Currency Updates:
U.S. Dollar Trading (USD) was weak for most of the day before a sharp reversal in the US session saw the Greenback gaining across the board. Stock are remaining Buyout especially energy stocks as Oil trades above $91 a barrel. In US stocks, DJIA +20 points closing at 11575, S& P +1 points closing at 1258 and NASDAQ -4 points closing at 2661. Looking Ahead, Weekly Mortgage data released.
The Euro (EUR) The Euro had a volatile day rallying above 1.3200 in Asia before reversing sharply on news that the ECB had left some of its bond purchases unsterilized. EUR/GBP pulled back and so did EUR/CHF which moved below 1.2500. EUR/USD traded with a low of 1.3078 and a high of 1.3191 before closing at 1.3110. Looking ahead, M3 Money Growth forecast at 1.5% vs. 1.0% previously.
The Japanese Yen (JPY) USD/JPY fell sharply in Asia under Y82 before recovering in the US session but the crosses remained heavy with year lows for GBP/JPY under Y127. The Government has been giving more warnings in recent days as the major moves lower stating they will take action if necessary.Overall the USDJPY traded with a low of 81.80 and a high of 82.80 before closing the day around 82.40 inthe New York session.
The Sterling (GBP) gained against the Euro but was under pressure elsewhere with the major below 1.5400 and GBP/JPY moving to fresh year lows. Overall the GBP/USD traded with a low of 1.5343 and a high of 1.5514 before closing the day at 1.5360 in the New York session.
The Australian Dollar (AUD) broke above 1.0100 at the height of the USD weakness and avoided much of the USD strength in the US session. AUD/JPY is also outperforming holding above Y83 while traders support the high yielding commodity currency. Overall the AUD/USD traded with a low of 1.0053 and a high of 1.0154 before closing the US session at 1.0105.
Oil & Gold (XAU) broke out of its recent range to the topside above $1400 an ounce.Overall trading with a low of USD$1384 and high of USD $1407 before ending the New York session at USD$1405 an ounce. Oil&rsquo s bullish mood continued pushing back above $91 a barrel. WTI Oil Closed +$0.40 at $91.30 a barrel.
