Market Commentary
US DX showing remarkable resilience but overwhelmingly long term support is due to yield differentials in the bonds markets between US, EU and Japan. You cannot get a better yield in terms of quality. Crude oil interest waning again as fundamentals of oversupply and clogged up sea channels come to bar down upon the longs. Give the Euro zone stability consolidating there's not much point either of flight to safety as gold slips yet again.
In a recent article just released in Reuters now Fed Chair Yellen http://www.reuters.com/article/2015/02/24/us-usa-fed-idUSKBN0LS0BD20150224 releases another candid remark to the US Senate Banking Committee that the Fed is considering rate hikes, which underscores the real strength of the US economy in spite of last week's blip. Within context of a sagging Euro land feeling it will now only take a few more releases of positive information on the US economy for the large currency specs to begin contemplating the next push for the US DX thru the 100 mark.
US DX
94.369 -0.107 -0.14%
Support 94.140 Resistance 95.280
EUR
1.134505 +0.001880 +0.17%
Support 1.12590 Resistance 1.14010
Crude Oil
49.28 0.00 0.00%
Support 47.78 Resistance 51.08
Gold
1210.110 +8.110 +0.67%
Support 1,182.8 Resistance 1,211.6
Pieter Bergli - DeLoren Trust Holdings
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