Venus’ station coincided with the New Moon – an interesting astro-back-drop for the G20 meeting in Washington this weekend. In simple terms, these are early days with relationships the big, big issue.
Prior to the meeting, Brazilian Finance Minister Guido Mantega declared a “currency war” was underway. Treasury Secretary Timothy F. Geithner and European Central Bank President Jean-Claude Trichet were among those to signal irritation that China is restraining the yuan to aid exports even as the Chinese economy outpaces those of other G-20 members.
The US dollar has already hit an 8-month low against the Euro this morning. I’m already on the look out for a turning point here this week (most likely on Wednesday).
Against the Real, the US dollar is unlikely to do well for some time. The real could take off even more in 2011. There may be a buying opportunity here on Friday October 22nd – which is perhaps the only day this month when it could weaken against the dollar.
Key times London:
Anticipating rise in sterling 12.17 – 12.34
Negative mood prevailing 13.33 with possible FTSE turning point 13.43
High point of day 14.42
Worries affect market 16.00
Key times Wall Street
High point of day 11.12 EST
Turning point 11.30 – 11.42
Low point 12.40
Upward push 16:32 – 16:41