Markets traded within a limited range so far on Monday as European markets are closed, while data from the United States was limited to the new home sales index, nevertheless, the U.S. dollar fell against major currencies to open the way for gold and oil to set new record highs, as investors continue to speculate ahead of the FOMC decision on Wednesday.
The new home sales index was released from the United States for the month of March, where new home sales increased by 11.1% to an annual rate of 300,000 units, compared with the prior revised estimate of 270,000 units.
Stocks in the United States were mixed on Monday during the early hours and ahead of earnings that will be released later today and tomorrow, where the Dow Jones Industrial Average was down by nearly 0.20% to trade around 12,475, while the S&P 500 index was also down by 0.15% to trade around 1335. European stock indexes were closed today due to Easter holiday.
The U.S. dollar declined against most major currencies, which sent investors to safe havens and dollar denominated assets, as gold prices continued to rise amid the dollar’s weakness to reach a new all-time record high at $1518.30 an ounce before falling back, while crude oil prices also rose earlier to the highest level in almost three years at $113.55 before dropping to trade around $111.80 a barrel.
Originally posted here
Read more about forex technical analysis, forex fundamental analysis and forex news on ForexMansion.com
About ForexMansion.com:
www.ForexMansion.com is a part of the Finance Mansion Network which operates global financial websites. Our goal is to provide our readers with the most accurate, quality and up-to-date technical analysis, fundamental analysis and news in order to assist them in making the right financial decisions.
The Finance Mansion Network includes www.FinanceMansion.com,www.ForexMansion.com, www.StocksMansion.com, www.CommoditiesMansion and many more.
