Forex Traders Looking for Strong U.S. Non-Farm Payrolls Number
British Pound Posts Strong Rally after Testing 50% Level
One day after U.S. stocks fell sharply amid mixed corporate earnings and as China raised interest rates for the first time since 2007, the major indices extended their broad-based rally Wednesday, buoyed by a positive outlook for the financial sector and a spattering of strong earnings reports from airline and commodity related companies.
Gold under Pressure as U.S. Dollar Mounts Strong Rally
Strong Overnight Dollar Rally indicates Risk Aversion is Back On
Stocks Extend Gains boosted by Strong Global Outlook
Dow Set to Open 100 Points Higher on Strong Global Risk Demand
U.S. equity markets surged to the upside, taking back most of Wednesday’s loss as signs of a global economic recovery helped drive up demand for higher risk assets.
Better than expected housing data and earnings reports also contributed to today’s rally, but the majority of the buying was done overnight by aggressive Asian and European buyers.