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US Crisis: The Fed calls for stability

Tue, Sep 16 2008, 19:17 GMT
by Tatsuya Kawanishi, Mauricio Carrillo, Noemi Jansana

FXstreet.com


Dollar/EuroAlthough central banks gave more than 230 billion dollars as injections to stimulate liquidity into the financial market between yesterday and today, the  turmoil has accelerated falling stock prices, high bond prices and appreciation of the JPY. After the black monday, we have seen oil prices below $100, near to the $89 range, Moscow stocks lost 11% today, also London stock looses near of 3.5% and Nikkei fell 4.95%. Almost all of investors have shown a scramble to enforce a risk aversion strategy.

Suddenly, The Fed decided leave its Fund Rate unchanged at 2.0% with no signals of imminent cut in the near term despite today's afternoon expectations cut of 0.25 basis point. Market have reacted positively, but it's too soon to believe in the victory.

Now, it's time to watch deeply AIG's developtments, it might be difficult to recover a degree of stability in the markets.

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Published on  Tue, Sep 16 2008, 19:27 GMT


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