Market Research: EUR

Source: Dukascopy Bank SA
China's crisis continued to be the main driver of the market in the past week. Monday's fall of the US and European stocks, called new "Black Monday" by the media, led to the strengthening of the safe-haven currencies. Thus, the yen has soared rapidly and, despite the disappointing inflationary data released on Thursday, became the undisputed leader of the period. Meanwhile, things took a different turn for the Pacific currencies, the Loonie, and the pound, and their indexes spent the whole period below the baseline. The commodity currencies took a turn to recovery later in the period, as the oil prices started to edge up, but still failed to get out of the negative area.

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