Durable Goods Orders To Move The Market

Durable Goods Orders To Move The Market

The euro (EUR) has maintained its advance against the US dollar (USD) staying above1.34 as markets expect a move away from the debt crisis in Europe despite the continuing uncertainty over Cyprus. Looking ahead, Durable goods orders and Home Sales from the US are set to shake the stage amid talks of a fragile recovery. If that happens WTI (OIL) should move higher as industrial production picks up.

The UK100 (FTS), which tracks the top 100 UK corporations, has been moving higher amid positive economic data touching a four and a half year high at 6250. The UK economy had moved into positive territory in the 3rd quarter of 2012.

WTI Crude (OIL), currently at 96.06, looks to break above its pennant formation as world economic growth pushes demand for energy higher.

The US dollar (USD) broke higher versus the Canadian dollar (CAD) moving above 1.0095 in early trading as the Canadian dollar moves to a 5-month low.