6th March 2015

Market Commentary

The EUR hasn't got a floor to stand on for the moment. The last 4 days the big specs sitting on the sidelines started probing and prodding the USDX in anticipation of a friendly move and it came today. The Friday news of more hiring last month sent bong prices slightly higher in early trading in the U.S. All in all the U.S. extended job gains in February by an increment of 295,000 jobs. That was the 12th straight monthly gain above the 200,000 figure. The U.S. unemployment rate has now fallen to 5.5 percent from 5.7 percent. From $1.40 early last year the EUR has smashed through the $1.10 support for the first time in 12 years. Soon enough EUR is going to be trading parity with the dollar. Read on Bloomberg - http://www.bloomberg.com/news/articles/2015-03-07/euro-drops-to-11-year-low-as-bond-buying-ecb-contrasts-with-fed?cmpid=yhoo  The U.S. is now a confirmed spurt the EUR is a confirmed sickly patient. The market may find some short-term consolidation around the September 2003 low of $1.0765 but that's scant resistance if any at all and a complete EUR capitulation is within sights a lot sooner that the anticipated year end Dollar parity.  In the wake of all the good news gold fell slightly over 30 points as crude oil stood it's ground since there's nothing new to really say about crude oil stockpiles.

US DX
97.717     +1.371 +1.76%
Support  95.791   Resistance 98.661


EUR
1.084900     -0.017495 -1.59%
Support   1.07300      Resistance   1.11180


Crude Oil
49.79     -0.97 -1.90%
Support    47.56      Resistance  52.24


Gold
1165.475     -33.620 -2.80%
Support   1,138.6    Resistance    1,212.8  
       

Pieter Bergli - DeLoren Trust Holdings

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