Fixed income has mostly trade within the range from yesterday with some more calm, equities tried to rally in Asia and before lunch in Europe, but the rally went away and we have briefly moved lower than yesterday and now we are trying to make a come-back. The big drag again today have been financials in the US with Citigroup leading the way down.
But the big story today is the move in gold that now are attacking the 50 dma.
Does this move have implications for eur/usd and equities among other. Marc Faber today on CNBC said that a rally in equities would be negative for gold as investors will sell gold that have been the relatively best performing non-fixed income asset class lately. I am not so sure sure something else could be going on.
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