Market Commentary
Tough talking German Chancellor Angela Merkel pointed out that the Euro currency was at a crossroads as she called on members of the currency
union to settle on a common path to become competitive with the
rest of the world.
However traders don't buy this. Many bank analysts all agree that interest rate differentials are at play and Barclay's bank pointed out Dollar parity by the end of the year. Whilst the USA and UK have stabilized their economies with successful QE programs after the credit collapse of 2008, the ECB has been struggling to adopt a common debt policy as nations like Greece threaten to drag the EUR area down in a spiral of debt. With the ECB now only making a play for QE the interest rate curves and affect of respective currencies will ensure the EUR must weaken more, and Gold and Oil strengthen as the US GDP grows.
US DX
94.509 -0.051 -0.07%
Support 94.331 Resistance 95.301
EUR
1.133955 +0.002935 +0.26%
Support 1.12667 Resistance 1.14087
Crude Oil
49.86 +0.29 +0.61%
Support 45.04 Resistance 52.82
Gold
1274.74 -5.63 -0.44%
Support 1,258.4 Resistance 1,293.2
Pieter Bergli - DeLoren Trust Holdings
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