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11/23/2008 - Risk appetite dictating the pace in a very emotional market

Posted by FOREX.com's Weekly Strategy in November 21st 2008  
* Risk appetite dictating the pace in a very emotional market
* Treasury auctions and auto bailout key for the buck's direction
* Key data and events to watch next week

Risk appetite continued to dictate the pace in very emotional markets this week. US stocks got decimated nearly -14% as a supposed deal to bring relief to the US automakers and speculation that a large US bank would be split up and sold never materialized. The S&P 500 took out the 2002 intraday low and made a fresh 11 year nadir just above the 741 mark as we write. The buck was once again the beneficiary of this flight to safety and the USD index jumped 2% on the week.  Full text »

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Filed under: Weekly Strategy