Posted by admin on July 8, 2010 under Uncategorized | Be the First to Comment

USD Dollar (USD) – The Dollar declined against most majors as global stocks rallied strongly on the outlook for U.S. retail sales, reducing safety demand for the world’s main reserve currency.  NASDAQ and Dow Jones jumped by 3.13% and 2.82% respectively, crude oil rose by 2.9 closing at 74.07$ a barrel, Gold (XAU) strengthened  by 0.3% closing at 1198.9$ an ounce. Today, Unemployment Claims are expected to weak from 472K to 461K.

EURO (EUR) – The Euro erased early losses and climbed to a six-week high against the Dollar in Forex Trading. This came after it had weakened during the day as German factory orders unexpectedly fell for the first time in five months in May, the report came out at -0.5% vs. 0.5% forecast. In the end, it closed almost unchanged after stock markets became positive. The EUR/USD has been trading upwards since last week and broke its resistance levels on the daily chart at 1.2500, therefore the momentum is bullish, as long as the price is above 1.2500 a long position is preferred. Overall, EUR/USD traded with a low of 1.2553 and with a high of 1.2664. Today, the interest rate decision is expected to remain unchanged at 1.0%, this will be announced at the ECB Press Conference.

EUR/USD – Last: 1.2664

British Pound (GBP) – The Pound rose for a second day as market sentiment turned positive after U.S. stock markets rallied, which led investors to buy risky assets instead. The GBP/USD has been trading upwards since June, and therefore the momentum is clearly bullish. The main resistance level on the daily graph is located at 1.5260. Overall, GBP/USD traded with a low of 1.5081 and with a high of 1.5219. Today, the interest rate decision is expected to remain unchanged at 0.5%, Manufacturing Production is expected to become positive from -0.4% to 0.4%.

GBP/USD – Last: 1.5211

Japanese Yen (JPY) –The Yen strengthened against the Dollar and the Euro during the day after bad news was released, which supported safety currencies like the Yen. At the end of the American session, the Dollar rebounded nicely and closed positive, successfully weakening the yen. The main resistance of the USD/JPY is at the 89.0 level. As long it’s trading below this level a short position is preferred, the 10 moving average supports a downward trend as well. Overall, USD/JPY traded with a low of 87.02 and with a high of 87.77. No major news expected today.

USD/JPY-Last: 88.36

Canadian dollar (CAD) – The Canadian Dollar strengthened to the highest level in more than a week against the Dollar as stocks rallied and crude oil climbed, improving the outlook for currencies tied to growth. As long the USD/CAD is below 1.0550 levels a short position is preferred. Overall, USD/CAD traded with a low of 10467 and with a high of 1.0606. No major news expected today.

USD/CAD – Last: 1.0448

Forex Daily News: July 7, 2010 – The Euro Advances

Posted by admin on July 7, 2010 under Uncategorized | Be the First to Comment

USD Dollar (USD) – The Dollar weakened across the board in Forex Trading, after a report showed slower growth in the U.S. The ISM Non – Manufacturing Index came out at 53.8, worse than the expected 55. Stock Markets in the U.S jumped more than 2% as investors came back to trade after the holiday, but hardly managed to hold gains with Dow Jones increasing by only 0.59% and the NASDAQ rising by a mere 0.1%. Crude Oil almost reached the 74$ but failed to hold and fell back to 72$ a barrel. Gold (XAU) fell below the 1200$ and closed at 1193$ an ounce. No economic data is expected today.

Euro (EUR) – The Euro advanced versus the Dollar to a 6 week high as reports in the US showed slower economic growth than expected. Breaching the 1.2670 level might extend the positive momentum in the pair. Overall, EUR/USD traded with a low of 1.2479 and with a high of 1.2660. Today, the GDP is expected to remain unchanged at 0.2%. German Factory Orders are expected at 0.5% vs. 2.8% previously.

EUR/USD – Last: 1.2585

British Pound (GBP) – The Pound advanced against the Dollar as stock markets climbed, decreasing demand for the safest assets. Another attempt to breach the resistance level at 1.5220 failed and the Sterling declined below the 1.52 zone. Breaching the 1.5220 level might extend the positive momentum in the pair. Overall, GBP/USD traded with a low of 1.5080 and with a high of 1.5224. No economic data is expected today.

GBP/USD – Last: 1.5120

Japanese Yen (JPY) – The Dollar fell against the Japanese Yen but still the pair capped in a narrow range. Breaching the 87.8 level will turn the momentum positive for the pair. Overall, USD/JPY traded with a low of 87.33 and with a high of 87.96. No major economic data is expected today.

USD/JPY-Last: 87.40

Canadian dollar (CAD) – The American Dollar was weakened by economic data and Canada’s Dollar appreciated for the first time in 3 days. Breaking the support level of 1.0530 turns the momentum to negative for the pair. Overall, USD/CAD traded with a low of 1.0484 and with a high of 1.0675. Today, the Ivey PMI is expected at 64.2 vs. 62.7 previously.

USD/CAD-Last: 1.0563

Forex Daily News: July 5, 2010 – US Jobs Data Sends Dollar Down

Posted by admin on July 5, 2010 under daily forex analysis, Daily Forex review, daily technical anlysis, forex market, Forex Trader Review, Online Forex Review, Uncategorized | Be the First to Comment

USD Dollar (USD) – The Dollar weakened against most of the major currencies after the NFP report showed worse than expected data while job losses came out -125k vs. expected -100k. The Unemployment Rate came out 9.5% better than expected 9.8%. Stocks in the US fell with NASDAQ and Dow Jones falling by -0.46% and -0.47% respectively. Crude oil fell for a fifth day in a row hardly managing to close at 72.2$ a barrel. Gold (XAU) recovered a little from its previous losses and closed at 1211$an ounce. Today, US banks will be closed in observance of Independence Day, low liquidity might cause to irregular volatility in the market.

Euro (EUR) – The Euro rose further against the Dollar after the release of the US employment report hitting a 6 week high and extending its rally. The Unemployment Rate came out 10% better than expected 10.1%. The PPI came out unchanged at 0.3% as expected. Trading above the support level of 1.2470 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2480 and with a high of 1.22610. Today, the Retail Sales are expected at -0.1% vs. -1.5% previously.

EUR/USD – Last: 1.2544

British Pound (GBP) – After the NFP data came out in US the Sterling has reached 8 week fresh high at 1.5228 but shortly fell below the 1.52 zone. The Construction PMI came out 58.4 worse than expected 58.6. Trading above the support level of 1.5120 keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5148 and with a high of 1.5228. Today, the Service PMI is expected at 55.2 vs. 55.4 previously.

GBP/USD – Last: 1.5179

Japanese Yen (JPY) – The Dollar recovered versus the Yen after the NFP data came out while attempting to rise back above the 88 zone. Breaching the 87.8 level will turn the momentum to positive for the pair. Overall, USD/JPY traded with a low of 87.31 and with a high of 88.20. No economic data is expected today.

USD/JPY-Last: 87.90

Canadian dollar (CAD) – The US Dollar rose in Forex Trading versus the Canada’s Dollar as investors observed contrarian figures in the US Labor sector. The loss on jobs but decrease in unemployment rate added upside momentum to the pair. Trading above the support level of 1.0530 keeps the momentum positive for the pair. Overall, USD/CAD traded with a low of 1.0554 and with a high of 1.0666. No economic data is expected today.

USD/CAD-Last: 1.0606