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US Dollar Rallies, Crude Oil Tumbles on Global Growth Fears
Thursday, 16 October 2008 17:19:36 GMT
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- Wednesday, 14 October 2009 18:31:01 GMT Crude Marks New Year High, Extends Five-Day Rally as Dow Advances Fills in for Delayed Output Numbers
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- Wednesday, 14 October 2009 13:08:21 GMT U.S. Retail Sales Fall Less Than Expected On Broader Demand
- Wednesday, 14 October 2009 11:24:58 GMT Overnight Interest Rate Update 10.14.09
- Wednesday, 14 October 2009 11:14:50 GMT European Industrial Production Rises, Adds Too Recovery Signs
- Wednesday, 14 October 2009 10:23:33 GMT Greenback Finds No Relief in Overnight Trade (Morning Slices)
- Wednesday, 14 October 2009 04:10:16 GMT UK Claimant Count Rate Holds Flat; Jobless Claims Falls to 20.8K
The US Dollar rallied despite clearly disappointing US Industrial Production data, as renewed fears of a pronounced slowdown encouraged traders to seek the safety of the world’s foremost safe-haven currency. Dollar strength and recession fears likewise sparked sharp sell-offs in global commodity prices; crude oil futures now trade at their lowest levels since June, 2007. Continued fears over the future of global economic growth and general financial market instability seems likely to further fuel dollar advances and simultaneous commodity price tumbles.
Written by David Rodríguez, Quantitative Analyst for DailyFX.com
To contact the author of this report, e-mail drodriguez@dailyfx.com
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