 Markets experienced a roller-coaster ride in the first week of September. S&P 500 and NASDAQ extended record runs and it looked like DOW was on the way for a catch-up. Then technology stocks led a steep selloff towards the end of the week and pulled all indices sharply lower. Nevertheless, late recovery on Friday gave investors some hope that up trend was not in much risk yet. Dollar ended as the second strongest, outshone by Canadian, followed by New Zealand Dollar. On the other hand, Australian Dollar was the worst performing one, followed by Swiss Franc and then Yen. The greenback's rebound was some what disappointing as no key resistance level was taken out. The Loonie was indeed very impressive considering the decline in oil price. We'll probably know soon if the wild moves were just jitters, or the tides are turning. |
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