Currencies

A positive statement from the Fed sent Wall Street crashing from its highs. Dow down 81.

As world leaders meet tomorrow to discuss ways of rebalancing the global economy to prevent another GFC, thoughts turn to the Plaza Accord of 1985.

National Australia Bank has lifted its Aussie and New Zealand dollar forecasts against the greenback.

A weak US dollar sent commodity prices higher once more, encouraging buying in stocks. Dow up 51.

NAB suggests the Australian dollar is not overvalued, while Macquarie sees the Kiwi dollar posting further gains against the USD.

Wall Street opened weak ahead of the Fed meeting and G20 later in the week, with tech stocks preventing bigger falls. Dow down 41.

CBA believes market speculation the US dollar will become the world’s primary funding currency for the carry trade will prove incorrect.

It was another good day on Wall Street, with stocks shaking off yesterday’s hiccup to react to a positive spell cast by quadruple witching.

Wall Street could not post another positive session despite relatively strong economic data. Dow down 7.

Danske Bank suggests weak underlying fundamentals and a similar technical picture should see the US dollar fall further against the euro in coming months.