(as of 7:20 AM PST)
It looks like a difficult day for markets. Economic data is coming in mildly negative and political tensions are rising globally. In a market that seems poised for a pullback this is a prescription for a day of profit taking. Ukraine is the key political hotspot. A battle between supporters of the east and the west have the country in a state of chaos. Russian military exercises on its border have the rest of the continent on edge. China has radically shifted the direction of its currency trajectory. The Chinese currency has broken out of its strengthening trend of the last few years and is falling, in large part due to Chinese Bank intervention. A falling Yuan might help China reverse the fall it has experienced in exports. Markets are generally down across the globe, although fear induced trading is not a factor. Gold and oil are near unchanged. Expect a rocky day on the investment front.
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