#Fundamental Analysis of October 16^th, 2012 by MBCFX.com

·        Europe stocks pushed higher on Spain bailout-progress talk.

·        Stocks rose to a one-week high and commodities gained while Japan’s yen weakened after U.S. retail sales beat economist expectations and before a report that may show German investor confidence rose.

·        The euro is trading higher against the U.S. dollar today, as great concerns over the global economic recovery eased and Monday’s better-than-forecast U.S. retail sales data boosted risk appetite.

·        Gold prices declined and traded lower against the USD at $1736.28 per ounce, amid concerns that the global economy is slowing and that China may refrain from additional economic stimulus.

·        Moreover, an upbeat US retail sales data reduced the case for further stimulus measures and reduced gold’s demand as a hedge against monetary easing..

·        Crude Oil is trading lower this Morning ahead of the API inventory data due later today.

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