Forex Blog by Greg Secker

The DOW had a major gap higher at the open on Friday after the FED reduced the US discount rate from 6.25% to 5.75%, the DOW managed to hold on to its gain and closed up 233 points. The S&P added 34 points and the NASDAQ added 53 points. After trading lower for the morning part of the session the FTSE rallied on the news and closed the session up 205 points. Futures – DOW is called down 35 points, FTSE is called up 10 points. Oil is trading at $71.20 a barrel and gold at $656.