Equity markets surged confidence into the close of the week, ignoring the crises in the Middle East, while the US Dollar was remained steady. The EUR held above 1.1400, while the GBP traded just below 1.3400. Inflation readings in Europe’s major economies, France and Germany, release reports showing inflation was benign. That was achieved by use of the most effective method, extended and deep recession. This coming week will focus on global trade and growth, while the Fed Chairman appears before Congress for the first time. It will be no surprise to see to see an escalation of the middle East crises early in the week.Commodity currencies continue to benefit the positive sentiment on global markets, with the NZD trading above 0.5750, while the AUD operates around 0.6950. A resurgence in the energy crises remains a great threat to the trade dependent nations.
