In forex today, the US Dollar Index went broadly higher as investor sentiment once again swung to the downside, with equities and key commodities including oil facing declines as traders recoil across the board.
Still-battered US technology stocks are still weak-kneed and cause for concern for many investors, adding to anxieties about burgeoning US corporate debt, still-falling crude oil prices, and decaying spreads in US investment yields.
EUR/USD slides further below 1.1400 as US dollar soars
Last month’s tech-led stock sell-off threatens to continue across the globe, and today’s futures markets are pointing to continued losses in Wednesday’s Asian market session, while the EUR/USD and GBP/USD slipped to 1.1360 and 1.2775 respectively, wiping out the early week’s gains as the Antipodeans likewise stumbled, with the AUD/USD accelerating this week’s losses into the sub-0.7200 region and the NZD/USD trailing close behind, shedding the 0.6800 key level.
GBP/USD tumbles below 1.28 the figure as dollar spikes ahead of potential Thanksgiving squaring
Key notes from the US session
Wall Street fails to stage a recovery as crude oil sell-off weighs on sentiment
US Pres. Trump: Would like to see lower Fed rates
Atlanta Fed: GDPNow estimate for real GDP growth in Q4 falls to 2.5%
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