Posted by Daytrader on November 30, 2009 under Daily Forex review | 
USD Dollar (USD)
The Dollar lowered versus most majors on Friday as Dubai debt concerns were reduced due to UAE’s pledge to back foreign and domestic banks in Dubai. NASDAQ and Dow Jones dropped by -1.73% and -1.48% after being closed on Thursday due to Thanksgiving. Crude fell by -2.45% closing at 76.05$ a barrel and Gold (XAU) fell for the first time in 9 days with -1.08% change closing at 1174.2$ an ounce. Today, Chicago PMI is expected weaker with 53.1 versus 54.2 prior.
EURO (EUR)
The Euro gained slightly versus the Dollar on Friday’s session as liquidity was lower and stocks declined as a result of Dubai’s financial crisis. The Euro paired its losses as rumors of the UAE backing Dubai’s bank leaked to the market. EUR/USD traded with a low of 1.4828 and with a high of 1.50. Today, CPI Flash Estimate is expected with 0.5% versus -0.1% prior.
EUR/USD – Last: 1.5025
|
Resistance
|
1.5055
|
1.5100
|
|
|
Support
|
1.4950
|
1.4870
|
1.4825
|
British Pound (GBP)
The Pound gained versus the Dollar after UAE’s pledge to back Dubai raised risk appetite again lifting the Pound from its monthly lows. Overall, GBP/USD traded with a low of 1.6271 and a high of 1.6510. Today, Net Lending to Individuals is expected with 0.8B versus 0.6B prior, stronger result will lead to less need to expend Britain’s QE program. Mortgage Approvals are expected stronger with 59K versus 56K prior.
GBP/USD – Last: 1.6540
|
Resistance
|
1.6590
|
1.6650
|
|
|
Support
|
1.6450
|
1.6375
|
1.6325
|
Japanese Yen (JPY)
The Yen weakened versus the Dollar as uncertainty about the Dubai crisis lowered following UAE’s announcement. Investors shifted back from the safety of the Yen to higher yielding currencies. Overall, USD/JPY traded with a low of 85.08 and a high of 87.01 and EUR/JPY traded with a low of 127.38 and a high of 130.14. No economic data expected today.
USD/JPY-Last: 86.80
|
Resistance
|
87.05
|
87.50
|
88.00
|
|
Support
|
86.30
|
85.75
|
85.25
|
Canadian dollar (CAD)
The Canadian Dollar remained unchanged versus the Dollar as commodities prices dropped but Dubai’s financial crisis uncertainty lowered. Current Account came out weaker than expected with -13.1B versus -12.9B forecast and -11.9B prior. Overall, USD/CAD traded with a low of 1.0585 and a high of 1.0748. Today, GDP is expected stronger with 0.4% versus -0.1% prior. RMPI is expected stronger with 3.1% versus -1.1% prior.
CAD/USD – Last: 1.0585
|
Resistance
|
1.0650
|
1.0700
|
1.0750
|
|
Support
|
1.0570
|
1.0540
|
1.0505
|
Research by http://www.ufxbank.com
Posted by Daytrader on November 27, 2009 under Daily Forex review |
USD Dollar (USD)
The Dollar climbed against all majors after Dubai’s attempt to reschedule its debt by 6 month caused Europe Stocks to drop heavily and spurred investors to seek the safety of assets perceived as lower risk. Stocks market in U.S were close due to the Thanksgiving holiday. Crude oil fell by 3% closing at 76.2$ a barrel. Gold (XAU) closed almost unchanged at 1191.85 $ an ounce but dropped during Asia session falling back to 1170$ levels. No economic data expected today.
EURO (EUR)
The Euro fell against the Dollar following the collapse of stock markets in Europe as a result of Dubai’s debt rescheduling. EUR/USD pair traded with a low of 1.4959 and with a high of 1.5141. Loans to Euro zone households and firms fell in October for the second month in a row, coming at 0.3% vs. 0.7% forecast. No important data expected today.
EUR/USD – Last: 1.4945
|
Resistance
|
1.5020
|
1.5100
|
1.5144
|
|
Support
|
1.4913
|
1.4830
|
1.4800
|
British Pound (GBP)
The Pound fell versus the Dollar as stocks declined and a proposal by Dubai to delay debt payments prompted investors to seek what they perceive to be safer securities. Overall, GBP/USD traded with a low of 1.6466 and with a high of 1.6725. CBI Realized Sales came out at 13 vs. 12 forecast.
GBP/USD – Last: 1.6406
|
Resistance
|
1.6530
|
1.6648
|
1.6720
|
|
Support
|
1.6376
|
|
|
Japanese Yen (JPY)
The Yen rallied to a 14-year high against the Dollar, climbing past the 85.00 level, on speculation Japanese monetary authorities will tolerate further appreciation of the currency. Overall, USD/JPY traded with a low of 84.81 and with a high of 87.48. Tokyo Core CPI came out better than expected at -1.9% vs. -2% forecast.
USD/JPY-Last: 86.37
|
Resistance
|
87.00
|
87.70
|
88.62
|
|
Support
|
85.80
|
85.00
|
|
Canadian dollar (CAD)
The Canadian Dollar weakened against its U.S. counterpart by the most in almost four weeks as Dubai’s plan to reschedule its debt spurred a sell-off in crude oil, gold and equities. Overall, USD/CAD traded with a low of 1.0450 and with a high of 1.0620.Today, Current Account is expected at -12.9B vs. -11.2B prior.
CAD/USD – Last: 1.0626
|
Resistance
|
1.0641
|
1.0719
|
|
|
Support
|
1.0587
|
1.0530
|
1.0450
|
Research by http://www.ufxbank.com
Posted by TomShort on under forex market |
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