USD Dollar (USD) – The Dollar traded mixed versus most of the major currencies on a low volatility trading session. Positive macro data came out in the U.S as the Personal Spending came out at 0.7%, better than the expected 0.5%, and the Pending Home Sales came out at 2.1%, better than the expected 0.3%. The stock markets in the U.S. closed negative as the Dow Jones declined by -0.19% and the NASDAQ lost -0.45%. Crude Oil finally broke down after long term fluctuation, losing -1.4% and closing at $103.80 a barrel. Gold (XAU) declined by -0.4%, closing at $1420 an ounce. Today, the CB Consumer Confidence is expected at 65 vs. 70.4 previously.
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News from TradeTheTrend's video channel about Google Hires Former Java Creator Amid Court Battle With Oracle.
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More immediately, as the country teeters on the brink of a recession, other countries show that they really care about the transition to democracy in Egypt by financing a fund to invest in physical and social infrastructure - including energy, transport , housing and education. Over the two months since the Egyptian revolution began, nothing concrete has come - despite much talk. Western countries want to help but are strapped for cash. There is an understandable desire to help refer to the achievement of milestones on the road to democracy.
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Despite a positive lead from Wall Street where stocks posted solid gains on Friday on the back of some encouraging economic data, the Asian stock markets mostly subdued on Monday with investors pedal gently amid persistent concerns about the unrest in the Middle East and effects of nuclear radiation in Japan. Mining, information technology, industrial stocks and property trusts are trading weak in the Australian market. Energy, it was financial and medical supplies to find modest support. Read more »