Forex – Commodities – Stocks: Headlines of August 24th

BinaryOptionsNow | Published on August 24, 2011 at 8:15 am

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Here are the main headlines of the day about the Forex, Commodities and Stock markets:


  • US Equities ignored another bunch of weak economic data and rallied on Tuesday as investors are speculating that Bernanke will unveil further Fed action to spur growth on Friday. The S&P ended the session up by almost 3.5% led by energy and technology shares. This morning, most Asian shares trade in negative territory.


  • Moody’s Investors Services cut its rating on Japan’s government debt by one notch to Aa3 this morning, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies.


  • A beleaguered Muammar Gaddafi vowed to fight on to death or victory after rebels forced him to abandon his Tripoli stronghold in what appeared to be a decisive blow against the Libyan leader’s 42-year rule.


  • The yuan rose against the US dollar in early trade after the People’s Bank of China fixed its mid-point at a record high, signaling the government is permitting another leg of yuan appreciation.


  • A 5.8 magnitude earthquake shook the east coast of the US on Tuesday afternoon forcing evacuation of buildings in Washington DC, including the White House and Pentagon. There were no reports of major damage or serious injuries.


  • All criminal charges against Dominique Strauss Kahn were dropped in a New York court, handing victory to the former IMF head .


Today, the eco calendar contains the German IFO indicator, the euro zone industrial new orders and US durable goods orders.

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Source: KBC


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