The preceding week's movement on price proved somewhat indecisive as global equities along with the US Dollar (USD), the yardstick for opposite sides of the risk argument saw Friday with little change. The price action was indeed erratic amidst conflicting influences, Ireland's debt woes lurched towards resolution while Bernanke was in combative defense of QE while the news further being offset by China's intimations of cooling inflation (with it economic growth), and to raise reserve ratios by 50bps by month end.
Looking further from recent headlines, the balance of those forces driving price action is likely to manifest in renewed risk averson. Subsequent to the Central Bank's delivering what had previously been factored in at the start of the month some of the more riskier assets had retraced. Fed QE expectations also began to show some clarity which left advances less the impetus. Therefore a deeper correction
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