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Another positive U.S. Existing Home Sales release is appeasing investors after Friday's retracement below 1100. In addition to the positive Existing Home Sales number, investors are reacting favorable to another wave of encouraging EU Flash PMI data points. Furthermore, Fed members continue to support the anticipation that the central bank is not likely to raise rate until well into 2010. Such a loose monetary policy is favorable for corporate performance due to the abundance of cheap cash. As a result, investors are shrugging off last week's wave of sluggish econ data, and are opting to focus on a weakening Dollar along with another surge in gold.
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