USD Under Pressure

We see a big retreat from the USD in last two hours. If you followed our morning technical analysis you might be reading this post with big smile as both US Stocks opened higher, Dow Jones erased some of its losses after suffering from the longest losing streak in four years.

Castparts soared 19% after Berkshire said it would buy the company for over $30bn, SP500 gains on that M&A. Chinese stocks rise as well, investors speculated that China will soon start putting additional pressure on stat-owned enterprises to accelerate mergers in order to boost economic growth. The Shanghai Composite Index jumped almost 5%.