Despite positive US data, the US dollar was mixed compared with most major currencies. The euro is modestly higher against the dollar, a rise in European equities increased risk appetite. Germany, also released data that was better than the previous quarter. The British pound fell against the dollar with uncertainty remaining in the economy. Bank of England policy makers said this month that the recession is deeper than anticipated. The Japanese yen was higher against the dollar, a fall in Asian equities increased demand for the safe-haven currency. The Canadian dollar declined against the dollar as crude oil prices fell. The Australian and New Zealand dollar had little change against the dollar as a fall in Asian equities damped demand for higher-yielding assets.
This morning, Gold is at 949.40 USD, Copper 288.80 USX and Brent Crude 71.94 USD. Lead prices rose to an 11-month high Yesterday – notes Greg Secker – as more Chinese smelters shut due to an industry-wide clampdown by Beijing following incidents of lead poisoning.
Due for release today, according to Greg Secker, there are the USD MBA Mortgage Applications, USD Durables Ex Transportation, USD New Home Sales, NZD Balance and NZD Trade Balance.
