November 2, 2009 at 9:11 am
USD Dollar (USD)
The Dollar gained versus most majors as weak Personal Spending and stock declines continued to lower risk appetite. NASDAQ and Dow Jones fell by -2.50% and -2.51% accordingly. Crude dropped by -3.61% closing at 76.99$ a barrel and Gold (XAU) declined by -0.64% closing at 1039.70$ an ounce on stronger Dollar. Today, ISM Manufacturing PMI is expected with 53.1 versus 52.6 prior and Pending Home Sales are expected lower with 0.3% change versus 6.4% prior.
EURO (EUR)
The Euro declined versus the Dollar after more declines in stocks led to risk aversion. German Retail Sales came out worse than expected with -0.5% drop versus 0.7% expected showing the recession isn\’t necessarily over. European Unemployment Rate came out 9.7% as expected. EUR/USD traded with a low of 1.4703 and with a high of 1.4858. Today, Final Manufacturing PMI is expected to remain unchanged with 50.7.
EUR/USD – Last: 1.4765
|
Resistance
|
1.4785
|
1.482
|
1.486
|
|
Support
|
1.4645
|
1.4615
|
1.4565
|
British Pound (GBP)
The Pound weakened versus the Dollar as well as the other majors after Nationwide HPI gained by 0.4% weaker than 0.7% expected. Overall, GBP/USD traded with a low of 1.6407 and a high of 1.6579. Today, Manufacturing PMI is expected stronger with 50.1 versus 49.5 prior.
GBP/USD – Last: 1.6470
|
Resistance
|
1.65
|
1.6565
|
1.6605
|
|
Support
|
1.635
|
1.631
|
1.625
|
Japanese Yen (JPY)
The Yen gained versus the Dollar and other majors as risk aversion grew following weak economic data. Japanese Unemployment Rate came out 5.3% better than 5.6% expected. Overall, USD/JPY traded with a low of 89.91 and a high of 91.58 and EUR/JPY traded with a low of 132.30 and a high of 135.91. Today is Culture Day in Japan and banks will be closed.
USD/JPY-Last: 90.10
|
Resistance
|
90.3
|
90.6
|
90.85
|
|
Support
|
89.65
|
89.4
|
88.9
|
Canadian dollar (CAD)
The Canadian Dollar fell versus the Dollar after GDP showed contraction of 0.1% versus 0.1% gain expected and commodities prices dropped following stronger Dollar. Overall, USD/CAD traded with a low of 1.0652 and with a high of 1.0846. No major economic data expected today.
CAD/USD – Last: 1.0780
|
Resistance
|
1.093
|
1.0995
|
1.1075
|
|
Support
|
1.075
|
1.065
|
1.0585
|
Research by http://www.ufxbank.com
October 30, 2009 at 8:51 am
USD Dollar (USD)
The Dollar fell against most of its counterparts after better than expected GDP increased investor\’s appetite for risk. The Gross Domestic Product was released at 3.5% vs. the 3.1% expected. Initial Jobless Claims came out slightly worse than expected at 530K. After 4 straight days of drops Wall Street headed for a steep rise after the GDP showed that the U.S. economy expanded at a 3.5% annual pace in the 3Q and fueled stocks. Dow Jones jumped by 2.05% to 9,963 and the NASDAQ rose by 1.84%. Crude oil jumped by 3.19% closing at 79.93$ a barrel as the surprising US economy expansion signaled for a potential increase in oil demand. Gold (XAU) trades at $1,047. Today, Personal Spending is expected at -0.4% vs. 1.3% previously and Employment Cost Index is expected unchanged at 0.4%.
EURO (EUR)
The Euro continued towards its fourth monthly rise against the Dollar as the U.S.’s return to growth renewed optimism a global recovery will quicken, aiding demand for higher-yielding assets. German Unemployment Change came out better than expected at -26K vs. expected 15K. European markets rose more than 1%. Commodities recovered from previous losses and posted important gains. Overall, EUR/USD traded with a low of 1.4682 and with a high of 1.4857. Today, European CPI Index is expected at -0.1% vs. -0.3% previously.
EUR/USD – Last: 1.4830
|
Resistance
|
1.4880
|
1.4925
|
1.4970
|
|
Support
|
1.4770
|
1.4720
|
1.4680
|
British Pound (GBP)
The Pound climbed against the Dollar for a fourth day after reports showed U.K. mortgage approvals increased more than forecast last month and the U.S. returned to growth in the third quarter. Overall, GBP/USD traded with a low of 1.6337 and with a high of 1.6602. Today, Nationwide Housing Price Index is expected at 0.7% vs. 0.9% previously.
