UFXBank Daily News: Oil and Gold Drop

Posted by admin on September 20, 2011 under forex market | Be the First to Comment

USD Dollar (USD) – In forex trading, the Dollar strengthened against the other major currencies as Stocks pared losses in the final hour of trading as Greece reported that discussions with European officials about the country’s bailout were productive. President Obama proposed the “Buffet tax” plan to Congress, to increase taxes from citizens who make more than 1 million dollars a year and more cuts in the government budget that will minimize the deficit by 1.5 trillion Dollars over the next 10 years. Wall Street closed bearish as the NASDAQ fell by 0.36% and the Dow Jones by 0.94%. Crude oil dropped by 2.6% and closed at $85.70 a barrel. Gold (XAU) also fell today by 2% closing at nearly $1,778.90 an ounce. Today, the Building Permits are expected to come out at 0.60M as before.

Euro (EUR) – The Euro fell against the US Dollar as the stocks markets in Europe experienced a sharp drop as investors wait to hear whether Greece will default tomorrow. In addition, Italy’s credit rating was cut by Standard & Poor on concern that weakening economic growth and a “fragile” government means that the nation won’t be able to reduce the Euro region’s second largest debt burden. The EUR/USD’s momentum is bearish as long as the pair remains below the 1.3650 level; the next support level on the daily chart is at the 1.3585 level. Overall, the EUR/USD traded with a low of 1.3604 and with a high of 1.3688. Today, the German ZEW Economic Sentiment is expected to come out at -44.3 vs. -37.6 previously. The European ZEW is expected to come out at -42.3 vs. -40.0 previously.

EUR/USD  – Last: 1.3609

British Pound (GBP) – The British Pound fell against the US Dollar as the stock market fell today. The momentum of the GBP/EUR is bearish below 1.5676 with a support level at 1.5585 and resistance level at 1.5840. Overall, the GBP/USD traded with a low of 1.5655 and with a high of 1.5702. No economic data is expected to be published today.

GBP/USD – Last: 1.5674

Japanese Yen (JPY) – The Yen strengthened against the US Dollar as investors are concerned about the future of Greece. The USD/JPY is struggling at the 77.00 level and as long as the pair is trading below the 77.20 level the Yen is more attractive.The next support line on the daily chart is located at the 76.00 level. Overall, the USD/JPY traded with a low of 76.31 and with a high of 76.96. No economic data is expected to be published today.

USD/JPY-Last: 76.49

Canadian Dollar (CAD) – Canada’s Dollar dropped the most in more than a month against its U.S. counterpart on concern that Greece may not receive an installment of aid, crimping demand for higher-yielding assets. As long as the pair is trading abovethe 0.9880 level, the trend of the US Dollar is bullish.The Moving Average indicator on the one-hour chart supports a positive trend for the US Dollar. Overall, the USD/CAD traded with a low of 0.9892 and with a high of 0.9936. Today, the Bank of Canada Gov Carney speaks and the Wholesale Sales m/m are expected at 0.7% vs. 0.2% previously.

USD/CAD – Last: 0.9927

UFXBank Daily News: Black Gold Jumps by 2.3% due to Positive Stocks Trend

Posted by admin on September 14, 2011 under forex market | Be the First to Comment

Daily Market Review 14/09/2011

USD Dollar (USD) – In forex trading, the US Dollar traded mixed against the other major currencies as the debt crisis concern in Greece didn’t really make headlines. US equities advanced on the hope that further political support for Greece would be applied. The Federal Budget Balance was published at -134.2B, worse than the expected -128.4B. The fiscal deficit in August was the highest since March. The Stock Market closed positive as the Dow Jones climbed by 0.4% and the NASDAQ gained 1.49%. Crude oil jumped by 2.3% and closed at $90.20 a barrel due to the positive trend in the equity markets. Gold (XAU) has joined the positive momentum of the Markets and appreciated by 0.9%, closing at $1,830 an ounce as investors had a good chance to buy it at the low price of $1,800 earlier. Today, the Core Retail Sales are expected at 0.2% vs. 0.5%. Crude Oil Inventories are expected at -3.1M vs. -4M previously. If the Inventories do shrink, we might expect another positive day for Black Gold.

Euro (EUR) – The Euro rose against the US Dollar as stocks gained, fueled by a jump in French bank shares and higher investor demand for riskier assets. Confidence in the European currency was established after Italy was issuing 5-year bonds worth 3.9B Euro and an Interest Rate set at 5.6%. The French CPI came out at 0.5%, better than the expected 0.3%. Holding above the support level of 1.3640 might push the pair higher; otherwise a rebound back to the 1.35 zones might be seen. Overall, the EUR/USD traded with a low of 1.3557 and with a high of 1.3738. Today, the Industrial Production is expected higher, at 1.5% vs. -0.7% previously.

