Strong US$ to extend, as 'eclipse' covers markets

JAKARTA: All major markets, including Wall Street and commodities, fell last night on European debt concern, thus giving way for US dollar to further rally today."Will strong dollar trend continue today? Maybe," said Wahyu Tribowo Laksono, Research Head of PT Askap Futures, in his market review this morning.As forex market highly fluctuated, EUR/USD was closed at 1.4164, below 1.4200 (23.6% retracement for May 4) or near support of 100-day sma at 1.4150. Meanwhile, WTI crude futures broke below US$96 per barrel, approaching target at US$91, he said.He recommends a close look on gold, which usually gains high at the time of uncertainty.Gold actually did good last night, up by US$6 to 1,530. Risk aversion boosts its appeal as safe haven instrument although at many times, it trades as counterpart to dollar. So for today, it will be pro US$, and play safe in gold while others see eclipse to continue, Wahyu told Bisnis. (NOM)