Forex
– EURUSD is around the weekly resistance level around 1.1033, technically the pair tends to go back below 1.1000, is it a good time to buy more?
– USD/CAD made three weeks high, helped by recent strong oil prices. It may not hang long at that level, the market sentiment is bullish.
– EURJPY just reversed after hitting its 5-months highs at 148.40 . Technical traders are expecting the price to retreat and pass 150.00 because EUR data are favorable to a short-term uptrend.
US Indices
New York Stock Exchange indices lost some ground today with technology shares being the weakest (Nasdaq -1.98%) as inflation fears remain, Traders are bullish in general since some FED members are calling for 0.5 BPS rate hike in May. It might be a good opportunity to follow the crowd and start buying.
Commodities
Crude Oil opened at +0.78 today while Brent Oil followed with +0.65%. The lack of government subvention on OIL decreased expectations for crude oil demand in some countries, thus leading the oil price to levels below the one year low recorded a few days ago. The general market sentiment is 76% bullish.
Gold
Gold prices have been in ranges since the beginning of the month and hanging now around $2000. Daily support is set at $1981 so there is technically a possibly to sell and win some a few points until that support level.
Today’s economic calendar has Credit Suisse economic expectations at 11:00 am GF Markets trading time.
