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Trading news
19 Apr 2013
Forex Flash: It has been a volatile week for financial markets - DBS Group
FXstreet.com (Barcelona) - DBS Group analysts note that it has been a volatile week for financial markets.
They note that Gold prices “stabilized”after a dramatic two-day fall, totaling $200 across Friday and Monday and US equities, as reflected by the S&P 500, fell 3.8% over six days to 1541.61 to its lowest
close since March 6. Apple stocks fell below $400. However, against this backdrop, currency markets did not really do much, with EUR/USD ranging between 1.30-32 and they feel that USD/JPY appears to be tracking Gold prices since its dramatic fall, especially after the muted response to the BoJ´s move to increase the frequency of bond purchases. They write, “Essentially, if gold prices reflect weak growth prospects ahead, the initial push to lower EUR/JPY will have to come from the yen.”
They note that Gold prices “stabilized”after a dramatic two-day fall, totaling $200 across Friday and Monday and US equities, as reflected by the S&P 500, fell 3.8% over six days to 1541.61 to its lowest
close since March 6. Apple stocks fell below $400. However, against this backdrop, currency markets did not really do much, with EUR/USD ranging between 1.30-32 and they feel that USD/JPY appears to be tracking Gold prices since its dramatic fall, especially after the muted response to the BoJ´s move to increase the frequency of bond purchases. They write, “Essentially, if gold prices reflect weak growth prospects ahead, the initial push to lower EUR/JPY will have to come from the yen.”