Market analysts at FXCM see strong evidence suggesting the US dollar trend is reversing and a major low is forming.
						 
						
							A US$8.5bn bid for Skype by Microsoft got Wall Street’s attention last night as commodity prices continued to tick up. Dow up 75.
						 
						
							Market analysts at FXCM note the Australian dollar has traced out a bearish engulfing pattern on the weekly chart, which suggests further weakness in coming days.
						 
						
							Oil surged 6% last night as fundamentals met an oversold market. Precious metals followed. Dow up 45. (Locked for subscribers until 10:00 AEDT)
						 
						
							Market analysts at FXCM suggest while fundamentals are becoming more supportive of the US dollar there are enough concerns to hesitate labelling recent gains as a true reversal in sentiment.
						 
						
							Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
						 
						
							There was no ECB rate rise, sparking the biggest fall in commodity prices since 2008. Weak US data helped the Dow down 139 points.
						 
						
							A snapshot of economist responses to today’s 0.5% fall in March retail sales when 0.5% growth was expected.
						 
						
							Brokers continue to assess stocks with earnings most at risk from a strong currency.
						 
						
							The commodities sell-off continued to snowball last night, assisted by some weak US economic data. Dow down 83.