OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: Dow makes new high - Societe Generale

Kit Juckes of Societe Generale notes that the Dow made a new high, the day before the fourth anniversary of the S&P hitting 666, and all talk overnight has been of the recent equity rally.

he notes that the dollar has fallen less on the back of positive risk sentiment than might have been expected, but USD/JPY and EUR/USD are firmly in their ranges. He writes, “Today’s economic calendar is fairly light, with the ADP survey and Beige Book due in the US. 5yr supply Germany, and rate-setting meeting Canada (exp no change) make up the rest of the day’s thrills. Good ADP data are probably the catalyst for the risk rally to continue for another day.”

Forex: USD/CAD retraces gains after ADP, BoC eyed

The loonie benefited from strong US employment data and strengthened versus the dollar ahead of the BoC monetary policy decision.
Read more Previous

Commodities Brief – Precious metals trade sideways after upbeat US data, crude oil surrenders earlier gains but holds above 90.00

Gold has experienced an uneven string of trading sessions Wednesday, as investors grappled increased demand from Asia and the publication of upbeat US ADP Employment data. The yellow metal has refused to budge from its narrow consolidation thus far, held just below the 1579.00 level (intraday maximum). Technically speaking, gold is trading at its 200-day SMA, awaiting further signals to move in either direction. At the time of writing, the spot price of gold is hovering at USD $1576.95 per oz. at the onset of the US open.
Read more Next
Start livechat