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RISK APPETITE RAMPANT IN GLOBAL MARKETS TODAY
The dollar experienced massive losses as risk appetite surged lifting the financial markets. The EurUsd rallied 150bps to the mid range of 1.29, while the UsdJpy gained nearly 70pips finding resistance at 92. Equity markets jumped in the US and Europe, with the Dow up 2.7% or 270pts and the DAX added 134pts or 3%. Bond yields were mixed surprisingly, the 2yr in particular didn’t catch as much downside as one would expect, with the Fed buying it will be hard to pop the fixed income bubble. Commodities were lower in both the energy and precious metals sectors with oil…
9Feb2009 | Advanced Currency Markets | 0 comments | ContinuedUS SESSION: GOVT. BAILOUT PROVIDES SHORT TERM EUPHORIA, STILL ROOM FOR ADDITIONAL MARKET TURBULENCE
The dollar was battered in intraday trading as the market reacts to the announcement of another US Govt. bailout. The EurUsd rose sharply by 190pips to the high range of 1.27, while the UsdJpy is mostly flat slight under 97. The GbpUsd rose over 70 pips finding resistance near 1.50 as risk aversion eases in the marketplace. Equity futures are pointing higher in the US, following the trend of European stock indexes with the FTSE up 175pts or 4.6% and the DAX up 141pts or 3.4%. Commodities are consistent with the bias towards risky assets in early trading, oil is…
24Nov2008 | Advanced Currency Markets | 0 comments | Continued
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