Downslide continues in Asian and European markets. European markets breaking their own record and creating fresh lows. It’s the 8th day in a row that the London market is down with no sign of recovery. Impact is clearly seen in Asia, Germany’s DAX index was also down more than 6% at one point.
Recession in major economies cannot be ruled out if situation does not improve.
The shares that suffered the most in European market comprise Oils and banking/Financial, stocks are directly related with economic growth of the economy.
This downhill rally has indeed created some good buying opportunities for investors as some solid stocks are looking really attractive and can be bought at much lower prices – this is one aspect if at all can be counted as some good news in such harrowing times for those who still have some money to spare to make the most of this opportunity.
US Markets opened to the same tune – big swings, sharp spikes, hap-hazard up and down movements as investors wait for Federal Reserve statement on monetary policy that will be announced at 2:15 p.m. Eastern time, which could do something to get the market out of slump and back on track.
Gold is doing great as investors are shifting base and moving towards safe havens. Gold has become more expensive than Platinum, first time in a very long time.
Currency markets are on a roller coaster ride experiencing unprecedented swings and blows, the currency trading scene looking as shaky as any other.
The Swiss franc reached all-time high against the dollar and the Euro as investors preferred to invest in safe currency rather than take a risk with any other in this volatile market. Yen also remained on the high. Currency market is as eagerly awaiting the announcements from Federal Reserve policy makers as any other.
The U.S. Dollar was trading lower against the Swiss Franc, Euro, and Japanese yen at the time of writing this report. USD/CHF was trading at 0.7510, and the US Dollar Swiss Currency pair is likely to find support at 0.7484, and resistance at 0.7801.
The big daddies of currency trading are in favor of keeping a close watch on Euro shorts versus dollar as well as pound, yen, and franc.
CAD recovered some losses for the first time in last six months dropped below parity with the U.S. currency today, but they are hoping the big announcement will give them a respite and scope to recover.
The Canadian dollar today recovered from a six-month low against its U.S. counterpart cutting down and offsetting some big losses. USD/CAD - may find support at 0.9781 and resistance at 1.0057.
Wishing you a great trading session ahead!
Source: Forexoma.com
Recession in major economies cannot be ruled out if situation does not improve.
The shares that suffered the most in European market comprise Oils and banking/Financial, stocks are directly related with economic growth of the economy.
This downhill rally has indeed created some good buying opportunities for investors as some solid stocks are looking really attractive and can be bought at much lower prices – this is one aspect if at all can be counted as some good news in such harrowing times for those who still have some money to spare to make the most of this opportunity.
US Markets opened to the same tune – big swings, sharp spikes, hap-hazard up and down movements as investors wait for Federal Reserve statement on monetary policy that will be announced at 2:15 p.m. Eastern time, which could do something to get the market out of slump and back on track.
Gold is doing great as investors are shifting base and moving towards safe havens. Gold has become more expensive than Platinum, first time in a very long time.
Currency markets are on a roller coaster ride experiencing unprecedented swings and blows, the currency trading scene looking as shaky as any other.
The Swiss franc reached all-time high against the dollar and the Euro as investors preferred to invest in safe currency rather than take a risk with any other in this volatile market. Yen also remained on the high. Currency market is as eagerly awaiting the announcements from Federal Reserve policy makers as any other.
The U.S. Dollar was trading lower against the Swiss Franc, Euro, and Japanese yen at the time of writing this report. USD/CHF was trading at 0.7510, and the US Dollar Swiss Currency pair is likely to find support at 0.7484, and resistance at 0.7801.
The big daddies of currency trading are in favor of keeping a close watch on Euro shorts versus dollar as well as pound, yen, and franc.
CAD recovered some losses for the first time in last six months dropped below parity with the U.S. currency today, but they are hoping the big announcement will give them a respite and scope to recover.
The Canadian dollar today recovered from a six-month low against its U.S. counterpart cutting down and offsetting some big losses. USD/CAD - may find support at 0.9781 and resistance at 1.0057.
Wishing you a great trading session ahead!
Source: Forexoma.com
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