The USD lost ground overnight as worldwide equity markets rose on speculation that this morning’s earning from Goldman Sachs will be positive. This may suggest to the marketplace that the worst of the global financial crisis may be behind us.
Crude oil rose to over $61/ bar, and Gold bounced up to the $924/oz range.
The jump in commodity prices helped the raw material producers post gains.
US Futures are also pointing to a higher opening this morning.
Oil:$61.23 Gold:$924.40
Today’s Data:
PPI: exp:.9% prior: .2%
Retail sales: exp:.4% prior: .5%
Bus Inv: exp; -1.0% prior: -1.1%
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