Crude Extends Gains as US Data Beats Forecasts. ECB Raises Growth Projections
BonTradeMore pleasant surprises from the US lifted sentiment. Despite thin trading ahead of the employment report, DJIA and S&P 500 gained +0.49% and +0.91%, respectively, after rallying strongly in the previous day. Crude oil reacted in synchronization with equities and surged for a second day to 75.02, gaining +1.50% at close. Focus of gold yesterday was on ECB’s meeting. The euro was a tad higher after the central bank revised up growth and inflation forecasts and this benefited gold as the 2 returned to traditional positive correlation last month. The benchmark contract for gold settled at 1253.4, +0.42%, yesterday.
The rest is here:
Crude Extends Gains as US Data Beats Forecasts. ECB Raises Growth Projections
