In the last week the US30 index has consolidated a little around 28500 after easing from all time highs in the last few days. The last few weeks have seen the index move strongly higher to all time highs again after moving through the key 28000 level.
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In the last few days the EURUSD has eased back below the key 1.12 level back into its popular range between 1.11 and 1.12. It had moved strongly to close out last year and into the new year moving to a five month high near 1.1250, before easing. Since the beginning of December, the EURUSD has steadily rallied higher pushing through another current key level of 1.11 which had been providing stiff resistance for several weeks.
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As much as things change, they also stay the same. 12 months ago the dominant issues in global financial markets were the trade war between China and the United States, what the United States Federal Reserve was going to do next after having lifted interest rates, and whether a Brexit deal could be done before the departure date of 29th March 2019.
Fast forward 12 months later, and we are still observing the trade war, we are closely monitoring the U.S. Federal Reserve and Brexit remains unresolved.
Read MoreToday at 7:00pm UK time. Fed Interest Rate Decision is made on a predetermined date during the vote among the members of the Federal Open Market Committee (FOMC) on the short-term interest rates to be charged from credits and commercial bank loans. F: 1.75%, P: 1.75%
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In the last week the US30 index has rallied well back above 28000 before easing in the last two days. It had fallen sharply away from all time highs above 28000 and was possibly eyeing off support at 27000 given the rate it was falling, however it has now settled just below 28000. After trading around the key 27000 level for several weeks, the last few weeks have seen the US30 index surge higher to new all time highs above 28000, before dropping sharply and returning a lot of the gains and then rallying higher.
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After trading around the key 27000 level for several weeks, the last few weeks have seen the US30 index surge higher to new all time highs above 28000, before easing in the last week and rallying again. It is currently trading around the previous peak so it may just be experiencing some selling pressure at this level. Throughout October it rallied well and moved back above the current key level of 27000 after the index was ably supported by the 26000 level which propped up the index earlier.
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In the last week or so gold has slowly edged higher back around $1470 after dropping sharply back through the key $1500 level to a three month low below $1450. For the last two months gold has settled around the current key $1500 level, moving back and forth around this level, seemingly content to not move anywhere else, so the recent move lower could be significant. In the first week of September gold fell sharply from its multi year highs above $1550 down back below the $1500 level however it has been well supported and it has kept its head about this key level, or thereabouts up until three weeks ago.
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After trading around the key 27000 level for several weeks, the last few weeks have seen the US30 index surge higher to new all time highs above 28000, before easing in the last day. Throughout October it rallied well and moved back above the current key level of 27000 after the index was ably supported by the 26000 level which propped up the index earlier. It was again the 26000 level which allowed the index to move well to a one month high above 27000 mid-September.
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In the last two months gold has settled around the current key $1500 level, moving back and forth around this level, seemingly content to not move anywhere else. In the first week of September gold fell sharply from its multi year highs above $1550 down back below the $1500 level however it has been well supported and it has kept its head about this key level, or thereabouts.
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