S&P 500 (Mar 13) INTRADAY Review Yesterday was an interesting session as the US Q4 GDP reading came in at an eyebrow raising -0.1%. This unexpected contraction has been entirely attributed to defence spending cuts and lower business inventories with perhaps a hint of Hurricane Sandy thrown in there as well. Underlying this headline number was a promisingly strong Personal Consumption growth of 2.2%. The S&P spiked lower initially following the headline print but the index quickly
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The currency pair was initially bullish yesterday