Posted by admin on August 31, 2010 under forex market | 
USD Dollar (USD) – The Dollar rose versus most major counterparts as U.S. stocks dropped, fueling demand for safer assets. The Core PCE Price Index came out unchanged at 0.1% as expected, while the Personal Spending report came out 0.4% better than the expected 0.3%. NASDAQ and Dow Jones declined by -1.56% and -1.39% respectively. Crude Oil dropped by -0.6%, closing near $74 a barrel. Gold (XAU) traded almost unchanged and closed at $1236.50 an ounce. Today, the Chicago PMI is expected at 57.5 vs. 62.3 previously. The CB Consumer Confidence is expected at 50 vs. 50.4 previously and later THE FOMC Meeting Minutes is expected.
EURO (EUR) – The Euro has lost a ground in Forex Trading, after rising on the last 3 trading days versus the Dollar and fell back to trade below the 1.27 area. Breaking the 1.2670 support level might push the pair lower. Overall, EUR/USD traded with a low of 1.2633 and with a high of 1.2771. Today, the German Unemployment Change is expected at -19k vs. -20k previously. The Preliminary CPI is expected at 1.6% vs. 1.7% previously. The Unemployment Rate is expected unchanged at 10%.
EUR/USD – Last: 1.2650
| Resistance |
1.2680 |
1.2790 |
1.2830 |
| Support |
1.2600 |
|
|
British Pound (GBP) – The Pound declined versus the Dollar as the UK banks were closed and as a main trend, investors favored risk aversion by buying the US Dollar. Breaking the 1.5480 support level might push the pair lower. Overall, GBP/USD traded with a low of 1.5452 and with a high of 1.5574. Today, the Net lending to individuals is expected at 0.7B vs. 0.6B previously.
GBP/USD – Last: 1.5455
| Resistance |
1.5480 |
1.5510 |
1.5540 |
| Support |
1.5440 |
1.5380 |
|
Japanese Yen (JPY) – The Yen rose across the board on speculation that the Bank of Japan’s stimulus plan is not enough to weaken the Japanese currency. The Prelim Industrial Production came out 0.3% better than the expected -0.3%. Retail Sales came out 0.3% worse than an expected 3.1%. Breaking the 84.50 support level might push the pair lower. Overall, USD/JPY traded with a low of 84.47 and with a high of 85.89. No economic data expected is today.
USD/JPY-Last: 84.29
| Resistance |
84.50 |
84.90 |
85.30 |
| Support |
83.80 |
|
|
Canadian dollar (CAD) – The U.S Dollar gained versus the Canadian dollar on weaker than forecast economic data, which added to evidence that the nation’s recovery has slowed. The Current Account came out -11B, worse than an expected -10.2B. Breaching the 1.0660 resistance level might bring the pair to fresh highs. Overall, USD/CAD traded with a low of 1.0470 and with a high of 1.0609. Today, the GDP is expected at 0.2% vs. 0.1% previously.
USD/CAD – Last: 1.0599
| Resistance |
1.0620 |
1.0660 |
|
| Support |
1.0535 |
1.0475 |
|
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Posted by admin on August 30, 2010 under forex market |
USD Dollar (USD) – The Dollar weakened against most of the majors in Forex Trading, as an improvement in the market pushed investors towards riskier assets. The Prelim GDP came out 1.6% better than the expected 1.4%. The Michigan Consumer Sentiment Index came out 68.9 worse than an expected 69.4. The NASDAQ and Dow Jones jumped sharply by 1.65% and 1.65% respectively after a negative opening. Crude Oil closed positive for a third day after it soared by 2.8% and closed at $75.53 a barrel. Gold (XAU) traded almost unchanged and closed at $1237 an ounce. Today, the Core PCE Price Index is expected at 0.1% vs. 0% previously. The Personal Spending is expected at 0.3% vs. 0% previously.
EURO (EUR) – The Euro advanced against the dollar after the Fed said that will be ready to take further recovery steps but only if the economy slows significantly which would bring investors to favor higher yielding assets. The German Prelim CPI came out 0% worse than an expected 0.2%. Holding above the support level of 1.2670 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2675 and with a high of 1.2779. No economic data is expected today.
