Market Commentary
EUR seems to be consolidating after better than expected Euro zone 4th quarter economic data shows an expansion of 0.3% over Oct-Dec 14 making year on 0.9% growth vs last quarter 0.8% greatly helped by German acceleration in its economy. But with the Greek uncertainty there is plenty of turbulence ahead for the EUR as volatility increases with trader uncertainty. In an interesting article in Bloomberg today http://www.bloomberg.com/news/articles/2015-02-13/yes-yellen-can-have-it-all-as-she-gets-ready-to-raise-rates is is being pointed out that fed Chair Yellen may have more room to wiggle around as the perfect scenario of steady job markets growth, low bond yields, stability in the housing market and growing consumer confidence gives her the ability to ease interest rates up on the firm side. Crude oil once again is showing impressive confirmation that a strengthening US economy will translate into a continuation of optimism for the US shale industry. If the OPEC nose dive below $70 was supposed to enforce labor cuts and rig curbs then the optimism for the US economy has kept less efficient producers from going to the wall as oil producers refuse to dismantle and reduce output. With the EUR shaking its head over Greece and China poised to export from strength into strong US consumer demand, traders are running out of negative ideas to justify massive short positions anymore. A low inflationary global economic growth outlook for 2015 and 2016 will certainly keep the gold bulls at bay as reasons for a safe haven run out and Dollar and US bonds look increasingly attractive as investment vehicles.
US DX
94.157 -0.027 -0.03%
Support 93.783 Resistance 94.663
Euro
1.138150 -0.001615 -0.14%
Support 1.13443 Resistance 1.14723
Crude Oil
53.50 +1.34 +2.56%
Support 50.01 Resistance 54.81
Gold
1229.73 +3.47 +0.28%
Support 1219.1 Resistance 1231.1
Pieter Bergli - DeLoren Trust Holdings
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