EUR/USD opens in the US below the important 1.3665 level after slipping as low as 1.3542 earlier. Trends in motion continue in motion as deleveraging continues as the European credit crisis intensifies and the market readies for interest rate cuts from most of the developed world.
Oil has broken below the $90 mark amid carnage in the global equity markets as traders prepare for a global recession which should sap demand for all the commodities markets. Financial players in the commodities markets are offloading positions as credit to fund positions becomes scarcer by the day.
To late to sell this puppy; selling rallies looks the way to go. Avoid an itchy trigger finger.