Thursday May 20, 2010 - 15:33:46 GMT
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The selloff in global stocks has accelerated, with the Dow down over 2 percent and the Nasdaq losing almost 3 percent (similar declines are seen in the European equity indices). The increased risk aversion has favoured the yen especially other commodity currencies such as the Australia dollar, with the aud/usd now only cents away from the 0.8000 level.
Weekly jobless claims was one of the more bearish data items to appear on the board today, with U.S. leading indicators also falling unexpectedly. The Philly Fed survey was only marginally above the consensus forecast, but some respite has been seen for the euro as its holds around the mid-1.2300 level against the greenback (sterling in comparison has fallen to a fresh marginal low below 1.4238).Join Us and Strategize Your
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