Markets in general and currency markets in specific witness big heading towards high yielding assets as a result of boosted confidence within investors. The confidence boost came from Europe as the Polish and Portuguese governmental bonds witnessed strong demand.
The U.S economy's economic calendar remains weak as yesterday it was empty and today holds the release of the Beige Book and Consumer Confidence. The United Kingdom was one of the economies revealing a lot of data and figures throughout the day, it released comforting data that has backed up its Sterling Pound. The Imperial Yen witnessed huge strength versus the US Dollar as the pair reached a 15 year low!
The Dollar index which measures the USD's performance versus six major currencies fell from today's opening level of 82.81 to currently trade at 82.44 recording its highest level at 82.92 and its lowest at 82.38. Gold prices climbed reaching $1255.85 per ounce from the opening price of $1255.75. Oil surged after opening at $73.80 reaching $75.14.
The Euro/Dollar pair climbed up to this moment to trade above the opening level of $1.2682 at $1.2750 recording an intraday high at $1.2762 and a low at $1.2657, the pair succeeded in breaking the $1.2730 resistance level and heading towards next resistance level at $1.2775.
The "Royal Pair" Sterling/Dollar climbed to trade above the opening level of $1.5355 at $1.5496 recording a high at $1.5532 and a low at $1.5341. By this the pair broke the $1.5435 resistance levels turning it to support climbing to the next resistance level at $1.5555.
Finally the Dollar/Yen pair fell during today's to trade below the opening level of ¥83.83 at ¥83.83 recording a high at ¥84.03 and a low at ¥83.32. The pair resistance remains at ¥84.05 and support levels remain on ¥83.30.