XE Market Analysis: The VIX Index Surges as Risk Aversion Dominates the Financial Markets

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OVERVIEW

  • The VIX index, which is commonly referred to as the ‘fear index’, has surged to a reading above 50, which is equal to levels we saw in June 2016 in reaction to Brexit.
  • German industrial orders surge 3.8%, helped by strong demand from abroad.
  • The Reserve Bank of Australia leaves rates on hold at 1.5%.

HIGHLIGHT