Stocks rallied last week as a consequence of good data and, as a result, have been driving currencies.

2009-07-20 15:04

The managing Director of Economic Cycle Research Institute said, ''The recession is already ending, with Weekly Leading Index (WLI) growth surging to a five year high, the recession's days are numbered and the coming recovery is looking more resilient''.

Additionally, the outlook among Canadian businesses for future sales was much better than consensus estimates. The Federal Open Market Committee (FOMC) minutes said that unemployment will surpass 10% during the crisis and China’s GDP increase to 7.9%.

Stocks rallied last week as a consequence of good data and, as a result, have been driving currencies. Consequently, the action in the stock market risk appetite (stocks rise) or risk aversion (stocks fall) will drive the US dollar crosses.

WTI participants can reconcile the optimism within these developments with gains in their portfolios. Mariusz Ganczar is still in the lead with gains of 372,63% followed by Karagich István from Hungary with gains of 360,79%. 

 

 

 

 

 

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