Filed Under:
Forex pairs in this Article » EUR/USD
FXstreet.com (Edinburgh) - DowJones is on track to recover the 16,000 handle, as upbeat sentiment from US data and positive corporate earnings is lifting the main US indices.

The Nasdaq is rallying 2% after earnings report from Facebook (FB) surpassed investors’ expectations. Same path is following Google Inc. (GOOG) after it announced it will sell the Motorola unit. The solid reading from the US Annualized GDP during the fourth quarter of 2013 (3.2%) is also helping indices to recover the ground lost in recent past sessions. At the moment, the Dow is up 0.80%, followed by the S&P500, 1.23%. The greenback, gauged by the DXY, is extending its march north, consolidating beyond the 81.00 mark.

The FTSE100 was the only exception after a ‘green’ close in Europe, receding 0.09%. In the meantime, US GDP figures helped investors shrug off the poor results from the Chinese PMI released overnight, lifting the indices to positive ground. The IBEX35 advanced 0.69%, closing in the brink of the 10,000 pts while the CAC40 gained 0.55% and the DAX 0.39%. The single currency dropped over one big-figure, taking the EUR/USD to find some support in the lower band of the weekly range near 1.3550.

The stronger greenback is taking a toll on the precious metal, where the ounce troy is retreating 1.49% at $1,243. On the flip side, the barrel of WTI is advancing over 1% and hovering over $98.40.
comments powered by Disqus