Now that Egypt is a Jeffersonian democracy, the S&P is back testing its highest levels since before the collapse of the House of Lehman. We tested 1300 last week and we are right back at that level today, boosted by seasonal flows and upbeat manufacturing data.
EUR/USD is finding buyers on dips to the 1.3730 area and is running into sellers toward 1.3770/75 as the risk-trade wrestles with a rebounding US economy for market appreciation.