Here is a brief summary of what will and had happened during the period of my absence from the market: A good move made by RBA today, where they cut interest rates by 75bps to 5.25% at 03:30 GMT. The 75bps came above expectations as speculators were anticipating a cut of 50bps instead. RBA has indeed shown their aggressiveness on their countercyclical monetary policy, and at the same time to exert some pressure on BOE and ECB for a significant ease this Thursday. Economic data everywhere seems horrifically weak globally, not sparing China as well, as China's manufacturing data shrunk by record. Interestingly, there was an article on LA Times, where it reported that some owners deserted their factories in China. From the British Beer and Pubs Association in U.K, pubs are shutting down at a rate of 5 pubs a day, from Reuters, click here . Focus will be on US elections on Tuesday, where results will be in after the N.Y market closes. If McCain is to upset Obama, he may have to sea...
Trading The Global Markets With A Systematic Approach