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Charts: Taking their Cue from the EUR
Markets have been moving on one thing and one thing alone which is the European sovereign debt crisis. There was quite a bit of volatility in the markets this morning, caused largely by the shifting sentiment in the financial markets. Interestingly enough, everything (Dow futures, EUR/USD and Greek CDS spreads) moved at the same time. The first chart shows intraday swings in Dow futures and the EUR/USD while the second chart shows the intraday volatility in Greek CDS spreads. Don’t expect this relationship to change anytime soon as investors in all markets take their cue from the euro