GBP/USD – Last: 1.6560
|
Resistance
|
1.6640
|
1.6700
|
1.6765
|
|
Support
|
1.6475
|
1.6410
|
1.6350
|
Japanese Yen (JPY)
The Japanese currency fell during the European session and continued its plunge after the release of a government report that showed Japan’s jobless rate unexpectedly dropped for a second month, reducing demand for the relative safety of the Japanese currency. Overall, USD/JPY traded with a low of 90.24 and with a high of 91.60. Today, The Bank of Japan (BOJ) Press Conference is expected. The interest rate is expected unchanged at 0.1%.
USD/JPY-Last: 91.30
|
Resistance
|
91.80
|
92.20
|
92.30
|
|
Support
|
91.05
|
90.83
|
90.50
|
Canadian dollar (CAD)
The Canadian Dollar climbed from a 3 week low against the Dollar as stocks and commodities rallied after the US GDP report showed the American economy grew in the third quarter for the first time in a year. Overall, USD/CAD traded with a low of 1.0654 and with a high of 1.0820. Today, Canada\’s The Gross Domestic Product (GDP) is expected at 0.1% vs. 0% previously.
USD/CAD – Last: 1.0670
|
Resistance
|
1.0750
|
1.0820
|
1.0865
|
|
Support
|
1.0630
|
1.0585
|
1.0545
|
Research by http://www.ufxbank.com
October 29, 2009 at 9:11 am
USD Dollar (USD)
The Dollar rose across the board. A rise in risk aversion following an unexpectedly drop in New Home Sales sent stocks lower worldwide. The Dow Jones fell for the 4th consecutive session and ended at 9,763.The Standard & Poor’s 500 Index dropped 2% on concern a rally in equities this year outpaced the prospects for economic growth. New-home sales unexpectedly fell last month to an annual rate of 402K, from a revised 417K pace in August. Crude oil fell from $79 a barrel to $77.20 on stronger Dollar. Gold (XAU) continues to move away from the highs of the year and fell to test levels below $1,030 an ounce. Today, The Gross Domestic Product (GDP) is expected at 3.1% vs. -0.7% previously. The Initial Jobless Claims are expected at 520K vs. 531K previously.
EURO (EUR)
The Euro kept weakening versus the Dollar for the 4th day in a row. The currency slumped against Dollar and Yen, reaching a 2 week low against both safe havens. The German Consumer Price Index (CPI) came out as expected at 0.1%. Overall, EUR/USD traded with a low of 1.4690 and with a high of 1.4840. Today, The German Unemployment Change is expected with 15K vs. -12K previously. The German Unemployment Rate is expected at 8.3% vs. 8.2% previously.
EUR/USD – Last: 1.4700
|
Resistance
|
1.48
|
1.4842
|
1.489
|
|
Support
|
1.471
|
1.4675
|
1.465
|
British Pound (GBP)
The Pound failed to hold above 1.6400 versus the Dollar finding support only at 1.6360 following economic data in the U.S and Dollar\’s strength. GBP/USD peaked at the highest price for the current week but it was unable to hold versus the strengthening Dollar. Overall, GBP/USD traded with a low of 1.6285 and with a high of 1.6466. Today, Net Lending to individuals is expected unchanged at 0.7B. The Mortgage Approvals also expected unchanged at 52K.
GBP/USD – Last: 1.6368
|
Resistance
|
1.651
|
1.6575
|
1.6640
|
|
Support
|
1.6355
|
1.6285
|
1.6240
|
Japanese Yen (JPY)
The Yen rose sharply versus most majors as weak economic data sent world stocks lower fueling risk aversion. The Yen reached the highest in 2 weeks against the Euro amid signs the global economic recovery is losing steam, damping demand for higher-yielding assets. Industrial Production came out 1.4%better than 1.1% expected. Overall, USD/JPY traded with a low of 90.54 and with a high of 91.80. Today, Household Spending is expected lower with 1.2% versus 2.6% and Tokyo Core CPI is expected with -2.0% versus -2.1% prior.
USD/JPY-Last: 90.42
|
Resistance
|
91.3
|
91.75
|
92.1
|
|
Support
|
90.5
|
90.1
|
89.9
|
Canadian dollar (CAD)
Canada’s currency depreciated against its U.S. counterpart to the lowest level in more than three weeks as declines in crude oil, the nation’s largest export, and stocks damped demand for higher-yielding assets. Overall, USDCAD traded with a low of 1.0636 and with a high of 1.0810. Today, The Raw Materials Price Index (RMPI) is expected at 1% vs. 3.7% previously.
CAD/USD – Last: 1.0790
|
Resistance
|
1.08
|
1.0855
|
1.0898
|
|
Support
|
1.068
|
1.063
|
1.0587
|
Research by http://www.ufxbank.com
