EUR/USD has squeezing out the weakest shorts with its move back above the former support level at 1.4827 and now it will try and squeeze out more of them if it can move back above the 1.4845/50 level.
Oil is now up $1 on the day, almost $2 above session lows, trading now at 79.60. Gold is back toward the $1040 level in the spot market. The Dow continues to garner support from IBM’s announced $5 bl buyback. EUR/USD trades now at 1.4835.
