David Long

Some safe haven flows

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Forex Market News


The Greenback is still the king at the moment. Emerging markets are at decade lows, Russia is stuffed, although there is minor bounces overnight due to oil and other energy prices.


The liquid gold has lost its sheen and has hit new lows overnight, trading under $64. There is speculation that this is a US squeeze on Russia and Iran. Whatever the case may be, it is certainly hitting them hard. Russia is in real strife, Iran, well, it was poor already.

Stocks off

What this sell off in energy has done though, it has also put pressure on energy stocks. The S&P500 has had a large range and hovers just off the lows for the day, being down 0.6%. Not huge but large enough to notice. So, what we see is funds flowing into safe havens such as gold and yen. Yen is also getting a little attention for being overdone and with elections coming up on Dec 14 some profit taking.

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