No talk of currencies at the meeting, the meeting was preoccupied with the crisis. However we do have OPEC secretary toking about switching to Euro in the long term, not immediate.
During the G7 meeting, US was pushing for other countries to implement fiscal measures. However Japan flatly refused.
On Reuters, it is reported as a gloomy outcome for the G7 meeting, nothing concrete comeout, except some hot air statement.
We have Bernake on congress on Thursday, Retail Sales on Wednesday. Option expiry on Friday.
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For those wondering where Euro would go, it is like guess whether Clinton or Obama would win the nomination.
Would Euro rebound all the way to 1.4900 again ? or fall towards 1.4000 ?
Meanwhile GOLD would likely attempt its last high at 936, and CRB index making new highs, Crude making a come back to 91, from 88.
Lately Gold has been moving independent of Euro. A sign of late stage rally.
Let us see if GOLD can spike to 1000 USD this week, if not next.
Best guess, is next week is Euro positive, looking at Crude, Commodities rising. Retail Sales may be the straw that break the USD rally. And the Bernanke seal the coffin on Thursday, with of course more cuts. I would not rule out an attempt at 1.4330-1.4380 to complete the story.
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