Anxiety over the massive coordinated money printing program continued this week, pushing the EUR and CHF to new all-time lows and the USD to the lowest level since February. For the week, though, the JPY dropped more than either the USD or EUR, losing 1.3% to close at 0.223 mg.
Cotton also continued to drop, hitting another new all-time low of 12.5 mg/lb, down 5%. But the weakest asset of all was Crude Oil, down 6.6% to close the week at 1.62 g/bbl.
Paradoxically, TLT, representing the long term US treasuries, was the strongest performer for the week, up 2.2% to 2.12 g. The only other gainer was the HUI gold stock index, which rose 1%.
Comments on Market Update 21 Sep 2012 – EUR, CHF and Cotton
Thanks for these updates. I find them very informative.