An Important Day of the Week for the Global Markets

[kreslik.news]

This article was written by Ashwin Peswani, Regional Director of MTrading. 

Following its pullback moves on Monday, the US Dollar Index (I.USDX) managed to rejuvenate upside momentum on Tuesday when Existing Home Sales unexpectedly rallied to its highest since 2007.

The same optimism helped the greenback to maintain its strength against the majority of its counterparts, except the AUD which gained after commodity prices advanced on expectations of increasing future demand.

The EUR got another dent with ECB officials favoring a loose monetary policy while the GBP couldn’t sustain its gains from the previous day ahead of today’s budget release.

Further, ... (read more)