Equities: Stocks finished higher today, on good job data and productivity gains, and despite pending home sales falling 7%. The market mood is still bullish hence the gains despite the mixed news. Tomorrow will be an interesting day as the jobs data approaches. There is a wide range of predictions, and some are expecting a large loss due in part to bad weather. Hopefully we'll see some action on the markets on what has been a surprisingly dull week:
Currencies: The Dollar reversed its losses against the Euro and Sterling. ECB and BoE both held rates constant today as expected, and their currencies fell. Once again we are seeing a reversal of the usual trend where strength in equities leads to weakness in the Dollar. Could good economic news start to become Dollar positive? We'll need more evidence to say if this is a new reality or just off shoots.
Commodities: Oil and gold both fell today, likely on the Dollar rising. Oil should continue be supported if equities continue to rally. I'm wondering if the inventory data coming out over the past few weeks will eventually catch up to the oil price, lets hope so
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