DOW hits the 10,000 mark for the first time this year!
US stocks rallied yesterday as DOW Jones Industrial average hit the 10,000 mark for the first time this year, after the Hi Tech giant Intel and JPMorgan Chase reported better than expected earnings. Currencies also gained against the US Dollar as a result, as the EURUSD crossed 1.4950 after FOMC. The Loonie also gained while its southern neighbor struggles, thus approaching parity.
Crude also rallied over 75 USD a barrel yesterday, on the back of dollar weakness. Many dealers are speculating that demand will increase as the economy is showing signs of recovery. The yellow metal, Gold, which although is highly unpredictable, still looks appealing to investors closing at 1067 in late New York Session.
Asian Stocks advanced earlier this morning sending most indices into the positive area.
Currency to watch out for: GBPUSD & USDCAD
- The GBPUSD pivot point is at 1.5975 with a preference to enter into long positions at 1.5990
- The USDCAD pivot point is at 1.0255 with a preference to enter into short positions at 1.018
Today's calendar and market movers:
- EZ Inflation is expected to decrease to 0.1%
- US Inflation final is expected to decrease to 0.2%
DOW Industrial average closed at 10015 points almost 1.5% up. Hang Seng was up 0.9% and Nikkei was up 1.77% this morning.