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That Didn’t Take Long!
By Mike Conlon | September 22, 2009
It looks like the markets now are soooo convinced to not expect anything out of the FOMC and Ben Bernanke that they are not even going to wait for the confirmation. Risk appetite is back today in a major way and the dollar is giving back some of the short-term gains I mentioned in yesterday’s blog post and then some. The US dollar is down across the board, most notably against the commodity currencies; kiwi NZD (-2.07%) and aussi AUD (-1.13%). The US equitites markets are positive and its been good morning for oil (+1.82%) and gold (1.48%) as well.
The only question that remains is whether or not the G-20 meeting at the end of the week will change the course that the US Fed is on. I’m guessing that outside of the usual suspects clamoring for a new world reserve currency, everyone is going to be on board as they realize that the only way to see dollar strength is to watch all other markets collapse.
So pick your poison, hold your nose, and take a big sip!
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Tags: AUD, Bernanke, blog, commodity, course, currenc, currencies, currency, dollar, dow, fed, gold, Il, Kiwi, market, meeting, Mike Conlon, nzd, oil, short, ssi
Topics: What To Look At In The Market |