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The US dollar fell against the majors and a strong decline in US stocks

2018-10-11 07:11 am | Resource: News | No Views : 157

 The US dollar, traditionally a safe haven, fell unexpectedly despite stocks falling. While the Australian dollar rose on Thursday even after the global markets fell sharply

The Dow closed down 940 points from Tuesday's high

In the worst selling since February, the Dow Jones industrial average finished trading on Wednesday, down 887 points from Monday's close and 941 points lower than Tuesday's high. The index lost 1% last month and 4.58% last week, reaching its lowest level since August 23. Nike led the losses as it dropped 6.81% when the closing bell.

The Nasdaq 100 was hit by a massive plunge in technology stocks, with the giant companies pulling the index down 327 points, or 4.44%. In the last seven days, fell 7.76%, and 5.41% per month. Netflix fell 8.38%, Microsoft was 5.43% in the red zone with Apple after falling 4.63%. Facebook lost 4.13%, while Intel fell 3.76%.

The S & P 500 was down 3.29% at closing, with the worst performers Tiffany & Ralph Lauren, falling 10.22% and 8.44% respectively, and Twitter, which lost 8.47%.

The US dollar index fell
  • The dollar index, which measures the greenback versus a basket of other currencies, fell 0.2% to 94.96 by 0542 GMT.
  • The AUD / USD pair was up 0.4% at 0.7075.
  • The Japanese yen rose as a safe haven against the dollar for the sixth consecutive session as the pair traded 0.1% to 112.17.
  • The greenback was up against the Chinese yuan, up 0.1% at 6.9322 as the People's Bank of China set the reference price of the yuan at 6.9098 against the previous day's price of 6.9072.


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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 22 February 2019

Time frame Used - four hours The USD/JPY is moving in a sideway direction in the near term. The USD/JPY is still facing resistance and selling pressure around levels of  111.42 - 110.92 as the USD/JPY is floating in a narrow range and the USD/JPY is moving above the Bollinger's moving average line within the narrow range, indicating a potential price explosion but Not yet determined in any direction. In…

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