Daily Market Report
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Crude oil received a great deal of attention yesterday
Fri, Nov 21 2008, 12:54 GMT
by Wachovia Research Team
U.S. equity markets traded sharply lower yesterday afternoon for the second day in a row, with the S&P 500 Index plunging to its lowest level in 11 years. Sentiment towards the broader global economy continued to deteriorate, giving the dollar strong support. Overnight; however, Asian and European markets managed to ignore the U.S. selloff and some actually advanced. With foreign equity markets flat to slightly higher, the yen is trading weaker against most of its trading partners from yesterday's peak.
Crude oil received a great deal of attention yesterday as it traded under $50 a barrel to its lowest level since May 2005. Lower crude oil prices continue to weigh on commodity linked currencies such as the Canadian dollar, Australian dollar, and Brazilian real, which thrived when crude was trading at its highs earlier this year.
There is no significant data being released today, Fed officials Lacker, Plosser, and Evans are scheduled to speak throughout the morning.
Published on Fri, Nov 21 2008, 14:04 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
Wachovia Corporation
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