In spite of Amazon weighing in on #NASDAQ tech stocks at the start of the US morning session all three major equity indexes managed to recover from their lows with the #DOW marking a record high at 21808.47 and into positive territory as of this writing.
With US GDP coming into play with a figure well within expectations have managed to calm market sellers which have bought back from the decline that led back to stage this current rally. Not only did US Oil registering near the $50.00 / bbl, the USD - DXY likewise gained back some lost ground after a heavy decline below the 93.20 level briefly nearing a psychological support price.
With US GDP coming into play with a figure well within expectations have managed to calm market sellers which have bought back from the decline that led back to stage this current rally. Not only did US Oil registering near the $50.00 / bbl, the USD - DXY likewise gained back some lost ground after a heavy decline below the 93.20 level briefly nearing a psychological support price.
With that said, the market's reaction towards the closing hour have trimmed their losses in equities, while in the currency market, the #EURO back at 1.1745, #CABLE at 1.3135 and the #AUSSIE have managed to hold at 0.7982 after briefly coming from a high at 0.8065. This is where Goldman Sachs have called an initial top for the Aussie.
Meanwhile, the #USDJPY managed to slip back towards 110.80 and the #AUDCHF cross have had an excellent take off from the Aussie's strength with a little help from a slight USD recovery that propelled a straight shot at the top currently at 0.7743 to this writing. Indeed this is what we call a real market combination of Equities & Currency Trading!
At the rate the Dow Jones is moving marking a newer high at 21824.88, this is already part of the extension anticipated where session pullback nearing the 21850 +/- target levels would be expected to occur. Although, other players would probably take this corrective move to swing back for the next leg higher by the coming week.
ReplyDeleteOn CCY: EURO now on a roll as 1.1800 has been breach with CABLE trailing at 1.3193 and the ERUGBP Cross at 0.8952, inching its way back towards the 0.9000 where it recently came from.
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