What effect has President Obama’s speech had on the financial markets?

What effect has President Obama’s speech had on the financial markets?

Binary Options Analysis – Greece and Obama Stir Up The Markets

Economic Outlook:
Volatility was back in full force Thursday as the markets digested another rating downgrade for Greece. In addition, U.S President, Barack Obama’s anti Wall Street speech did little to soothe risk appetite. Instead, it was positive economic data that turned the markets around. Jobless Claims fell for the first time in two weeks and Existing Homes Sales rose 6.8% versus expectations of a 5.3% gain. On the docket for today, in the U.K, GDP will print. In Canada, Retails Sales figures will be released. In the U.S, Durable Goods Orders will print as will New Home Sales. New Homes Sales figures will not be overly scrutinized unless they fall way short of expectations.

Currencies:
Currency markets swung wildly through the day as markets reacted to various headline news. The big losers on the day were the EUR, down .58% and the CHF also dropping .58%. The CHF touched 1.08 before retracing slightly. The CAD managed to stay just below Dollar parity after touching 1.0038. The DXY rose again, advancing .55% to 81.61, but it was a volatile day for the index, as shown below.

DXY Volatility

Equities:
The Nikkei 225 slid again today after retracing some of it losses the day before. The Japanese Average gave up140.96 points to close at 10,949.09.  In the European session, the Stoxx Europe 50 lost 1.35% while the FTSE 100 fell 1.02% to 5,665.33. On Wall Street, despite the President’s glancing blows aimed at the financial industry, the market stood the course as positive economic data lifted the market 9.37 points.

Commodities:
It was a mixed day on the Commodity front as Oil gained a mere 8 cents to close at .76 while Gold fell .50 to 1,142.30. Copper ended the day lower on a volatile trading day, as it gave back .85. Corn and Wheat were virtually unchanged for the day, although sugar lost 55 cents

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