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Sunday, 08 November 2009 GMT
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Euro / US Dollar Remains Strongly Correlated with Stock Performance
Wednesday, 03 December 2008 02:30:43 GMT
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The US Dollar has appreciated sharply in recent months as traders saw the currency as a safe haven asset, opting to move their funds out of traditionally riskier assets (stocks, commodities) and into cash. This has produced a close inverse correlation between global stock performance and the greenback. We have closely monitored this relationship as it has developed and now see the correlation between the EURUSD pair and the MSCI World Stock index stands at 94.61%.
EURUSD Spot vs. MSCI World Stock Index:
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