Tag: daily review
Daily Review
by SamIam on Oct.28, 2009, under Daily forex review
USD Dollar (USD)
The Dollar strengthen during yesterday trading session as Confidence among U.S. consumers unexpectedly fell in October for a second month. The Conference Board’s confidence index dropped to 47.7 from a revised 53.4 in September. NASDAQ decreased by 1.2% and Dow Jones slightly rose by 0.14%. Crude oil rose by 1% closing at 79.55$ a barrel after a volatile trading session as investors wait for the oil inventories today. Gold (XAU) weakened by 0.7% closed at 1035.4$ an ounce. Today, Core Durable Goods Orders are expected at 0.6% vs. -0.3% prior, New Home Sales are expected to rise from 429K to 443K.
EURO (EUR)
The Euro weakened versus the Dollar for the third day in a row on concern a rally in stocks and commodities can’t be sustained. M3 Money Supply came out worse than expected at 1.8% vs. 2.1% forecast. Overall, EUR/USD traded with a low of 1.4770 and with a high of 1.4926. Today, German Prelim CPI is expected at 0.1% vs.-0.4% previously.
EUR/USD – Last: 1.4811
|
Resistance |
1.4824 |
1.4927 |
1.5046 |
|
Support |
1.4770 |
|
|
British Pound (GBP)
The Pound strengthened against the Dollar after the Confederation of British Industry\’s distributive trade\’s survey reported sales balance rose to +8 in October from +3 in September, better than economists\’ forecasts of a rise to +5. This is the fastest pace of growth since December 2007. Overall, GBP/USD traded with a low of 1.6285 and with a high of 1.6438. No economic data expected today.
GBP/USD – Last: 1.6358
|
Resistance |
1.6438 |
1.6636 |
1.6693 |
|
Support |
1.6286 |
1.6250 |
|
Japanese Yen (JPY)
The Yen rose against the Dollar for the first time in 6 days as a plunge in Treasury yields after the record $44 billion auction in two-year notes made the Dollar less attractive to Japanese investors. USD/JPY traded with a low of 91.70 and with a high of 92.32. Retail sales came out at -1.4% vs. -1.5% forecast. No economic data expected today.
USD/JPY-Last: 91.18
|
Resistance |
91.57 |
92.19 |
92.32 |
|
Support |
90.77 |
90.48 |
|
Canadian dollar (CAD)
The Canadian Dollar appreciated from a three-week low, gaining for the first time in four days amid speculation its decline was too big to be sustained after it reached a key technical level. Overall, USDCAD traded with a low of 1.0626 and with a high of 1.0716. Today, BOC Gov Carney Speaks.
USD/CAD – Last: 1.0664
|
Resistance |
1.0696 |
1.0717 |
|
|
Support |
1.0630 |
1.0500 |
1.0450 |
Research by http://www.ufxbank.com
