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US markets advance as ‘sequester’ looms

Shares in the US markets are trading in the positive territory on Thursday, although cautiousness amongst investors is set to prevail ahead of the so called US ‘sequester’, which kicks in tomorrow. The greenback, gauged by the US Dollar Index, is advancing firmly and heading towards the psychological resistance at 82.00
At the moment, DowJones is up 0.12%, followed by the S&P500 and the Nasdaq, gaining 0.29% and 0.32%.

Markets in Europe closed with gains, following the initial risk appetite after Chief Bernanke and ECB’s Draghi confirmed the continuation of the accommodative monetary policies in both the US and the euro zone. The IBEX35 led the gains, up 1.15% on the day, followed by the DAX, 0.86% and the CAC40, 0.85%.
The single currency is now trading in a softer tone below 1.3100 after hitting session highs above 1.3150 overnight. While risk aversion continues to prevail in the markets, investors are shifting their attention to the US ‘sequester’.

Commodities are both trading in red, with the barrel of WTI losing 0.10% at $92.68 and the ounce troy of the precious metal following suit, down 1.010% at $1578

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Forex: USD/JPY picks up momentum, nears 93.00

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