Daily Market Report

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U.S. One and Three month LIBOR moved higher for a second straight day
Fri, Nov 14 2008, 14:11 GMT
by Wachovia Research Team
Wachovia
The Eurozone has moved into its first technical recession ever after data released overnight showed Q3 GDP of -.2% following negative Q2 growth. The EUR has given up gains made on the back of a US Equity rally made last afternoon.
Yesterday the GBP reached an all time low versus the EUR and GBP/USD continued to move lower for a third straight day.
EUR/JPY dropped significantly as risk aversion in the market continues to drive the unwinding of carry trades. The yen gained strength relative to the dollar over night as well. It has moved over 1% lower, relative to where it closed yesterday.
U.S. One and Three month LIBOR moved higher for a second straight day, indicating that the credit freeze may not yet be thawed.
Data releases for today included Retail Sales which was reported lower then expected. University of Michigan Confidence and Business Inventories will come out later this morning.
Published on
Fri, Nov 14 2008, 14:15 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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