05-07-2010, 07:28 AM
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Superior Investor
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Join Date: Sep 2008
Posts: 11,435
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Daily Report: Dollar Firm after Crazy Day, Focus Turns to UK Election, US NFP
While the near 1000pts intraday loss in DOW might be triggered by "fat finger problem" where someone entered a 'b' for billion instead of an 'm' for million in a trade", the risk averse sentiment is undeniable as DOW still closed down -3.2%. Nikkei followed and is down -3.2% in Asia. Crude oil is trading at around 77 level and lacks buying to send it back above 80 level. Dollar index is currently consolidating around 85 level and remains firm. Investors are still concerned of the contagion effect of debt problems in the Eurozone.
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