It is Friday again and the end of the trading week is here.
If you are green with profits, well done. If you are not, do not give up and remember to analyze what went wrong. Remember proper money management is a must.
Yesterday we saw good figures from the US. Trade Balance and Unemployment Claims clock in better than expected. On the other hand, the Euro Zone seems to be getting its feet into mud again as Greece continues to display uncertainty.
The EUR/USD continues to revolve it's action around the 1.27 region. The support of 1.2645 was tested earlier too.
S&P 500 remains above 1100 for now suggesting no imminent danger to the sentiments.
Oil creeps up towards $80 and is now trading at $76+.
Gold is now at $1240+, lower than the elevated highs. This suggests that while risk aversion is still present, it may be receding.
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The economic data for today was more of a mixed bag and hence the currency pair ranges in a narrow range too. The generally rising value of equities around the world is driving optimism towards a global economic recovery.
We all know the truth may differ at times from what is apparent. A report mentioned that economists in a survey believed that the US economy may not grow as much in 2011 as previously estimated due to continued unemployment problems. Unemployment affects consumer spending which in turn affects economic growth.
As always, i will like to comment again that the financial crisis is not a problem that can be fixed quickly.
Trade Safely.
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It is the weekend soon! What are you planning to do? For me, it is more chart staring and reports reading.. i like it :)
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