USD Trading Outlook (18-09-2012)
U.S. Dollar Trading (USD) weak stock markets prompted commodities to fall back sharply overnight. OIL/USD fell $3 in a very short period from $98 to $95 in what they are calling a ‘flash crash’ for the energy. The SEC is currently investigating the move which traders suggest was computer programmed high frequency trade that caused the move. Some concerns regarding Spain Bond spreads added to the downside pressure. Looking ahead, FOMC Member Dudley Speaks. Also Q2 Current Account forecast at 38bn vs. 37bn previously.
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