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Firm Crude Oil Market Helps Trigger Late Session Equity Rally

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Sep 10, 2009.

  1. futuretrends24

    futuretrends24 New Member

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

    Stock index futures made new highs for the year as appetite for risky assets picked up late in the trading session. The markets traded firm most of the day, buoyed by a better than expected U.S. Weekly Initial Claims Report. After trading in a range throughout the midsession, upside activity picked-up following a better-than-expected oil inventory report sent oil stocks higher.

    The U.S. Dollar finished the day lower against most major currencies. The Dollar lost ground versus the Euro as record low interest rates in the U.S. made the Euro Zone currency a more attractive investment. Traders are beginning to factor in the possibility that the U.S. will be one of the last nations to raise interest rates.

    The September British Pound posted a strong gain versus the Dollar after the Bank of England voted to leave its benchmark interest rate unchanged at 0.50% and its quantitative easing program untouched. The latter could be a sign that BoE members believe its stimulus buying is helping to achieve economic stability in the U.K.

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

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