Monday, 27 April 2015

1pm update - weaker USD helping the relics

Whilst US equities have cooled a little from earlier highs, there is notable strength in the precious metals. With the USD -0.4% in the DXY 96.50s, the metals are seeing some natural upward pressure, Gold +$27, with Silver +4.5%. Oil remains u/c though... but holding within a broader upward trend.

GLD, daily



Little to add.

I'm beyond tired of seeing borderline hysteria on any down swing of 0.5%.. its frankly lame.

We're now at the stage where if the market is not breaking a new historic high every few hours, the top callers have the guile to crawl out of the trenches.

Incredible denial... and no doubt, it will only get worse.

notable weakness: Dow stocks:  MCD -1.7%.  HD -1.3%