USD higher as stocks slide and risk appetite fades
USD : Higher, stocks slide, consumption slows, Chicago PMI strong, consumer confidence dips JPY: Higher, stocks slide, consumption slows, Chicago PMI strong, consumer confidence dips EUR: Lower, consumer prices fall ,unemployment rises, German retail sales slip GBP: Lower, Consumer confidence rises, Fitch downgrades seven UK building societies CAD and AUD: AUD & CAD lower, Australia’s credit demand slows, Canada’s GDP declines, CRB drops Overview USD and JPY edged higher Friday
Investors Once Again Dumping Higher Yielding Assets
Investors are dumping higher yielding assets as the lack of follow-through to the upside in equities encouraged traders to turn into sellers from the start today. A bearish Michigan Sentiment Report is being blamed for igniting today’s break, but the groundwork was laid earlier in the week when the Dollar began to strengthen. Yesterday’s gains in equities have been wiped out and downside momentum indicates that more losses are possible by the close. The better than expected GDP number released