Becoming Sophisticated About Risk

US Market Review


US Market Review

EUR/USD Closing 1.1259, High 1.1332, Low 1.1213; XAUUSD C: 1238.70, H: 1248.18, L: 1232.39; CO-LS C: 29.02, H: 29.66, L: 26.95, Dow C: 15913, H: 15924, L: 15592

The dollar extended gains against the other major currencies on Friday, as the release of upbeat U.S. retail sales data fuelled optimism over the strength of the economy, boosting demand for the greenback. U.S. stocks ended Friday’s session sharply higher, led by big gains in the financials and oil. Gold futures settled lower on Friday as equities regained a bid following a brutal week, but the precious commodity still scored its best weekly percentage advance since late 2008, sparked by a rush to haven assets. Oil futures enjoyed their best one-day rally on Friday. West Texas Intermediate crude jumped more than 12% as a major oil producer again raised the possibility of a coordinated cut in crude output. Today economics data are Prelim GDP q/q, Revised Industrial Production m/m & Tertiary Industry Activity m/m from Japan, Trade Balance from China, and Trade Balance & ECB President Draghi Speaks from Euro zone.

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