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Good day koalas!
Weekend is upon us soon and yes it is the CASH THE PIPS FOR BEER MONEY day!
The US Non Farm Payroll was slightly better than expected. The EUR/USD received bullish relief due probably to risk taking.
The S&P 500 continues to be bullish and it is nearly back at the level before the current correction.
Oil is hovering around $80. Should we cross and maintain over $80, we may be seeing a new phrase of the recovery as oil can be a clue to the global economy’s health.
Gold is trading at around $1138+.
While there are reports stating that the EU is in the midst of planning for a Greek assistance plan, strikes continue in Greece and threatens to hamper and derail the Greek government’s effort to lessen the deficit. Traders do not like sovereign problems and hence the EURO’s value suffers as a result.
On the other hand, the US appears to be the lesser of two evils for now and the S&P 500 is a testament to that. Sentiments are good and the US equities are raising. Today’s Non Farm Payroll came in better than expected, raising hopes that the job market is getting better. Do remember though that the US is also facing her own problems. A massive budget deficit and fragile housing market are among the top areas of concern.
As the week comes to a close, bullish pressure may bring us to 1.3680.
A bearish push may see us testing 1.3550.
Stay tuned for the EUR/USD Weekly Review over the weekend.
So did you finish your week green? I sure hope you did. Time to enjoy a well deserved weekend
Read more Forex Articles and Views by The Koala at www.thegeekknows.com