By Dean Popplewell

These markets are weird, every time one individual sells, another one buys, and they both think they’re smart. There is very little new to say when price action is dead and there are no fundamental changes. All one can hope for is that they have the correct position on. For the third consecutive day the EUR is opening straddling similar prices. However, the market lives in hope that perhaps today may be a game changer as we have US trade and FOMC minutes to contend with. Many expect the FOMC minutes to show a divided committee. The problem with this scenario is that the market will most likely “struggle to assess the balance between those skeptical of further action and those calling for new asset buying.” Perhaps focusing on policymakers’ tolerance for deterioration in labor data will give us the best clue for potential QE3? Investors will