Well, it seems we are truly off to the final lap to the bank this week.
#1 The banks are ready. China has help prevent their “crash” so to speak. The Fed has opened the door, so to speak for the banks to clean up their act. Realize that certain banking engines have received “BONDS” to fund this major undertaking.
#2 Watch the Forex. The 3.41 rate will show and the CBI will show as well.
#3 Announcements – actually they are hot and heavy but again, but they won’t blurt out the GCR.
Watch for the Yuan announcement of being in the basket. The article I read which was dated 11/4 says SOMETIME this month and no later than 11/30-I would say a sure sign the basket is a go but may be announced after we get to bank.
Of course, Iraq and the World are preparing in and out of country announcements. Look for “emerging market” verbiage.
Goldman Sachs may have dumped the BRICS fund because all these countries have devalued BUT they have moved funding into an EMERGING MARKETS fund(hint hint)
To quote a favorite, “The Eagle has landed” and I would say right on our heads!!
This is our week.