Posted by admin on May 31, 2011 under forex market | 
USD Dollar (USD) – The dollar fell versus most of the major currencies of forex trading on speculation that the U.S. economic recovery is slowing. We can see evidence for that in recent US macroeconomic indicators. In addition, Employers probably hired fewer workers in May and manufacturing cooled as the jump in fuel costs and the effects of Japan’s earthquake rippled through the U.S. The employment data expected to be released this week will be the key to really see “what’s happening” in the U.S. The currency markets traded amid a lack of volume and interest due to the Memorial Day holiday in the US. Crude oil fell by 0.40%, closing at $100.30 a barrel. Oil dropped on speculation that fuel demand will falter amid a slowdown in the U.S. economic recovery and Europe’s continuing debt crisis. Gold (XAU) rose 0.20% and closed at $1,538 an ounce, sustained by its safe-haven role amid continuing debt woes in the euro zone. Today, CB Consumer Confidence is expected to rise to 66.30 vs. 65.40 previously and the Chicago PMI is expected to rise to 63.80 vs. 67.60 previously.
Euro (EUR) – The euro strengthened against the U.S Dollar on speculation that Germany may drop its plan to demand an early rescheduling of bonds for Greece. In addition, the head of the euro-area finance ministers’ group, said that European Union leaders will decide on additional aid for Greece by the end of June and have ruled out a “total restructuring” of the nation’s debt. Trading above the support level of 1.4320 will keep the momentum positive to for the pair, but if the pair remains below this support level, it might fall to 1.4100. Overall, EUR/USD traded with a low of 1.4067 and with a high of 1.4351. Today, German Retail Sales m/m data is expected to grow by 1.70% vs. -2.70% previously and the CPI Flash Estimate is expected to show a growth of 2.80%, as it was previously.
EUR/USD – Last: 1.4380
| Resistance |
1.4420 |
1.4500 |
1.4550 |
| Support |
1.4320 |
1.4280 |
1.4220 |
British Pound (GBP) – The Pound strengthened against the Greenback due to the US Dollar’s weakness, despite the fact that UK banks were closed today in observance of the Spring Bank Holiday. The trend for the pair is bullish if the pair is able to maintain its support level of 1.6450. Overall, GBP/USD traded with a low of 1.6057 and with a high of 1.6511. Today, no economic data is expected.
GBP/USD – Last: 1.6540
| Resistance |
1.6550 |
1.6620 |
1.6650 |
| Support |
1.6500 |
1.6440 |
1.6400 |
Japanese Yen (JPY) – The dollar strengthened against the yen after it gathered enough momentum to break above the resistance level of 81.00 earlier today. The trend for the pair is bullish. If the pair succeeds in maintaining its support of 81.00, it may bring the pair to 81.80, its next resistance level. Today, Bank of Japan Governor, Shirakawa is expected to Speak.
USD/JPY-Last: 81.20
| Resistance |
81.50 |
81.80 |
82.50 |
| Support |
81.00 |
80.70 |
80.20 |
Canadian dollar (CAD) – The Canadian Dollar strengthened against its U.S. counterpart as a result of Canada’s first-quarter GDP growth having accelerated to the fastest pace in a year. Outlays by businesses increased while consumer and government spending stalled. In addition, policymakers will meet today to set the interest rate, which is expected to stay unchanged at 1.00% and the Bank of Canada will release a statement.
USD/CAD – Last: 0.9735
| Resistance |
0.9750 |
0.9770 |
0.9800 |
| Support |
0.9720 |
0.9700 |
0.9650 |
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 May 30, 2011 under forex market |
USD Dollar (USD) – The dollar fell versus most of the major currencies of Forex trading due to poor macroeconomic data. Pending home sales posted the biggest decline since May 2010, falling 11.6% in April. In addition, Employers probably hired fewer workers in May and manufacturing cooled as the jump in fuel costs and the effects of Japan’s earthquake rippled through the U.S. economy. In spite of this, Federal Reserve Bank of Kansas City President Hoenig, the central bank’s longest-serving policy maker, said that the U.S. needs to raise interest rates to encourage individuals to save and avoid future asset bubbles. It is important to mention that the financial markets in the two big centers, London and NY, are closed today, meaning that we’ll have a very quiet day in the markets, and the lack of liquidity could lead to some whippy and volatile trade. The Stock Markets closed positive as the Dow Jones rose by 0.31% and the NASDAQ gained 0.50%. Crude oil rose by 0.40%, closing at $100.70 a barrel. Gold (XAU) rose by 0.80% and closed at $1,535 an ounce on a weaker US dollar, as gold continues to attract investors seeking a refuge amid Greece’s debt woes. Today, no economic data is expected.
Euro (EUR) – The euro strengthened against the U.S Dollar despite the concern that European governments will struggle to resolve the sovereign debt crisis, damping demand for the region’s assets. Trading above the support level of 1.4250 will keep the momentum positive for the pair, but if the pair keeps below this support level, it might fall to 1.4100. Overall, EUR/USD traded with a low of 1.4067 and with a high of 1.4321. Today, no economic data is expected.
