With today’s early trading sessions lacking in liquidity, the safe-haven assets and their riskier counterparts were seen trading with little direction. The euro (EUR) so far has managed to capitalize on these maneuvers, with mild gains seen against its primary rival, the US dollar (USD).
The riskier assets of Europe and the South Pacific have been seen losing ground substantially these past few weeks as market pessimism leads to flights to safety; often found in the dollar and gold. With days like today, where market news is almost non-existent, a natural floating movement almost seems to favor riskier assets. Some might say this phenomenon is due to the free-floating value of assets in a market devoid of pessimistic data.
