Wednesday, July 1, 2009
EURUSD Chart with Important Events and S&P 500 Prices
Here's a chart that I have been trying to get myself to put together for the longest time. I wanted to see how the EURUSD pair reacted in relation to news events (only events that BabyPips.com lists as "red flags" are marked) and S&P500 prices.
I'm still trying to piece together what it all means and will probably miss something given the limited amount of data I utilized, but hopefully I can develop some conclusions. For instance, there is some correlation between the strength of the USD and the quote on the S&P 500 (albeit, many have mentioned this before). A strong dollar, i.e. a low reading on the EURUSD, prohibits the S&P500 from rising without significant impetus.