US equities broke above their 200-day moving average at the opening of trading and have not looked back, extending gainst to 2.8% and putting more than 15 S&P points between prices and the 200-day average at 929. A close at these levels will likely draw more money in from the sidelines in the days ahead.
Today’s economic data from the US combined with upbeat PMIs from European and China are helping raise hopes that the global economy will emerge from recession this year.
EUR/USD is consolidating gains after a dip to the 1.4150s. It trades now at 1.4190. GBP/USD trades at 1.6455, eying barriers at the 1.6500 level.
