Commodities continue to surge as investors fret that the dollar will be a poor store of value as the US prints money to try and lessen the economic downturn. Gold is up $20 on the day and eying resistance at $999. That is a trendline drawn off the March 2008 highs of 1030 and the February 2009 highs at 1006. It broke key resistance at $966 earlier today.
Oil is firming as well with the same negative US backdrop fueling the surge.
EUR/USD just took the baton, moving as high as 1.4150 on the most recent run. 0.8000 is AUD is a focal point; large barriers are spotted there…
