The ALSI opened up around 200 points this morning, but it's consolidating at the moment around the 24340 level.Yesterday and today looks like a bit of a relief rally, and we are expecting inflation and retail sales figures from the US later this afternoon, which could influence the market.
Since volatility is still on the uptrend, we are cautious regarding opening new positions. For now we've taken profit on our short positions and we are either in cash or hedged.
GDP figures from Europe was in line with expectations with Germany leading growth at 2.2% for the second quarter, but Spain only expanding by 0.2%.
The new topic on the newswires is that America would probably lose the AAA credit rating in the next 3-5 years, but that's merely opinion and not a imminent risk.
Safe trading
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