Market News
September 14, 2012 @ 5:51 pm

Markets Continue Post QEX Rally for Second Day – EUR/JPY +280 Pips

Almost 24 hours after the FOMC’s latest monetary policy decision, QEX, markets continue their risk on rally. In the forex market, the biggest winner among the majors today was the EUR/JPY. The pair is up 189 pips today, after opening the day at 100.63 its trading at 102.52 at the moment. The EUR/JPY was trading at 99.72 before the Fed’s QEX decision, the pair is up 280 pips in less then a day post the FOMC announcement. The Euro’s out-performance versus the Yen has been helped by a rally in USD/JPY. After falling in the days before the FOMC, the pair rallied on the actual announcement and is now trading 89 pips higher from its pre-release price.

The Euro had strong performance against the dollar too. EUR/USD is up 111 pips on the day, trading at 1.31 at the moment. The pair was trading as high as 1.3167 earlier in the session but has since pulled back some of the gains. It was trading at 1.2885 pre-FOMC, total post QEX rally for the EUR/USD is at +215 pips. Most majors gained some ground against both the dollar and the yen today. The Aussie is up 18 pips against the dollar and 98 pips against the Yen. The Pound is up 73 pips versus the dollar and 183 pips against the yen.

Other markets also rallied in a risk on fashion. Gold is up 4 points today, after rallying over 40 points yesterday. Oil is up 61 points on the day, total post QEX gain for Oil stands at 130 points. It was briefly trading above 100 earlier in the day, reaching as high as 100.40 before pulling back. Oil is trading at 98.66 at the moment.

Stock markets also look set to close in the positive for a second day in a row. The Dow Jones is up 45 points today, trading at 13,561. The Index was trading at 13,348 pre-FOMC, total gain for the DJ post QEX stands at 213 points right now. Other stock markets around the world also rallied on the news. The Euro Stoxx 50 is up 49 pips since the FOMC, trading at 2,587 at the moment. The German DAX has gained 90 points since the announcement and is at 7,390 right now.

Related Posts Plugin for WordPress, Blogger...
, , , , , , , , , , , , , ,

About Fx_Livermore

Fx_Livermore has over seven years experience in forex trading. He uses a mix of technical and fundamental analysis in his trading. His posts should not be taken as trading advice/recommendation to buy/sell any currency/security.

View all posts by Fx_Livermore

No comments yet.

Leave a Reply

You must be logged in to post a comment.