"U-Mich consumer survey data show the mood of Americans remains dark so far this month, but not as dark as in August. Low mtg rates and Pres Obama's jobs plan perhaps lifted the index. But expectations remained very sour. Expectations at 47.0 was the lowest since the early 80s and infl expectations edged up."
"Michigan consumer sentiment details continued to look pretty weak and some of that reflects downbeat ideas on personal finances, income expectations, and the labor market.
Currently: Dow +25.2 11,458.38 +0.22%, Nasdaq +5.91 2,612.98 +0.23%, S&P+1.65, 1,210.76 +0.14%.
U.S. stocks were little changed Friday, as investors take a breather and await news from a meeting of European finance ministers in Poland.
Stocks started the day modestly higher, but erased those gains to hang close to the breakeven line.
Financial stocks were dragging on stocks, with shares of Bank of America (, Fortune 500), Morgan Stanley (MS), Wells Fargo (WFC) and JPMorgan Chase (JPM) down about 2%.
Oil slipped, trimming its fourth straight weekly gain and longest winning streak since July, on concern that European plans to solve the region’s debt crisis may founder, threatening economic growth.
"in Sept consumer sentiment, Current Conditions pushed the number up. The main factor was a jump in Buying Conditions for Household Durables, mainly because of fewer consumers saying it was a 'bad time to buy'." CS's recession probability estimate is 35% currently, based on high unemploy claims, lower stocks and depressed consumer expectations.
U.S. stock-index futures declined, indicating that the benchmark Standard & Poor’s 500 Index will snap a four-day advance, as European Union finance ministers met in Poland to find ways to control the debt crisis.
"We would not be surprised if FOMC decides to buy 30y bonds and possibly even expand their balance sheet. These policies could end badly. Too much liquidity in the 1970s had quite devastating effect. This directly led to the debilitating inflation spike in 1978 to 1980."



EUR/USD

Resistance 3:Chf0.8850 (Sep 14 high)

balance of economic risks on the downside
Resistance 3: $ 1.5920 (FIBO 23.6 % $1.5705-$ 1.6618)

Resistance 3: $ 1.4020 (FIBO 50 % $1.3495-$ 1.4548)








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