SubscribeAll Posts Tagged With: "Pound Sterling"
RISK AVERSION TRADE CONTINUES TO DRIVE FX PRICES
The trend of risk aversion persists with the dollar weaker against most of the majors. The EurUsd gained a little over 100pips to the low 1.30 price area, while the UsdJpy increased nearly 50 pips to the mid range of 92. The GbpUsd increased nearly 60pips trading through the previous resistance of 1.48. Equities are trading higher in the US, which was consistent with the positive move in European stock indexes. Bond yields are still compressed below normal levels, with the 2yr at .85% and the 10yr at 2.6%. Commodities rallied across the board seeing strong gains in energy and…
10Dec2008 | 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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