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US SESSION: STERLING COLLAPSED AFTER CONFIRMATION UK IS RECESSION.
The dollar has seen considerable strength due to greater risk aversion. The EurUsd is trading close to yesterday’s close at the low range 1.25, while the UsdJpy dropped more than 230pips to the low 95 price area. The GbpUsd experienced a sharp decline as the pair slid 420 pips to the mid 1.49 level. The equity markets tumbled with the Dow down 3.5% or 300pts, in addition the European Stock indexes were negative with the DAX lower by 3.0% or 140pts. Bond yields tightened to historical levels with the 2yr treasury at 1.18% and the 10yr at 3.64%. Traders scaled…
12Nov2008 | Advanced Currency Markets | Comments Off | ContinuedUS SESSION: RALLY FOLLOWING CHINA STIMULUS PLAN SHORT LIVED
The dollar ended mostly flat against the majors in the US trading session. The EurUsd rose roughly 30 pips to the mid range of 1.27, while the UsdJpy traded through previous support to the high 97 level. The GbpUsd slipped 20 pips putting the pair in the low 1.56 price area. Equity markets suffered losses with the Dow down nearly 1% or 73pts and the SPX (S&P500) lower by 1.27% or 11.78pts. European stock indexes were mixed with the Dax exceptionally higher, up 1.75% or 87pts and the SMI stronger by 1.37% or 82pts. Bond yields have tightened to frightening…
11Nov2008 | Advanced Currency Markets | Comments Off | Continued
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