By: Forbes Real Time
September 03, 2013 at 08:20 AM EDT
Missile Alerts Will Keep Forex Traders On Edge
A wave of better-than-expected purchasing managers’ indexes, or PMIs, has pushed most equity markets up in Asia and into the black. Yesterday's PMI data from Markit showed that even the weakest Eurozone countries have turned that long-awaited corner and now are part of the expansion crowd rather the contraction group. Germany and the U.K. are alone, that's to be expected, but the numbers from Spain and Italy tell a different story – they are "escaping the tentacles of recession." Foreign exchange (forex) investors should expect rumors of impending missile attacks in the Mideast to continue to keep capital markets on edge. Risk on and off is the trade that is expected to dominate. Markets should anticipate the mighty dollar to wobble, but not fall under uncertainty.
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