Market Commentary -
US DX
92.180 +0.091 +0.12%
The US DX inching up further towards a key resistance at
93.095. Support now seen at 91.425. Fixed income products demand remains insatiable and the appetite for Dollar investments grows with the continued benign outlook for a low inflationary economic growth for USA 2015 as a result of the sharp plunge in oil prices.
EUR/ USD
1.17742 +0.00004 0.00%
EUR continuing its slide towards the 1.1600. Support at 1.16700 and key resistance at 1.19100. Any momentum above the 1.1871is needed soon to stop the belief of a general descent. Key supports are at 1.1640(15/11/2005 low) and 1.0765 (03/09/2003 low).
Crude Oil
48.54 -0.42 -0.90%
The
CL support at 43.57 and resistance at 51.37. Many analysts question the sustainability of the recent modest rally. Citi Futures strategist Timothy Evans noted: “Without some significant bullish
fundamental surprise like a change in OPEC policy, we think the market
will have difficulty making a sustained price recovery, and Wednesday’s
advance was really quite minor in terms of the larger context."
Gold
1228.415 -1.135 -0.09%
Gold support at 1,215.0 resistance at 1,254.4. The rally is fading fast. There are no real fundamental reasons for the push to continue and we expect the market to slide back to support at 1181 (28/06/2013 low). However, with the low prices in oil and anticipated spur to global economic growth, gold demand is expected to rise after the mid year 2015.
Pieter Bergli - DeLoren Trust Holdings
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