US stocks climbed and reached new levels once again. Markets were boosted by data and political events.
Asian markets turned lower today. The Nikkei first gained as the Dollar rallied to a 7 year high against the Yen, reaching a high of ¥115.5
European markets are mixed today as traders turned hesitant ahead of the ECB interest rate decision and press conference. Analysts do not expect any changes to be introduced.
Oil stopped declining. The EIA reported that oil only increased by 460,000 barrels, much lower than the expected growth of 1,900,000 barrels. Sentiment was also higher due to midterm elections, positive data and better than expected corporate earnings.
Gold is trading around a 4 year low around $1,144.7. The metal broke through its support level yesterday as the Dollar soared. Analysts believe that the price could now drop to $1000/ounce as the safe haven appeal has worn off as the economic outlook for the U.S continues to improve. The price could now begin to range ahead of tomorrow’s Nonfarm Payroll report.
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