the resistance of 139.00
- The 30-Yr Treasury Yields are falling towards 3.267