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Risk Aversion Returns To The Market Place
The dollar rallied against most of the majors with the exception of the yen. The EurUsd dropped 108pips to the mid range of 1.33, while the UsdJpy declined 112pips to the low 89 price area. The GbpUsd dropped substantially, down roughly 350pips finding support at 1.48. Equity markets moved south on rising volatility and uncertainty regarding the financial markets. The Dow was off 1.46% or 125pts and the SPX dropped 2.26% or 20pts which was consistent with price behavior in other asset classes. Bond buyers were back in full swing, purchasing UST as all parts of the curve driving in…
13Jan2009 | Advanced Currency Markets | 0 comments | ContinuedEQUITIES AND DOLLAR DECLINE ALIKE THE CORRELATION MAY BE BREAKING
Dollar strength experienced a strong reversal in today’s trading session. The EurUsd rose 100pips to the low range of 1.36, while the UsdJpy dropped a bit over 100pips through 93 to high 92 price area. The GbpUsd surged 200pips pushing the pair back above 1.50 ahead of the BoE rate announcement scheduled for tomorrow. Equity markets deteriorated in the US and Europe, with all the major indexes closing on the negative side. Bond yields were active but have since moderated levels still well below historical averages. Commodities slid across the board with oil down 12% at $42bbl, and gold off…
7Jan2009 | Advanced Currency Markets | 0 comments | ContinuedAsian Session: Markets Confidence Grows
The Usd was slightly weaker in the Asian session, after a strong rally yesterday. EurUsd, in choppy trading, jumped between 1.3300 and 1.3360, while UsdJpy rose in early trading to 102.16, before slipping down to 101.43 (carry trades followed a similar pattern). The US equity markets continued to rally, with the S&P 500 up 4.7% and Asian regional stock indexes are following with Nikkei up 3.39%. VIX fell a whopping â€24.0% to 52.97 and gold fell to $793.82oz, as confidence continues to filter back into markets. Participants were broadly encouraged by the flood of official speak and corresponding markets reaction…
21Oct2008 | Advanced Currency Markets | 1 comment | Continued
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