Forex: US stocks accelerates losses, as risk-off mode sharpens

FXstreet.com (Barcelona) - Markets in the US are trading lower on Thursday, as tensions around the Gaza Strip are escalating, after Hamas launched rockets against Israel in response for previous air strikes.

Risk-off trade has prevailed in the first half of today’s session, and risk appetite has taken over after the NA open. The European docket was dominated by preliminary GDP figures in euro zone members and the bloc as a whole, confirming that the 17-nation zone has slipped back into recession after three years. The single currency has found some extra support after the speech by ECB’s M.Draghi and CPI prints matching estimates, leaving the recent comfort zone around 1.2750 to climb as high as levels just above the key psychological resistance at 1.2800. Markets in Euroland have closed mostly in red, with DAX losing 0.82%, FTSE100 0.77% and CAC40 0.52%. The exception was the Ibex35, up 0.29% for the day.

The greenback in the meantime is trading flat around 81.10, regaining ground after bottoming below the key mark at 81.00
DowJones is down 0.41% hovering over 12,500 pts, while S&P500 and Nasdaq are following suit, falling 0.35% and 0.49%, respectively.

Crude oil is markedly down, losing more than $1.60 at 84.74 or -1.81%, after the EIA informed that crude oil supplies raised by 1.1 million barrels, less than expected. Poor GDP figures in the euro zone are also collaborating in the decline of the WTI.
Gold is also trading iin red, down 1.03% just above $1,710/oz as of writing.

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