Stock markets turmoil, rising commodities and week US dollar.
Source: http://stockweb.blogspot.com/2008/06/stock-markets-turmoil-rising.htmlPosted on Monday, June 30th, 2008 | In Current Market News, Stocks to Watch
Global stock markets are still under correction. Major indices haven’t succeeded to rally after they bottomed on March this year. Last week Dow Jones Industrial Average has turned into the bear market by drop more than 20% from recent October high. Market lab show still Head and Shoulders bearish pattern for S&P 500 and DJIA on weekly basis. We have closed 4 consecutive weeks in negative for broad US indices.
Iran tension and weak USD lift crude oil to new all time high. Another commodity supported by current market conditions is gold by endless sub-prime mortgages financial crises.
Worse earnings reports are dragging down shares which again triggers selling pressure on US dollar. Which makes vicious spiral.
Outflow from US dollar and shares helping some markets and their currencies. Especially economies growing still at modest pace. Have a look to Czech currency Koruna. Despite 20% appreciation YTD against USD it breaks new highs every week no matter of intervention of Central bank.
Related tickers: (DIA), (SPY), (OIL), (USO), (GLD), (UUP), (UDN), (XLF),
Last 5 posts by Vlada Kynsky
- Jim Rogers about commodities, China and others. - October 25th, 2009
- How to invest in gold now. - October 18th, 2009
- ETF correlation - October 7th, 2009
- Treasury inflation protected securities ETF - October 4th, 2009
- How to invest in gold. - July 11th, 2009
Bear Market, Consecutive Weeks, Current Market News, Czech Currency, Djia, Dow Jones, Dow Jones Industrial, Dow Jones Industrial Average, Earnings Reports, Financial Crises, gld, Global Stock Markets, Head And Shoulders, Koruna, Major Indices, New Highs, Outflow, Stocks to Watch, sub prime mortgages, Udn, uup, XLF
 About Vlada Kynsky (http://stockweb.blogspot.com/)
Vlada Kynsky studied economics and gained work experience as SAP analyst in information technology. His origin is in Czech Republic but due to different work assignments lived in many European countries. He explores mainly emerging markets. In his research he focuses on ETF and international stocks. Another area of interest are technology stocks. |
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