MORNING BRIEFING: The United States out of recession.

[RTFX-Trading]

MORNING BRIEFING: The United States out of recession.

What’s new:
France: French growth in Q3 identical to that of Q2.
Japan: BoJ expects three years of deflation.
England: the program of quantitative easing by the BoE is completed.
United States: the U.S. has returned to growth in Q3 2009.
Switzerland: the tone rises to the fiscal war between Switzerland and Italy.
USA: declining weekly jobless claims to 530,000.
Germany: surprise decline in the number of unemployed in October.

Today:



Rates in Asia and Indices:
EURUSD: 1.4858 - 1.4815.
USDCHF: 1.0194 - 1.0171.
EURUSD: 1.6579 - 1.6524.
EURJPY: 135.92 - 134.73.
USDJPY: 91.58 - 90.84.
Dow Jones: 9'962 +2.05%.
NASDAQ: +1.84% 2'097.
S & P 500: +2.25% 1'066.
Nikkei: 10'034 +1.45%.
Shanghai +1.75% 3'012.
Gold: $ 1'047 .50.
Crude oil: $ 79.93.
 
Comments:

Something difficult to understand, the U.S. dollar fell after the figures of U.S. GDP in the third quarter marked the release of recession in the U.S.! But now, as the dollar is considered a safe haven currency, the "greenback" has dropped to 1.4860 against the euro, 1.6604 against the pound sterling and 1.0168 against the Swiss franc. Additionally, weekly jobless claims declined slightly. Investors are optimistic about the new macroeconomic outlook, resulting in a return of risk appetite (carry trades), a strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate.

Good day.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
Fax: +356 21 41 24 58
Web: www.rtfx.com

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