Equities: Stocks finished marginally higher today, well of their intraday highs. Again, nothing much happening in terms of news or any fundamental drivers. Should get more exciting later in the week when retail sales and trade balance come out.
Currencies: Risk aversion returned to the currency market today as the Dollar rose against the Pound and the Euro, and the Yen rose against the Dollar. Respective gains were pared somewhat as the day progressed, but again so significant events to drive the markets today. UK trade balance came in worse than expected, a sign that the weak pound has yet to have the desired effect on exports.
Commodities: Oil traded lower on the day, nothing fundamental as a driver except perhaps Dollar strength. Inventory reports out tomorrows should provide more direction for the market in the short term. Oil is being pulled in different directions, with strength in equity markets pulling it higher, but Dollar strength and inventory buildups pulling it down. Gold was pretty flat on the day, unmoved by Dollar stregth.
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