EUR/USD – Last: 1.3691

British Pound (GBP) – The Pound failed to hold gains against the greenback amid concern that due to the debt crisis, the UK’s partner, Europe, will hurt Britain’s economic growth. The CPI came out unchanged as expected at 4.5%. The Pound also depreciated as a government report showed inflation accelerated in August. Holding below the resistance level of 1.5830 keeps the momentum negative for the pair. Overall, the GBP/USD traded with a low of 1.5760 and with a high of 1.5866. Today, the Claimant Count Change is expected at 34.8k vs. 37.1k previously. The Bank of England Gov is also expected to speak.

GBP/USD – Last: 1.5796

Japanese Yen (JPY) – The Yen has slightly advanced against the US Dollar, mostly trading in a very tight range. The demand for refuge increased on concern over the slowing US economy and Euro zone debt problems. The USD/JPY’s trend is bearish if the pair maintains the resistance level at 77.00. The next support level on the daily chart lies at the 76.40 levels. When the pair breaks this level, a short position will be profitable. Overall, the USD/JPY traded with a low of 76.79 and with a high of 77.24. Today, no economic news is expected to be published.

USD/JPY-Last: 76.90

Canadian dollar (CAD) – The Canadian Dollar gained for a second day against the US Dollar as risk appetite drove investors. Material prices increased, as crude oil dragged the loonie with it. Breaking the next support level of 0.9830 will push the USD/CAD pair lower. Overall, the USD/CAD traded with a low of 0.9848 and with a high of 0.9974. Today, no economic news is expected to be published.

USD/CAD – Last: 0.9853

UFXBank Daily News: USD Rises Against All Other Majors

Posted by admin on September 12, 2011 under forex market | Be the First to Comment

USD Dollar (USD)

In forex trading, the Dollar gained across the board as the Debt Crisis in Greece and Juergen Stark’s, a member of the Executive Board, quit from his ECB post over the bank’s purchases of bonds pushed investors for risk aversion and favored the greenback. The Stock Markets reacted sharply negative as the Dow Jones was crushed by -2.69% and the NASDAQ lost -2.42%. Crude oil declined by -2% and closed at $87.20 a barrel. Gold (XAU) has slightly strengthened by 0.1% and closed at $1,859.50 an ounce. No economic news is expected to be published today.

Euro (EUR)

The Euro was crushed against the US Dollar on speculation that the ECB will cut interest rates based on the fact that the region’s debt crisis is worsening and increasing interest rates is not seen as an option in the midterm. Breaking the next support level of 1.3640 might push the pair lower to the 1.34 zones; otherwise a rebound to the 1.38 areas might be seen. Overall, the EUR/USD traded with a low of 1.3626 and with a high of 1.3936. Today, no major economic news is expected to be published.

EUR/USD – Last: 1.3593

British Pound (GBP)

The Pound buckled under the buying pressure of the US Dollar and fell below the 1.59 zones. The disappointing data of the PPI Input came out at -1.9% worse than the expected -1.6%. Breaking the next support level of 1.5830 might push the pair lower to the 1.56 zones; otherwise a rebound to the 1.6 areas might be seen. Overall, the GBP/USD traded with a low of 1.5842 and with a high of 1.5989. Today, no economic news is expected to be published.

GBP/USD – Last: 1.5858

Japanese Yen (JPY)

The Yen weakened against the US Dollar as a positive US Dollar trend caused the Yen to be less attractive to traders. The USD/JPY’s trend is positive above the 77.00 areas; the next resistance point on the daily chart lies at the 77.75 levels. When the pair breaches this level a long position will be preferred. Overall, the USD/JPY traded with a low of 77.08 and with a high of 77.84. Today, no economic news is expected to be published.

USD/JPY-Last: 77.48

Canadian dollar (CAD)

The Canadian Dollar fell for the second day versus the US Dollar as the Stock Markets dropped and led investors to stick with the US Dollar as a refuge. The disappointing economic data in Canada (published as the Employment Change) came out at -5.5k worse, than the expected 24.2k also supported the greenback. Holding above the support level of 0.9940 might push the pair back to parity. Overall, the USD/CAD traded with a low of 0.9867 and with a high of 0.9977.  Today, no economic news is expected to be published.

USD/CAD – Last: 0.9982