SPX 500 - Tuesday 06-19-12
The SPX 500 sits about 5 points higher (as of 8:45am ET) than Monday’s close on the S&P 500. US Building Permits came in greater than expected. Even with the Greek volatility, the month of June has remained slightly bullish for equities. Tomorrow we have the FOMC statement, which we will look for commentary of QE3, Operation Twist, and future policy stance.
As there has been talks of USD/JPY forming a bottom, but has yet to really move. A pair to keep an eye on is TRY/JPY (Turkish Lira/Yen). This pair has been bouncing off the 200 day moving average for a few days. The rolls on this pair could potentially make this a nice carry trade if there is a move to the upside.