Market Overview

ForexLive North American Wrap: Stocks Mangled After Election

ForexLive North American Wrap: Stocks Mangled After Election

S&P 500 falls 2.4% to 1395
Rehn: If Spain asks for aid, we will be ready to act
US Sept consumer credit rises $11.36B vs $10.18B exp
Boehner: House Republican ready to work with Obama on deficit; puts tax hikes on table under right conditions
Cantor: not so fast
Greenspan: China has ‘obviously' manipulated the yuan to expand job growth
Home prices rise in 120 of 149 US metro areas, NAR
Merkel sees first signs of overcoming crisis
Fitch sovereign head: Fiscal cliff deal, rise in debt ceiling would preserve US ‘s AAA rating
Moody's: Will decide on US rating after outcome of 2013 budget negotiations
Poland cuts rates for first time since 2009
Soft 10-year auction
Italian debt chief: No major imbalances in Italy except for the debt
Oil down $4.08 to $84.64
JPY leads, EUR lags

Massive beatdown in the stock market but major FX pairs all less than 50 pips from yesterday's open. There is some serious dissonance there.

EUR/USD fell to a two month low but found a bid ahead of 1.2730 and rebounded to 1.2770.

AUD/USD impressively held 1.04 and suffered no technical damage despite the rout in stocks.

USD/CAD was less fortunate and is close to posting an outside bullish day.

Lots of chatter about from gold bulls about the benefits of an Obama win.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Markets Trading Ideas


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