EUR/USD – Last: 1.2738
| Resistance |
1.2790 |
1.2830 |
|
| Support |
1.2680 |
1.26 |
|
British Pound (GBP) – The Pound gained against the dollar as the GDP came out 1.2% better than the expected 1.1%. The Prelim Business Investment came out -1.6% worse than an expected 2.3%. Holding above the support level of 1.5485 keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5440 and with a high of 1.5541. Today, UK banks will be closed in observance of the Summer Bank Holiday;
GBP/USD – Last: 1.5528
| Resistance |
1.5540 |
1.5600 |
|
| Support |
1.5510 |
1.5480 |
1.5380 |
Japanese Yen (JPY) – The Yen, which weakened across the board, was affected by the change in market sentiment favoring riskier assets and also overbought conditions for the Japanese currency. Holding above the support level of 85.40 keeps the momentum positive for the pair. Overall, USD/JPY traded with a low of 84.26 and with a high of 85.75. Today, the Prelim Industrial Production is expected at -0.3% vs. -1.1% previously. The Retail Sales are expected at 3.1% vs. 3.3% previously.
USD/JPY-Last: 85.41
| Resistance |
85.30 |
85.90 |
|
| Support |
84.90 |
83.80 |
|
Canadian dollar (CAD) – Canada’s dollar gained for a third day versus the U.S dollar as the stock markets and Crude Oil gained, boosting demand for the commodity linked currency. Holding below the 1.0535 resistance level, might extend the decline in the pair. Overall, USD/CAD traded with a low of 1.0478 and with a high of 1.0646. Today, the Current Account is expected at -10.2B vs. -7.8B previously.
USD/CAD – Last: 1.0496
| Resistance |
1.0535 |
1.0620 |
1.0660 |
| Support |
1.0440 |
1.0380 |
|
Tags: currency pair, currency trading, daily forex, foreign exchange, Forex, forex account, forex analysis, forex demo, forex market, forex news, forex online, forex online market, forex online trading, forex reviews, forex strategy, Forex Trading, fx forex, fx trading, gold trading, learn forex, NASDAQ, start forex trading, trade forex, ufx bank, ufxbank
Posted by admin on August 27, 2010 under forex market |
USD Dollar (USD) – The Dollar weakened against the majors for the second day in a row as an improvement in the market pushed the investors towards riskier assets. The Initial Jobless Claims came out 473K better than the expected 485K. NASDAQ and Dow Jones fell by -1.07% and -0.74%, respectively, after a positive opening. Crude Oil closed positive for a second day at $73.07 a barrel. Gold (XAU) fell from its high level and closed at $1237 an ounce. Today, the Prelim GDP is expected at 1.4% vs. 2.4% previously. The Michigan Consumer Sentiment Index is expected at 69.4 vs. 69.6 previously.
EURO (EUR) – The Euro advanced against the dollar in Forex Trading and managed to close above the 1.27 area. The Gfk German Consumer Climate came out 4.1 unchanged as expected. Holding above the support level of 1.2670 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2647 and with a high of 1.2764. Today, the German Prelim CPI is expected at 0.2% vs. 0.3% previously.
EUR/USD – Last: 1.2713
| Resistance |
1.2740 |
1.2790 |
|
| Support |
1.2680 |
1.26 |
|
British Pound (GBP) – The Pound gained against the dollar as the CBI DTS data came out 35 much better than the expected 25. Holding above the support level of 1.5485 will keep the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5452 and with a high of 1.5595. Today, the GDP is expected unchanged at 1.1%. The Prelim Business Investment is expected at 2.3% vs. 7.8% previously.
GBP/USD – Last: 1.5520
| Resistance |
1.5540 |
1.5600 |
|
| Support |
1.5510 |
1.5480 |
1.5380 |
Japanese Yen (JPY) – The Yen traded almost unchanged versus the dollar in a narrow range with small gains. A demand for the safety currency of Japan is still required for investors, as there is still concern on slowing U.S economic growth. The Tokyo Core CPI came out -1.1% better than the expected -1.2%. Range trading between the 84 – 85 levels is possible till further economic developments. Overall, USD/JPY traded with a low of 84.26 and with a high of 84.87. No economic data is expected today.
USD/JPY-Last: 84.46
| Resistance |
84.90 |
85.40 |
|
| Support |
83.80 |
|
|
Canadian dollar (CAD) – Canada’s dollar gained for a second day versus the U.S dollar as it fell against the majors. Canada’s currency was also supported by a rise in commodities as crude oil rose. Holding below the 1.0660 resistance level, might push the pair downwards. Overall, USD/CAD traded with a low of 1.0519 and with a high of 1.0604. No economic data expected today.
USD/CAD – Last: 1.0577
| Resistance |
1.0620 |
1.0660 |
|
| Support |
1.0535 |
1.0500 |
1.0440 |
Tags: currency pair, currency trading, daily forex, foreign exchange, Forex, forex account, forex analysis, forex demo, forex market, forex news, forex online, forex online market, forex online trading, forex reviews, forex strategy, Forex Trading, fx forex, fx trading, gold trading, learn forex, NASDAQ, start forex trading, trade forex, ufx bank, ufxbank
