Many assumptions about economic and financial market performance have been shattered in the 2 years since the global credit market crisis started.

Unpopular Japanese Prime Minister Taro Aso may face a struggle to keep his job after his ruling bloc was soundly defeated in a weekend Tokyo election seen as a bellwether for a national poll to be held within three months.

EUR. The pre-planned break-out variant for buyers has been implemented with overlap of minimal anticipated target.

Slightly Bullish Hourly Sentiment is Seen in the Immediate-Term as Price finds Dynamic Support at The Daily Pivot @ 1.3983 inside of the larger Hourly Bull Flag Formation.

EURUSD – Extreme forex market choppiness has left sentiment on the Euro/US Dollar fairly neutral, and the SSI gives relatively few clues on near-term direction.

The G-8 meeting hosted in Italy has, unfortunately, evidenced again divides on stimulus measures and on possible exit strategies to be implemented once the crisis is over.

US equities are under a little pressure from dismal earnings out of US Steel, Deutsche Bank and Valero, as well as declining consumer confidence, with all three leading indices in negative territory.

The euro lost ground vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4065 level and was capped around the $1.4150 level.  Better-than-expected earnings at major U.S. financial institutions including Citigroup and Bank of America led to a bid U.S.