4 Sep 2013
Flash: US Stocks slide on Syria, EUR/USD 7 week lows - Danske Bank
FXstreet.com (Barcelona) - Danske Bank strategists note that US stock markets opened higher in a catch-up after being closed for Labor Day, but then slid during the session as congressional support for military strikes on Syria appeared to gather momentum.
Key Quotes
“(Stocks) only closed marginally up on the day despite the positive surprise from US manufacturing ISM which managed to improve further after a jump in July with new orders as high as 63.2.”
“The republican speaker, John Boehner, said that he will back the president’s call to action and Obama also won the support of other leading congressional Republicans at a meeting with them yesterday.”
“The increased likelihood of a US military strike sent oil and gold prices higher while the improving economic situation weighed on treasuries.”
“EUR/USD is trading around the lowest level in seven weeks. French president François Hollande is now opening the door for a parliamentary vote on military action in Syria though the constitution only obliges him to inform parliament.”
“This morning Asian stock markets are trading in negative territory on profit taking and Syria.”
Key Quotes
“(Stocks) only closed marginally up on the day despite the positive surprise from US manufacturing ISM which managed to improve further after a jump in July with new orders as high as 63.2.”
“The republican speaker, John Boehner, said that he will back the president’s call to action and Obama also won the support of other leading congressional Republicans at a meeting with them yesterday.”
“The increased likelihood of a US military strike sent oil and gold prices higher while the improving economic situation weighed on treasuries.”
“EUR/USD is trading around the lowest level in seven weeks. French president François Hollande is now opening the door for a parliamentary vote on military action in Syria though the constitution only obliges him to inform parliament.”
“This morning Asian stock markets are trading in negative territory on profit taking and Syria.”