toilet paper usd thursday, page-33

yeah, what interests me is that the futs are again so clearly leading cash around by the nose. You've got to say that when futs lead cash then its a speculative market. All the rest of the guff is.. well, just tripe..

Also the matching action with hs, is it just arb or is it the same source of liquidity? I suspect its money out of the same pool. Spi/xjo sure not following japan, which is the second largest market in the world.