Large USD Rebound 2009-11-01 10:35pm -08:00T
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2009-11-01 10:35pm -08:00T
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The Dollar even a stunning 3.5% Q3 GDP could not help stock markets finish the week in positive territory as fresh banking concerns caused a spike in risk aversion. The VIX also known as the fear index climbed over 20% on Friday and commodities fell aggressively from recent highs. The Euro fell heavily from the 1.5000 levels as the sentiment turned and key levels were breached. German Unemployment Change was strong at -26k vs. 15k forecast. German Retail sales were weak though at -0.5% vs. 0.7% previously. The EUR/USD fell 1.94.% closing at 1.4721, after opening the week at 1.5007.
The Japanese Yen was extremely strong but volatile as it outpaced the USD as the safe haven of choice. NZD/JPY fell over 7% and most crosses were under extreme pressure. USD/JPY finished at the key 90 Yen level but is technically under pressure as the rally failed. The USD/JPY fell -2.15 % at 90.10 after opening the week at 92.04. The GBP bucked the trend against all except the Yen with heavy EUR/GBP selling breaking the pair below 0.9000. Cable was able to shown a small rise as...
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