FXstreet.com (Córdoba) - Stocks finished mix around the world. In Asia markets fell sharply, in Europe ended practically unchanged and in Wall Street stocks finished mostly lower after a surprise decline in consumer confidence. A high demand for Treasuries showed that safe assets still have high demand. Gold extended its decline and fell to $1,035 an ounce. Crude oil recovered and rose more than 1% but holds below $80 a barrel.
The ecPulse.com analysis team comments on Tuesday session: U.S stocks fluctuated in today's trading session whereas most stocks closed in RED for the third day as confidence dropped today as consumer confidence report showed an unexpected drop during the month of October as fears from unemployment and economical conditions continue to hammer down economical activities thus raising doubts among investors on how strong will the economical recovery by during the third and fourth quarter of this year.
Dollar ended mix, as it rose against the Euro and the Swiss Franc but fell to the Yen and the Pound. EUR/USD fell for the third day in a row and bottomed at 1.4769, posting a two-week low. The pair later recovered and rose back above 1.4800. GBP/USD posted moderate gains. The pair was rejected from levels above 1.6400 but found support at 1.6300. Cable rose sharply against the Swiss Franc and also to the Euro.
USD/JPY fell for the first time after four days with gains. Dollar failed to rise above 92.25/35 and weakened. The pair broke a support at 91.80 weakening the Dollar. The Yen posted important gains to the Euro. EUR/JPY continues to pull down from 138.45 and ended below 136.00.
The GCI Financial Team affirms: The yen also gained ground on news that some overseas investment trusts are maturing, possibly leading to repatriation of yen assets. The big news involving Bank of Japan over the past few trading sessions is that Bank of Japan believes deflationary pressures will remain in Japan through at least 2011.
Against currencies tied to commodities, Greenback finished mix but far form multi-month lows.