EUR/USD – Last: 1.4285
| Resistance |
1.4320 |
1.4400 |
1.4480 |
| Support |
1.4250 |
1.4200 |
1.4100 |
British Pound (GBP) – The Pound strengthened against the Greenback as Nationwide HPI showed growth of 0.30% vs. -0.20% previously, and poor macroeconomic data was released from the US. The trend for the pair is bullish if the pair maintains it support level of 1.6400. Overall, GBP/USD traded with a low of 1.6057 and with a high of 1.6511. Today UK banks will be closed in observance of the Spring Bank Holiday.
GBP/USD – Last: 1.6480
| Resistance |
1.6520 |
1.6650 |
1.6700 |
| Support |
1.6400 |
1.6320 |
1.6280 |
Japanese Yen (JPY) – The dollar fell against the yen due to poor US macroeconomic indicators that continued coming, despite Fitch downgrading the Japanese credit outlook. The trend for the pair is bearish. If the pair succeeds to break its support level of 80.70, it may bring the pair to 80.20, its next support level. Today, Household Spending is expected to fall by -2.6% vs. -8.5% previously and Prelim Industrial Production is expected to rise by 2.50% vs. -15.5% previously.
USD/JPY-Last: 80.80
| Resistance |
81.00 |
81.20 |
81.80 |
| Support |
80.70 |
80.20 |
79.60 |
Australian dollar (AUD) – The Australian Dollar strengthened against its U.S. counterpart due to US Dollar weakness. But, the first quarter Australian GDP figures, which will be officially released later this week, may have fallen by more than 1% due to the Queensland floods. In addition, the March 11 earthquake and tsunami in Japan affected the economy too, due to the fact that Japan is Australia’s second largest trading partner after China. Today, Building Approvals are expected to decline by -1.70% vs. 9.10% previously and the Current Account is expected to be released at -10.1B vs. -7.3B.
AUD/USD – Last: 1.0700
| Resistance |
1.0750 |
1.0780 |
1.0820 |
| Support |
1.0660 |
1.0600 |
1.0550 |
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 May 26, 2011 under forex market |
USD Dollar (USD) – The Dollar was mixed against the other major pairs of Forex trading as U.S. core durable goods orders fell unexpectedly in April, posting the biggest drop in six months. The report came out at -1.5% vs. 0.7% forecast. In addition, the European debt crisis, which continues to make headlines, is causing currencies to be unstable. The NASDAQ and Dow Jones strengthened by 0.55% and 0.31% respectively. Crude oil increased by 1.7%, closing at $101.32 a barrel. Gold (XAU) rose by 0.2%, and closed at $1526.70 an ounce. Today, Prelim GDP is expected to rise from 1.8% to 2.2%. Unemployment Claims are expected to be 400K vs. 409K last time.
Euro (EUR) – The Euro fluctuated versus the Dollar after reports that an official in Greece said that the country may have to abandon the euro if it doesn’t deal with its debt crisis. In the end, the pair closed almost unchanged as the US stock markets closed positive after a negative start to a day that supported higher yielding assets. The EUR/USD is facing serious resistance levels between 1.4120 and 1.4170. In the case that the pair hits and stays above these levels, the Euro will likely continue to strengthen towards 1.4220, or even more. Overall, EUR/USD traded with a low of 1.4013 and with a high of 1.4118. Today, ECB President Trichet Speaks.
EUR/USD – Last: 1.4159
| Resistance |
1.4340 |
1.4440 |
1.4590 |
| Support |
1.4135 |
1.4065 |
1.3970 |
British Pound (GBP) – The Pound strengthened for a second day against the Dollar as a report showed that U.K. exports helped the economy resume growth in the first quarter and the GDP data came out as forecast at 0.5%. The next resistance level of the GBP/USD on the four hour chart is located at 1.6320, and if the pair crosses this level and remains above it, the pound will probably continue to rise toward 1.6370, and above. Overall, GBP/USD traded with a low of 1.6131 and with a high of 1.6293. No economic data is expected today.
GBP/USD – Last: 1.6315
| Resistance |
1.6335 |
|
|
| Support |
1.6300 |
1.6250 |
1.6130 |
Japanese Yen (JPY) –The Yen was mixed versus the major currencies, closing almost unchanged against the Dollar, as concerns over the euro zone’s sovereign debt crisis and negative data from the US boosted demand for the yen as a refuge. The USD/JPY is struggling with the 82.00 level, but as long as the pair is trading above the 81.40 level, a long position is preferred and the resistance level will likely break. Overall, USD/JPY traded with a low of 81.80 and with a high of 82.17. No economic data is expected today.
USD/JPY-Last: 81.87
| Resistance |
82.00 |
82.20 |
|
| Support |
81.80 |
81.60 |
81.30 |
Canadian dollar (CAD) – The Canadian dollar pared its losses versus the Dollar after touching its lowest level since March as crude oil rose during the US session, reviving demand for higher yielding assets. As long as the pair is trading above 0.9720 levels, the US Dollar momentum is bullish, and the next resistance level on the four hour chart is located at 0.9820 levels. Overall, USD/CAD traded with a low of 0.9743 and with a high of 0.9816. No major news is expected today.
USD/CAD – Last: 0.9762
| Resistance |
0.9820 |
|
|
| Support |
0.9750 |
0.9730 |
0.9700 |
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
