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Major currencies gain more vs. the USD
The major currencies are gaining more ground vs. the US dollar. The dollar index has moved to the lowest level since September 21 (see chart below) and is dipping below a lower trendline at 93.10. The low price just reached 93.077.
Looking at the changes of the major currencies vs. US dollar.
- The NZDUSD is now up 89 pips and trading at the highest level since September 22.
- The AUDUSD is up 72 pips in making new weekly highs in the process.
- The CAD which benefited from a stronger employment report today at of Canada has helped to push the USDCAD down -75 pips. The pair tests mid September swing lows between 1.3118 and 1.3126. The low just dipped to 1.3115 just below those levels.
Dollar selling across the board.
Meanwhile, precious metals are moving sharply higher.
- Spot gold is trading up $27.15 or 1.43% at $1921
- spot silver is trading up $0.88 or 3.7% at $24.71
US stocks are trading near new session highs as well:
- S&P index up 35 points or 1.01% at 3482
- NASDAQ index up 141.5 points or 1.24% at 11562.23
- Dow industrial average up 233 points or 0.82% at 28659.30
This article was originally published by Forexlive.com. Read the original article here.