Today's Market Update - Asia Session

By FOREX.comNov 18, 2008 07:00PM ET

www.investing.com/analysis/fundamental/today%2527s-market-update---asia-session-13165

Today's Market Update - Asia Session

By FOREX.com | Nov 18, 2008 07:00PM ET

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This session's big question would have to be whether the moves (or lack thereof), that we saw are a return to the markets prior to the credit turmoil, or a proverbial ''calm before the storm''. I don't have an answer for you, but there is no dismissing the fact that in comparison to the moves we have become accustomed to over the past few months, the past eight hours were like watching paint dry. The big mover of the session was undoubtedly USD/JPY, which saw the Yen strengthen on speculation that there will be no $25 Billion bailout for the big three US auto makers. The USD/JPY pair peaked early at near 97.16, and it was all downhill from there as the pair finally put on the brakes near 96.33 and reversed closer to 96.60 to close out the session. The Yen also gained a bit of steam as the carry trade was once again abandoned, and as it was abandoned EUR/JPY fell from early highs of 122.70 to 121.46. AUD/JPY saw the bigger decline, as it fell from 63.41 early on to 62.14 by session end as Asian stocks looked soft. The AUD/JPY has lost almost 2% from early yesterday, NZD/JPY almost 1%.

The EUR/USD did almost nothing all session and stuck in about a 35 pip range in subdued action. The GBP/USD made a quick break to the downside, but was still unable to beak the 1.4900 figure it had tested earlier in NY. Most other pairs were stagnant, and as stated earlier can this be the beginning, or the end.

Upcoming Economic Data Releases (London Session):

11/19/2008	3:50	AU	Assistant RBA Governor Edey Gives Speech in Sydney	19-Nov
11/19/2008	9:30	AU	Reserve Bank Governor Stevens Speaks in Melbourne	19-Nov
11/19/2008	9:30	UK	Bank of England Minutes	19-Nov
11/19/2008	10:00	GE	Bundesbank's Reckers Holds Speech in Frankfurt	19-Nov
11/19/2008	11:00	UK	U.K. CBI November Industrial Trends

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Central Banks

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May 07, 2025

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2.65%

Apr 17, 2025

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4.50%

May 08, 2025

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0.25%

Jun 19, 2025

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4.10%

May 20, 2025

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Apr 16, 2025

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3.75%

Apr 09, 2025

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May 01, 2025

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6.25%

Apr 07, 2025

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3.10%

BCB

14.25%

May 07, 2025

US 30	38,227.5	-2318.4	-5.72%
US 500	5,062.7	-333.9	-6.19%
Dow Jones	38,314.86	-2231.07	-5.50%
S&P 500	5,074.08	-322.44	-5.97%
Nasdaq	15,587.79	-962.82	-5.82%
S&P 500 VIX	45.31	+15.29	+50.93%
Dollar Index	102.770	+0.970	+0.95%

Crude Oil WTI	61.99	-4.96	-7.41%
Brent Oil	65.58	-4.56	-6.50%
Natural Gas	3.837	-0.301	-7.27%
Gold	3,035.40	-86.30	-2.76%
Silver	29.230	-2.740	-8.57%
Copper	4.4020	-0.4265	-8.83%
US Soybeans	977.00	-34.50	-3.41%

U.S. 10Y	3.999	-0.037	-0.92%
U.S. 30Y	4.416	-0.060	-1.34%
U.S. 5Y	3.705	-0.031	-0.83%
U.S. 3M	4.253	-0.040	-0.93%
US 10Y T-Note	113.05	+0.41	+0.36%
Euro Bund	130.52	+0.68	+0.52%
10-2 Yield Spread	31.32	+4.15	+15.27%

Apple	188.38	-14.81	-7.29%
NVIDIA	94.31	-7.49	-7.36%
Alphabet A	145.60	-5.12	-3.40%
Tesla	239.43	-27.85	-10.42%
Amazon.com	171.00	-7.41	-4.15%
Netflix	855.86	-61.19	-6.67%
Meta Platforms	504.73	-26.89	-5.06%

Today's Market Update - Asia Session

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