· US consumer confidence falls to yet another 5 year low. Worse than expected? Yes. Surprising? No.
· US stock markets struggle to hold their ground, but the DJIA may still have upside potential to the 12,800 level...
· Nevertheless, major downside risks to the markets remain, especially if the privatization of Clear Channel falls through on the failure to come to an agreement on credit terms.
Stories to watch on DailyFX
· Carry trades have made a comeback and could continue to do so in the near-term. However, it is worth asking: Why Might the USDJPY Rally Be Short Lived?
· ECB officials remain hawkish, supporting EUR/USD gains. Find out when they're saying in DailyFX Central Bank Speak.
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