Roadblocks Hit: Daily Remarks – Friday August 24, 2012

Thursday: Stocks Ease So Does Volume Early Thursday morning – New York time – the US futures were heading higher from the decline of Wednesday. YM, the DJIA mini futures, was even threatening to form an inverse head-&-shoulder pattern. However, the US unemployment claims report punctured the optimism and the futures lost their steam. For…

Mysterious Yen Doubles Back

USD/JPY was in the midst of a potential saucer – or rounding bottom – pattern. However, the mysterious Yen has struck again in the aftermath of the news that ECB is stopping lending to some Greek banks and its President Mario Draghi signaled the ECB won’t compromise on key principles to keep Greece in the euro…