US stocks were higher after the close on Friday, as gains in Basic Materials, Telecoms, and Industrials led shares higher. The Dow Jones rose by 0.85%, the S&P 500 by 1.18%, and the NASDAQ added 1.28% to its value. The US dollar fell against a basket of other major currencies on Friday and recorded its largest weekly decline since June, following comments by the US Treasury Secretary earlier in the week welcoming a weaker currency. Today Core PCE Price Index is expected at 0.2% vs. 0.1% previously. Gold prices rose, closing at $1,349. Crude Oil ended Friday's session close to its strongest level since late 2014, amid ongoing optimism that OPEC led output cuts would continue to drain the market of excess supplies.
The euro traded higher against the US dollar. On the 1-hour chart, the EUR/USD pair trading close to the mid-band of the Bollinger Bands indicator with the MACD below 0. As long as the pair maintains these conditions, a fall towards 1.20 can be expected. However, rising towards the upper band may lift the pair towards 1.28. Today, the German Import Prices is expected at 0.3% vs. 0.8% previously. The pound traded higher against the dollar. On the 8-hour chart, the GBP/USD pair is trading above the resistance at 1.3620. Maintaining this condition, we might see a rise towards 1.45, while crossing below this line may lead to a fall towards 1.35.