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Session Recap: Stocks, currencies or commodities may fall apart; you better You bet

FXStreet (San Francisco) - 1995 Van Morrison song's "Days like this" says that people should be ready to face either a bad or a good day as it could be the opposite as soon as a butterfly flies. It seems to be the market's motto these days when either stocks, currencies or commodities fall apart with no effect in others.

So what's your bet? Adam Button from Forexlive pointed out in a recent report that "if it’s not one thing, it’s another. Stocks managed to close the day nearly unchanged but oil fell off a cliff and the Canadian dollar went down with it."

Firstly, US stocks market closed mostly flat on the day as major indexes lost almost all early gains as investors digested earnings from banking sector but are concerned about global growth. Intel released after hours earnings and it topped forecast.

Secondly, Oil crude collapsed even more as the black gold was traded at lows since June 2012 at $81.30 before closing just below the $82.00 area.

Thirdly, currency market traded quiet with Dollar gains as investors assumed that rate hikes/movements were postponed. EUR/USD was rejected by the 1.2750 area again as the pair returned to Monday's lows around 1.2630.

GBP/USD fell to 11-month lows at 1.5895 where the pair closed the day. USD/JPY just bounced shy from 106.65 to close barely positive above 107.00. Meanwhile, the USD/CAD was trading on its side as the Canadian Dollar was under pressure by the oil. USD/CAD jumped to 1.1310, highs since July 2009, before closing just below 1.1300.

Finally, Fitch informed that the agency placed France AA+ rating rating on watch to negative. Fitch sees deficit and debt is deteriorating and they expect 2014's GDP at 0.4% and 2015 at 0.8%.

Do you wanted volatility? So you got it... Frustrate me, Liberate me... Cause everything's falling apart.

Main headlines in the American session

Eurozone Industrial Production data disappoints - ING

European Commission likely to reject Italy’s budget – RTRS

US crude loss extends to 4%, largest one-day loss since 2012

Wall Street loses early gains and closes barely positive

Fitch puts France’s ‘AA+’ IDR on rating negative watch

GBP/JPY: Risk of a deep setback into 157.07/156.50 - JPMorgan

Thomas Anthonj, FX Strategist at JP Morgan, sees GBP/JPY facing a considerable risk of a deep setback into 157.07/156.50.
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GBP/USD pressing on the 1.59 handle

GBP/USD is trading at 1.5902, down -0.01% on the day, having posted a daily high at 1.5908 and low at 1.5901.
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