Wednesday, June 17, 2009

Yen Experiences Mixed Results against Major Currencies

The Yen completed yesterday's trading session with mixed results versus the other major currencies. The JPY was broadly unchanged versus the EUR yesterday and closed its trading session at around the 133.50 level

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EUR Rises on Positive Economic Data

The EUR experienced a bullish day of trading yesterday against the USD, mainly due to the German ZEW economic expectation figure

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USD Erratic from Mixed Signals

The USD dropped against most of its major currency rivals yesterday, pressured by Russian angling for a new global reserve currency

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London Session

Further falls in stock markets is suggestive of more risk being taken off the table today as the market worries about the strength of the 'green shoots' of recovery

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Risk appetite continues to decline

Equity markets fell for the second day in a row yesterday sending S&P500 down by 1.3%. In Asia the S&P future has been broadly unchanged, while most Asian indices are showing losses

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Asia Session

The daily debate as to whether the global recession is easing or worsening once again fueled the tug-of-war between risk appetite and risk aversion, with those believing the economic situation is looking brighter able to chalk up a win in Asian trade

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