US stocks holding on to Draghi-led rally

FXStreet (Mumbai) - US stocks are holding on to a small rally witnessed at the open triggered by dovish comments from ECB’s Draghi.

At the time of writing, the Dow Jones Industrial Average (DJIA) was up 85 points or 0.5%. The S&P 500 index was up 6 points or 0.37%. The Nasdaq was up 0.30% as well.

The risk sentiment stabilized as ECB’s Draghi said the central bank would "review and possibly reconsider" its monetary policy stance in March. This means the doors are wide open for a rate cut/QE expansion in March.

Meanwhile, the data released in the US showed US jobless claims rose unexpectedly to six-month highs last week. However, the markets are not worried about the same as of now.

Gold stays below $1100/Oz in US

Gold prices remain below the psychological level of USD 1100/Oz levels as the USD index strengthened after ECB’s Draghi jawboned the EUR/USD pair lower.
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EUR/USD: A false break? - BBH

According to analysts from Brown Brother Harriman, today’s Draghi press conference moved the euro to the downside, but it is not clear if it will remain lower or if it is a false breakout.
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