Market Commentary
Bounce on the EUR is evident today as forex traders tussle with the ongoing drama of the Greek bailout. Market bounces on positive news on ECB funding, see full report here on Bloomberg http://www.bloomberg.com/news/videos/2015-02-13/euro-inches-above-1-14-on-ecb-funding-reports . Germany France and Italy have now all been held to ransom to become large stakeholders in what is fast becoming a Euro zone hostage crisis over Greek debt and creditors become more anxious and skeptical of the debtor nation. If anything EUR volatility has shown a marked increase as the debt markets rage over the issue of the Greek creditworthiness. Position trader shorts are having to cover more frequently as pullback swings increase in the short term. US Dollar exhibits a quiet knowing strength in its refusal to nudge down, and this is because of the carefully engineered recovery of the US markets where US housing and labor and consumer purchases all show signs of quiet confidence and stability making the debt markets highly desirable viz a viz the Euro zone. Crude oil is now safely within an equilibrium where the shorts are covering and a trading range is establishing upon economic fundamentals of physical demand and supply 45 -55 range, and Gold trying to establish a bottom in the 1215 zone,
US DX
94.170 -0.014 -0.02%
Support 94.543 Resistance 95.503
Euro
1.140070 +0.008770 +0.78%
Support 1.12450 Resistance 1.1355
Crude Oil
51.05 -0.16 -0.32%
Support 46.29 Resistance 52.41
Gold
1221.905 +0.480 +0.04%
Support 1,202.7 Resistance 1,247.1
Pieter Bergli - DeLoren Trust Holdings
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