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Equity Markets Finish Lower in Lifeless Trade

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Sep 2, 2009.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
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    Today’s sample of Futures Analysis from FuturesHound.com

    U.S. stock indices finished lower today in a lifeless trade. The inability to follow-through to the downside early this morning, following yesterday’s sharp break, encouraged shorts to cover. The lack of fresh economic news helped keep this market range bound for most of the day. This could be an indication that major players will be on the sidelines until Friday’s U.S. Non-Farm Payrolls Report.

    Treasury markets remained firm throughout the day. Traders may have been moving money out of equities and into Treasuries for safety. Lingering rumors about a possible major bank failure could also be causing traders to seek safety in September Bonds and Notes.

    The U.S. Dollar lost ground to most major currencies. The September British Pound was especially strong because of oversold conditions. The September Japanese Yen continued its strong uptrend. Investors are moving money into Japanese bonds because of the attractive yields. The September Canadian Dollar struggled most of the day because of weaker crude oil and stock prices. Trading was light in the September Euro as traders decided to stand aside before tomorrow’s European Central Bank meeting.

    Read full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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