Posted: Mar 2, 2012 16:34
The FOMC began its two-day meeting on Tuesday and the market sent a powerful message as the Russia ruble continued to collapse. USD/RUB rose more than 23% at the highs before paring losses; amongst the majors sterling led and the Aussie lagged. Japanese trade date is next. Subscribers to our Premium Insights find a special edition on global equity idices, dissecting the 8 striking similarities the S&P500 has charted in the 2 months leading to the December high with the 2 months leading to the October 2007 high, including this week's confluence, indicated in the RED DIAMOND on the daily SPX charts. The Premium piece also gives insights on the Dow-30, FTSE-100, KOSPI 200, ASX 200 and OBX 30. All these are in the Special Indices Premium Insights.
Volatility remained at extreme levels as the market grapples with the infinite possibilities in Russia. USD/RUB rose as high as 79.38 then skidded back to 66 followed by another bounce to 71.