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A goooood Friday to you !
And boy do folks in US like to shop !
Most likely with compliments of the better than expected US Retail Sales, the currency pair has dipped below 1.4600.
Our favorite clue the S&P 500 remains moderate.
Oil in the meanwhile has dropped to $71+.
Gold is currently at $1110+.
Continuing our recent theme of USD strength, the better than expected Retail Sales apparently brought more attention to the USD. The fact that the S&P 500 remains relatively quiet while the commodities drop due to the increasing value of the USD suggest that the move may be due to increased confidence in the US Dollar.
Bullish forces may end this war for now at 1.4665 while bearish forces may aim for 1.4600.
Finally, my vacation is here! Stay tuned for more great koala articles coming your way.
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