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Weaker Dollar Drives Stock Markets Higher

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Nov 16, 2009.

  1. futuretrends24

    futuretrends24 New Member

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

    Stock markets surged on Monday after the U.S. Dollar Index fell to a new low for the year. With the Dollar losing its appeal as a safe haven currency because of falling interest rates and deepening debt, investors have no choice but to sell the Dollar and seek better returns elsewhere.

    Treasury markets rallied sharply higher after a downward revision in September Retail Sales. This news helped put in a bottom and generate a quick rally to the upside, but it was comments from Fed Chairman Bernanke that triggered a huge rally. He reiterated the Fed’s FOMC statement that interest rates would remain low for a “prolonged period”.

    The U.S. Dollar finished lower against all-major currencies today. The down move was triggered by comments from highly ranking individuals including Fed Chairman Bernanke and a Chinese banking official.

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

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