Today we'll make our market analysis based mainly on the market price behavior and what it is being influenced by. The two main issues here is simply the fundamentals that have sparked renewed confidence on the Euro rally that has been given a boost from the expected interest rate increase and the continuing deterioration of the USD. As the majority of influential factors have been from the rising oil prices steamed forward by major market players which obviously is due to the continuing battleground in Libya. Not to mention the erratic Gold prices marking its highs recently and a corrective move lower to make certain price adjustments every time market funds from major players shift its course every now so often.
These are the behind the scene scenarios that may or may not be reported on the front page of the financial news as far as institutional and hedge fund managers shifting and re-adjusting the position trades which would be played along before the end of this 1st quarter's trading. Now relatively with the USDX has reached its low levels at 76.10 basis point and has started to recover slightly back to the 76.50 which may not be as significant until any fresh incentives would be identified. Although, whatever news that may prove to be more friendly for the USD may still be overwhelmed with the current situation. However, we are waiting for a more surprising report that may be unexpected that may trigger a bit of a frantic rally for the USD. However, the transitional period we have been mentioning for the past couple of weeks has been extended, until when? is the 100k dollar question.
The technical perspective would be viewed on our website for further market analysis.
No comments:
Post a Comment