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U.S. equity markets as well as December Crude Oil and December Gold are trading lower this morning, after the government reported a 3.3% rise in September Durable Goods orders.

Crude oil prices and increased appetite for risk are helping to support the Canadian Dollar overnight. It looks as if it could be a “risk on” day today which will be beneficial to all the higher yielding currencies.

The Dollar is trading weaker across the board except the Japanese Yen. Investors are feeling more confident about the global economic recovery and shedding safer currencies. Commodity-linked currencies are trading higher let by the Australian Dollar as traders buy ahead of tomorrow’s CPI report.

Stocks and commodities are set to surge today after China loosened its reins on the Yuan over the week-end. Although the timing of the move by China to allow its currency to appreciate against the Dollar came as a surprise, the action followed months of serious negotiations between the U.S. Treasury and the Chinese government.

The Euro continues to post strong gains this morning after breaking through a minor retracement zone at 1.2164 to 1.2233 overnight. The main trend is down until 1.2453 is penetrated, but the daily chart indicates there is plenty of room to the upside.

U.S. equity markets are trading better overnight. The shift from concerns about the Euro Zone back to the recovery in the U.S. economy is helping to drive up demand for U.S. stocks.

The June E-mini S&P 500 followed through to the upside Tuesday night confirming the daily closing price reversal bottom formed earlier in the day. Based on the current short-term formation, traders should watch for a 2 to 3 day retracement with 1105.75 to 1122.00 the next possible upside target.

The U.S. Dollar is trading lower against most major Forex markets ahead of today’s Consumer Price Index, Retail Sales and Business Inventories Reports. In addition, investors are awaiting the testimony of Fed Chairman Bernanke.

June Gold is trading higher overnight because of increased demand for higher yielding assets and the weaker U.S. Dollar. Bullish traders seemed to be unfazed by the optimistic developments over the Greece debt situation. Earlier in the week gold bugs were buying the metal on speculation of a possible default by Greece.

Stocks rise on consumer hopes

Posted by cuteeleslie on April 9th, 2010

Stocks gained Thursday as upbeat sales reports from the nation's retailers helped provide optimism about the economic outlook, taking the edge off worries about Greece and other euro zone debt issues.

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