Markets Coasting into the Weekend

On May 25, 2012 by TradingDesk

Markets are coasting into a long weekend this morning with little in the way of news or movement in prices. The Euro continues to sink, hitting a fresh 22-month low a few moments ago, which has helped wipe out small overnight gains in stock and energy prices. The lack of news may be seen as a blessing after another week filled with weak economic data from all over the globe, Europe of course gains the most attention, but slowdowns are noted across Asia and South American emerging economies as well.

Look for energy prices to trade in choppy fashion on either side of unchanged today, as traders balance their books and wait for next week to make their next move. The lull in action shouldn’t be seen as strength however, as most indicators still suggest gasoline and diesel prices are heading towards $2.75.

CLICK HERE for a PDF of today’s chart

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