Are they always this tied?
Wall St. open; Cable drops ~200 pips, Dow drops ~200 pts. by ~10:30am EST
Wall St. Close; Cable finishes ~35 pips. off open, Dow ~12pts. up from open
- Z
Yes usually they do
thx!
- Z
does this apply to other currency pairs when the USD is the quote, and inversely true when the USD is the base?
I.E.
Dow up = GBP, EUR, AUD, NZD up, JPY, CHF, CAD down?
Well, my question related to the Dow going up ALONG with the cable, so I think you may have it backwards. A lot of times, stocks rising = USD going down… think of it as they’re selling USD for ownership in companies & inversely, when the market crashes, they’re buying dollars & selling ownership.
But, seemingly it’s not that simple. One would think then that the USD/JPY would go down then if the market was rallying, but with the nature of spots, it’s al relative to the pair and the effect of the market on the counter currency makes your brain REALLY work.
Anyone more experienced wanna chime in, b/c I know it’s not that simple!
:o