Market commentary: Euro is showing strength against the Dollar


Daily Market News

ActivTrades’ Market Analysts have provided their daily commentary on traditional markets for April 12, 2019. 


Forex

The Euro is showing strength against the Dollar, in early Friday trading. This is the result of a growing risk appetite in the markets, following encouraging figures related to the growth of Chinese exports which in turn supports the idea that a slowdown in global economic growth can, at least in the short term, be averted.

Ricardo Evangelista – Senior Analyst, ActivTrades

Gold

Gold is struggling after the data released yesterday showing US producer price recording their biggest rise in the last 5 months – mostly due to a gasoline price increase – while jobless claim declined to 1,713k. From a technical point of view, the sharp fall of the price of gold below $1,300 represent a signal of weakness, as this was a significant support level. Prices are now back in the range $1,280 – 1,300, with these two areas that are the first support and resistance for bullion.

The scenario is interesting also for silver, which is now playing on the support level of $14.9-15.0. For the grey metal the trend seems weaker than for gold, as we already tested yesterday the 3-month-low. If prices break down the level of $14.9, there could be space to target the next support at $14.7

Carlo Alberto De Casa – Chief Analyst, ActivTrades

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Market commentary: Euro is showing strength against the Dollar

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