For both the EUR and USD the sideways channel continues as neither side shows signs of yielding. The EUR drifting towards eventual Greek debt consensus. US jobless data was very positive as state unemployment benefits dropped by 21,000, and that was a figure twice as much as anticipated. This reinforces the growth prospectus of the US market as the labour market grows in strength. The market doesnt buy the dovish comments of the Fed and is upbeat on growth prospects. The EUR is quiet as Germany haggles and delays over a final decision on the bail out and the Greeks starting to accuse them of bweing too 'negative.' See Bloomberg http://www.bloomberg.com/news/articles/2015-02-19/germany-leaves-door-open-to-deal-based-on-greek-proposal
Crude oil shows no economic reason why spot and futures prices should go lower given the job cutbacks, drill withdrawals and strong economic growth factors in the US economy. Sopeculative ideas based on geopolitics also have had their play so we do not expect shorts to enter into the fray unless we see price drift higher towards 60 again this year. Gold is just drifting lower and lower on the basis of a complete dearth of bad news.
US DX
94.420 +0.025 +0.03%
Support 93.674 Resistance 94.944
EUR
1.136685 -0.005430 -0.48%
Support 1.12973 Resistance 1.14893
Crude Oil
51.96 +0.13 +0.25%
Support 47.83 Resistance 53.81
Gold
1206.875 -9.925 -0.82%
Support 1,194.2 Resistance 1,229.6
Pieter Bergli - DeLoren Trust Holdings
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