Investors Keeping Their Eyes on the Strong Euro

The Federal Reserve kept its interest rate policy intact on Wednesday and its rather dovish statement has caused the U.S Dollar to be sold in forex against the major currencies. Wall Street put in slight gains yesterday. Today the Core Durable Goods Orders will come from the U.S via data.

Fed Sets No Firm Timetable, U.S. Dollar Weaker in Forex

The U.S Dollar was immediately made weaker in forex yesterday upon the Federal Reserve’s monetary policy statement. The Fed essentially gave no firm timeline for its next interest rate hike. While maintaining that it wants to increase borrowing rates again, the U.S central bank said inflation targets are not being met. Core Durable Goods Orders and weekly jobs numbers will come from the States today. Tomorrow important Gross Domestic Product statistics will be published. The three major Indexes on Wall Street gained yesterday, but their gains appeared tentative and global investors will watch their American counterparts carefully in the coming days.

Yen Testing Important Support, Yen Gives Back Value to U.S. Dollar Early

The Nikkei and Topix Indexes have put in incremental advance today. The Hang Seng has done well and continues to show plenty of risk appetite on the Hong Kong composite, having attained over 5% gains the past month. The Yen has been stronger against the U.S Dollar and is testing important support. Important Core Consumer Price Index readings will come from Japan tomorrow, and the inflation numbers could spur on volatility early Friday in Asia.

Euro Climbs Again vs. U.S. Dollar, German Data Shows Improvement

The German Consumer Climate reading printed early this morning came in better than expected, which continues to show the European economy is achieving better economic results. The Euro has attained new highs against the U.S Dollar and is near important resistance as it trades above the 1.17 level. The Pound has also achieved solid gains against the U.S Dollar. French Gross Domestic Product numbers will be released early tomorrow.

Gold Moves Highs, Stays Speculative, Fed Fuels Buying in Precious Metal

Gold is proving to be a fast market. The precious metal is traversing near 1260.00 U.S Dollars an ounce and speculation remains strong. Gold will see more volatility today and tomorrow, as traders position themselves per their beliefs regarding the Federal Reserve’s intentions with interest rates.

Yaron Mazor is a senior analyst at SuperTraderTV.

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