Market Commentary
The currency market is all on Q.E watch waiting for Mario Draghi to spell out these exact details of the Euro bond buy back program to provide a stimulus to the Euro banking sector. The quantitative-easing program is expected to exceed 1 trillion euros. The ECB’s Executive Board proposed a target spending plan of 50 billion Euros a
month to buy back Euro member state sovereign debt through to the end of 2016 which is about 1.1 trillion Euros..This follows the successful introduction of Q.E in USA and UK since 2008 but many traders are skeptical that this program will work hence the pressure on the Euro currency.
US Dollar
92.986 +0.274 +0.35%
Support at 91.977 with resistance at 93.907
EUR/USD
1.158865 -0.001240 -0.11%
Support at 1.14730 and resistance at 1.17450
Crude Oil
47.53 -0.25 -0.53%
Support at 45.86 and resistance at 49.16
Gold
1287.465 -5.155 -0.40%
Support at 1,272.7 and resistance at 1,317.5
Pieter Bergli - DeLoren Trust Holdings
Forex market education
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