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U.S. Equities March Higher as Investors Gain Confidence

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Feb 12, 2010.

  1. futuretrends24

    futuretrends24 New Member

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    Today’s sample of Futures Analysis from FuturesHound.com

    All three major stock indices finished the day sharply higher after earlier weakness driven by a possible pact between the EU and Greece and better than expected weekly jobs data.

    Thursday’s rally indicates that confidence may have been restored to the financial markets. This renewed confidence is tied to possible improvements in the global credit markets and signs that the U.S. jobs market may be confirming the developing recovery. Traders feel that an agreement between the EU and Greece will increase appetite for risk and bought in anticipation of the news. The March E-mini S&P 500 is on path to test a 50% level at 1084.50.

    The strong rally in April Gold market is a strong indication that the pact between the European Union and Greece is imminent, thereby driving up demand for risky assets. Speculators are anticipating that the agreement to shore up the debt in Greece will be released shortly. This release of this news should pressure the Dollar and underpin the gold market. Gold closed near a minor retracement level at $1095.10. A breakout through this level could trigger a further rally to $1105.60.

    Read full article at full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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