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  1. News in 60 Seconds: G-7 Conference Call all day today as they assess the markets!

    by , 05-07-2010 at 10:03 AM (News in 60 Seconds)
    Yesterday was a unique day. You can count those days on one or two hands as to how many times you'll likely see something like that. GBP/JPY was down around 1,300 pips. CAD/JPY fell 9.80% at its worst. The Dow fell almost 1,000 points. The VIX went up to around 40. Gold cracked $1,200 once again. What a day!

    Biggest % gainers: CAD/JPY up 2.35%, EUR/JPY up 1.90%, NZD/JPY up 1.81%, AUD/JPY upv 1.72%, CHF/JPY up 1.60%, USD/JPY up 1.51%....so the yen is giving back some of its huge gains as the world's fears subside at least in the near term.

    Biggest % losers: GBP/AUD down 1.08%, GBP/CHF, GBP/USD on GBP weakness due to the "hung parliament" in the U.K.

    Gold $1,200 (only about $28 or so from ...
  2. More on Today's Market Action...

    by , 05-06-2010 at 10:34 PM (News in 60 Seconds)
    Now that I've put out the statement from FXCM...I'd like to add on to what they had said (from my own perspective).

    The NYSE and NASDAQ had errors and order issues.

    Electronic Trading to Blame for Plunge, NYSE Says (Update1) - Bloomberg.com

    May 6 (Bloomberg) -- Computerized trades sent to electronic networks turned an orderly stock market decline into a rout today, according to Larry Leibowitz, the chief operating officer of NYSE Euronext.

    While the first half of the Dow Jones Industrial Average’s 998.5-point plunge probably reflected normal trading, the selloff snowballed because of orders sent to venues with no investors willing to match them, Leibowitz said in an interview on Bloomberg ...
  3. A Note from FXCM on Today's Market Action...

    by , 05-06-2010 at 10:32 PM (News in 60 Seconds)
    On May 6 2010, we experienced extremely volatile market conditions across all financial markets.

    We would like to give you a summary of what occurred to explain the reasons behind today’s market volatility.

    First, institutions were very cautious due to tomorrow’s UK Elections, US Nonfarm Payrolls, and the Canadian unemployment rate announcement.

    In addition to that we had several market moving events. These include:

    7:45 ET – European Central Bank Interest Rate Decision

    8:30 ET – Trichet speaks at ECB Monthly News Conference

    14:46 – Dow dropped almost 1,000 points and the bulk of the drop happened in less than an hour. The reason behind this drop ...
  4. Huge moves across the board today!

    by , 05-06-2010 at 02:36 PM (News in 60 Seconds)
    something I've never seen before intraday...a 6% move on the day! wow!

    See the yen pairs go! (visual attached).

    Risk aversion day, JPY, CHF, USD and Gold ($1,190) are all prospering big time today.

    VIX jumps above 30...highest since Nov. 2009.

    Nasdaq down 3.48% today!

    Dow down 284 points!

    Sean Hyman
    DailyFX Forum Moderator
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