SPX 500 - Friday 04-20-12
The SPX 500 sits about 8 points higher than yesterday’s close on the S&P 500.Today we have IMF and G20 meetings, which could bring some volatility as there is not much scheduled for today’s economic calendar.
In the 1st quarter of 2012, equities rallied and the USD/JPY followed along with it. As we had earnings releases and some more Euro debt crisis back on the table equities have had a correction. If we begin to see fears subside in equities, we may see the USD/JPY begin to move higher. Right now the USD/JPY is riding right along with the Ichimoku cloud. We’ll have to see if it can maintain throughout Sunday where we have China’s HSBC Flash Manufacturing PMI. Keep an eye on Yen cross pairs.