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US markets closing the week with solid gains

By FXstreet.com January 04, 2013, 01:40:00 PM EDT

FXstreet.com (Barcelona) - The optimism has returned to the US stock markets, which are closing the week with strong gains backed by the last-minute resolution of the so-called 'fiscal cliff' and today's NFP figures in line with market expectations.
The greenback, measured by the US Dollar Index, is also closing the week in the positive territory. The USD has not only managed to recover from Tuesday's sell off, but it has also come back to close the week in the vicinity of the key resistance at 81.00
At the moment, the DowJones is up 0.12%, Nasdaq 0.01% and the S&P500 0.28%.

Markets in Euroland followed suit and posted solid weekly gains with the US 'fiscal cliff' as leitmotif. Today gains were led by the UK benchmark, advancing 0.70%, ahead of the IBEX35 and the DAX, up 0.35% and 0.26% respectively.
A forgettable week for the single currency however, as EUR/USD is navigating the area around 1.3050 as of writing, after hitting 1.3300 on Tuesday post-cliff. Increasing risk aversion and an unusual hawkish tone out of the FOMC minutes were enough to undermine any dream of a sustainable upside for the euro.

The barrel of WTI has recovered the ground lost at the beginning of the session, now trading flat at 92.93, while the ounce troy of gold is still suffering the effects of yesterday's FOMC minutes, dropping to 1648 or -1.58%.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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