Tuesday, May 24, 2011

EUR/USD 1,4105

Market's mood has flipped to risk-off again at mid American session, with commodities and stocks reversing earlier gains while currencies linked to commodities are retreating from session's highs against the Greenback.

The bounce of AUD/USD was capped by the 1.0580 resistance area during the NY session forcing the cross to pullback toward the 1.0530 zone where the fall was contained. At time of writing, AUD/USD hovers around 1.0540/50, 0.40% above its opening price while gold has retreated from $1527 an ounce to trade barely above $1520/oz.

The Loonie is also losing ground against the Greenback as oil erases previous gains. Crude for July has fallen to $98.50 a barrel after peaking at $100. USD/CAD has moved in sync to the upside, halting at the 0.9790 area where it is little changed since opening.

NZD/USD has backed away from 0.8014 where it set a fresh 3-week high and currently is trading around 0.7960.

source: fxstreet.com


  1. well even though it is not much of a movement, the gold prices and their fluctuations must've made a lot of people nervous today.

  2. Interesting. I just got back from the european union.

  3. oil is expensive but tasty