The euro (EUR) currently at 1.3496 versus the US dollar (USD), looks set to reach levels last seen in November 2011. The single currency has been gaining strength as investors move away from risk aversion and seem to give Mr Draghi the benefit of the doubt as to Europe’s recovery in the second half of 2013. Growth is reflected on European stocks as earnings from the continent come out higher than expected pushing indices such as the GER30 (DAX) to higher highs.
§ WIT Crude (OIL), currently at 9754, continues its rally as investors believe in a swifter recovery. Looking ahead, tonight’s crude oil inventories, expected at 2 million, will set the pace for later trading.
§ The Australian Dollar (AUD) bounced up against the US dollar (USD) moving to 1.0469 after finding support at 1.038 on Friday.
§ The GER 30 (DAX), tracking Germany’s largest listed companies has maintained its recent growth. After finding a higher low at 7800, it has now bounced back above 7850.
Stay in tune throughout the day with foreign exchange bullets!
|.||EURUSD||1.3460||LONG @ 1.3460||27% of deals buy EUR|
|.||USDJPY||91.00||SHORT @ 91.00||36% of deals buy USD|
|.||GBPUSD||1.5705||SHORT @ 1.5705||59% of deals buy GBP|
|.||AUDUSD||1.0435||LONG @ 1.0435||53% of deals buy AUD|
|.||GOLD||1672||SHORT @ 1672||69% of deals buy GOLD|
|.||OIL||96.25||LONG @ 96.25||19% of deals buy OIL|
|.||USD||13:15||ADP Non-Farm Employment Change||50.0|
|.||USD||13:30||Advance GDP q/q||1.1%|
|.||OIL||15:30||Crude Oil Inventories||2.9M|
Silver (XAG), currently at 31.39, reversed its recent downward trend after testing resistance at 30.75. The precious metal has seen a surge in demand as sales of silver mint coins rushed to the highest level since 1986. The demand comes after investors turn to alternatives of the US dollar (USD).
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