FedEx Delivers Red Numbers

FedEx reported its earnings yesterday, and on the way warned from a downturn in the economy. As a result, Wall Street indices were faced down. Then, at 10:30am, one hour after the beginning of the trading day, the Energy Department reported a further decline in oil inventories. This pushed oil prices up and made the Dow go under 12,000 points.

On the forex front, the oil inventory report made the dollar fall again against major currencies. In turn, Forex Funnel and Forex Tracer did their job and pocketed some hundreds of dollars to the trading account.

Today at 8:30am EST the initial claims number will be released, followed by the leading indicators and the Philadelphia Fed report on 10am. Should be interesting.

Good luck with your trades,
Nadav

nadavs