Hooray! Hooray! At 4.45AM, the psychological level of $1267 has been reached and broken. The highest of the session so far $1267.15.
Why not when you have the yanks stopped spending and consuming. This has led to slowdown in economy which relies on consumption in 70%.
Average American have no trust in Fed and they are expecting troubles in an economy survives on debts and printing money. They are paying their debts and saving for a rainy days.
The U.S. economy expanded in the first quarter at the slowest pace in two years as American consumers reined in spending and companies tightened their belts in response to weak global financial conditions and a plunge in oil prices. U.S. Economy Expands to 0.5% Pace, Weakest in Two Years
