Good News for the Greenback Finally Pushes Gold Down a Few Pegs

By GoLearn Forex 

Gold tumbled on Friday as better than expected Unemployment and Nonfarm Payroll figures helped prop up the Greenback.  Gold 

fell 5.1% during intra-day trading to a session low of 1,150.  Crude Oil was mixed on Friday as it originally bounced higher

 on the positive news, however, it gave up its gains and then some as the Dollar firmed throughout the day. Both Gold and Oil

 are quoted in Dollars ,so as the Dollar strengthens it sends commodity prices lower. 

 

 

Global Equity Markets advanced Friday finishing the week in positive territory.  The DJIA added 22.75 points to close at

 10,388.90. At the moment Equity Futures are pointing lower ahead of the open.  Economic data releases will be on the lighter

 side for Monday although the remainder of the week will yield some interesting price action as Canada, New Zealand, 

Switzerland, and the U.K  are on deck for rate decisions. 

 

 

The DXY soared to highs not seen since early November as the DXY touched 75.911 during the  Friday session.  Traders were 

unwinding some bets and covering shorts as the positive employment data gave rise to concerns that the U.S Federal Reserve 

may raise rates sooner then later.  With little economic data due out today do not expect much price action.

 

 

 

EUR ECB President Trichet Speaks 

CAD Building Permits (MoM) Forecast  1.00%    Previous  1.60% 

USD Fed Chairman Bernanke Speaks 

AUD Current Account Forecast      -17.00B    Previous  -13.30B