Currencies
EUR/USD – during the day we saw a clear break of the resistance around the 1.12 level, but we were unable to sustain these gains and close just under this resistance level. As the USD strengthened on the backdrop of some good employment related data yesterday, even though housing data was weak. We have important manufacturing data out of the Eurozone today which we will be looking at.
USD/JPY – has corrected a large of part of the drop after the BOJ and FED decisions and is now trading just below the resistance around the 101.26 level.
GBP/USD – also here a reversal has been taking place as the USD was able to regain some of its losses and strengthened as the day went by. Today we will likely test the 1.30 level again.
USD/CAD – extended its drop as oil continued to rise but as happens across the board, we can see the USD strengthening. We have important data out of Canada today, so we can expect some further moves.
Indices
DAX 30 – has been moving up and is now trading in close proximity of the long-term downwards trend line which has acted as a resistance level for quite a few times.
S&P 500 – continued to move up as the energy sector was supporting the upwards move, but as we can see is being held back for now by the resistance around the 2167 level.
Commodities
Gold – is trading currently slightly above the resistance/support around the 1332 level, which is unlikely to hold if we see the USD strengthen further.
Oil – rose further but is currently trading around the resistance as there has been some profit taking after the sharp rise in the last 3 days (well over $2) ahead of the informal OPEC meeting. Even though we have heard quite a lot that an agreement could be reached, there remains more than a fair amount of skepticism on not only the chances of that happening but also the usefulness and impact of such a move at the current production levels.
Stocks
Yahoo (NASDAQ:YHOO) – has reported that at least 500 million of its user accounts have been hacked and personal information stolen. This once again highlights the possible dangers of having information online and the need for companies dealing with personal information to up their internet security to safeguard those details.