EUR Plunges on Weak Eurozone Growth
EUR Plunges on Weak Eurozone Growth
The greenback edged higher against the euro on a combination of better than expected US economic reports and continued risk aversion flows. Crude oil slid by over 3.5% to around $56.50 per barrel, while US equities also dipped lower with the Dow Jones and S&P 500 both lower by more […]
Industrial Production: Before the Auto Deluge - Production Still Weak
Industrial Production: Before the Auto Deluge - Production Still Weak
Before the downdraft in auto production that hits in May and June, April industrial production fell 0.5 percent with weakness in machinery and mining. Construction supplies fell again, consistent with the housing correction. Capacity utilization signals weak profits and no pricing power. Data are consistent with […]
Credit Woes And Weak Economic Data Spark Selloff In Financial Markets
Credit Woes And Weak Economic Data Spark Selloff In Financial Markets Market Brief
The dollar strengthened across the board as the financial markets were overwhelmed by the siege of risk aversion. The EurUsd fell over 120pips falling below 1.30 to the low range of 1.29, while the UsdJpy dropped 113pips finding support at 98. The GbpUsd […]