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US stocks rise, USD plummets

FXStreet (Córdoba) - Equities in Wall Street were rising on Tuesday while European markets finished with losses. The currency markets remained steady until the USD plummeted in the market after reports indicated that the central bank of China injected liquidity and amid speculations that the FED might not change the language in the FOMC statement tomorrow. Economic data from the US showed that the US PPI index remained unchanged August and up 1.8% from the last year.

In Europe, the FTSE 100 lost 0.18% while the Dax retreated 0.28% and the Cac 40 declined 0.44%. After the first hours, in Wall Street, the Dow Jones was up 0.77%, the Nasdaq 0.78% and the S&P 500 0.90%.

Greenback is falling across the board, and recently printed a fresh low. GBP/USD approached 1.6300 while EUR/USD 1.3000. Among commodities gold was rising modestly but it was unable so far to hold above $1,240. Crude was rising more than 2%, with the barrel approaching $95.00.

Getting ready for the showdown - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman is getting us prepared for the days that are ahead.
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USD/CHF find support around 0.9300

Greenback weakened across the board and pushed USD/CHF to the downside. The pair bottomed at 0.9299, hitting a 1-week low. Afterwards bounced to the upside and currently trades at 0.9314/16, 0.37% below today’s opening price.
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