Crude Oil 81.35 | +0.16 +0.20 |
| Gold 1060.60 | -0.48 -0.05% |
| CRB Index 282.54 | 0.00 0.00% |
| US Dollar 75.279 | +0.185 +0.24% |
So oil is still sitting above $80. With this rise one is looking for a rise in the CAD and GBP. However, gold is down slightly which will back the CAD back down and slow the rise of the AUD. As of 0600 MST, the USD is up.
Only a couple of dings for the USD today. So until 0800 MST does one stay away from the USD.
| 6:30am | USD | Fed Chairman Bernanke Speaks |  | |||||
| 8:00am | USD | Existing Home Sales |  | 5.37M | 5.10M |
I am keeping a close eye on the GBPUSD as the British economy shrank for a record 6th straight quarter. If you look at the GBPUSD daily chart, one can see that the channel to the downside created over the last three months may be re-entered. If this is so, expect more downside as the USD is expected to climb this week as there is an expected 3.1% growth in the US GDP.
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