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S&P pointing to record high, dollar tumbles

FXstreet.com (Barcelona) - US markets are extending the rally on Thursday, pushing the S&P500 closer to the highest intraday level of 1,576 pts (October 11th 2011) after investors shrugged off poor US releases and jitters from Cyprus eased. The greenback, tracked by the US Dollar Index, is losing ground against its rivals albeit keeping the trade above the 83.00 figure, as market participants are cashing up recent gains. DowJones is up 0.28%, seconded by the S&P500 and the Nasdaq, up 0.30% and 0.20%, respectively.

Bourses in Euroland closed another month with profits, extending the rally to ten month in a row. Mixed German data plus a positive reaction in Cyprus after the banks re-opening have fuelled today’s upside. The CAC40 led the gains, advancing 0.53%, followed by the FTSE100, 0.38% and the IBEX35, 0.25%.
The single currency is consolidating gains above the key mark of 1.2800 after dipping to session lows around 1.2760, as the situation in Cyprus eclipsed the grim prospects stemming from the political scenario in Italy.

In the commodities space, the barrel of WTI continues its march north, gaining 0.46% at $97.03 while the ounce troy of gold is retreating 0.69% at $1,596

Forex Flash: BoE to hold policy rates unchanged at 0.5% in 2013/14 - UBS

The BoE is expected to hold its monthly meeting next Thursday April 4th at 11 GMT. Market expects the bank to remain unchanged in its interest rate at 0.5% and the size of the Asset Purchase Facility at £375B. So UBS, but the bank also expects the BoE to remain unchanged the whole 2013 and in 2014.
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Forex: US Dollar Index supported at 83.00

The greenback, gauged by the US Dollar Index, is markedly lower on Thursday, as risk appetite has been dominating the session and accentuating its momentum after the Cypriot banks re-opened their doors without...
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