Daily Market Report
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Overnight, oil fell 1% helping the dollar take back some small losses it made on Monday
Tue, Aug 19 2008, 12:11 GMT
by Wachovia Research Team
Overnight, oil fell 1% helping the dollar take back some small losses it made on Monday. The dollar is up today against most major currencies except the Japanese yen. The yen rose as stock markets fell and investors became risk averse on concerns that financial firms will post more losses.
Euro weakened versus the dollar on weak data out of Europe which makes a future ECB rate hike extremely unlikely. The British pound also fell against the dollar after Bank of England member, Besley, commented that UK inflation will fall by the end of 2009, putting pressure on the BoE to cut rates.
Key data out of the US today is PPI, Housing Starts, and ABC Consumer Confidence.
Published on Tue, Aug 19 2008, 12:22 GMT
Archive
- Risk aversion was the main theme of yesterday's trading session
Published On Fri, Jul 3 2009, 12:25 GMT - The US dollar and the yen fell against most major currencies
Published On Thu, Jul 2 2009, 13:25 GMT - The US dollar strengthened against the euro and the pound yesterday
Published On Wed, Jul 1 2009, 12:25 GMT - Daily Market Report
Published On Tue, Jun 30 2009, 12:50 GMT - The Swiss franc ended the week lower against the euro
Published On Mon, Jun 29 2009, 13:56 GMT
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