UFXMarkets Weekly Forex Currency Trading News 31-January-2013

The US Dollar traded mixed versus the major currencies after the ADP Non-Farm Employment Change showed on improvement as it came out 192k vs. 164k expected. The Dow Jones fell by 0.53%, The S&P declined by 0.70% and the NASDAQ lost 0.36% from its value. Today, the Unemployment Claims are expected at 362k vs. 330k previously and the Chicago PMI is expected at 51.1 vs. 51.6 previously.
Gold gained by 0.70%, closing at $1,667 an ounce, and Crude Oil climbed to a four-month high.
The Euro climbed to a fresh high level since Nov. 2011 after the FED decided to maintain the securities buying program in order to support the U.S economy growth. On the daily chart, the pair is still trading in an upward trend channel. This will remain as long as the pair trades above the 1.3530 support level. Today, the German Retail Sales are expected to come out at 0.1% vs. 1.2% previously.
The Cable gained versus the US Dollar for the second day on overall greenback weakness. The GBP/USD is bullish above the 1.5770 support level, and the pair could test its resistance level of 1.5880. Today, Nationwide HPI is expected at 0.3% vs. -0.1% previously.

UFXMarkets Weekly Forex Currency Trading News 30 -January-2013

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The US Dollar fell versus most majors as investors pared bets the Federal Reserve will signal a change to its asset-buying program at the end of a two-day meeting today. Wall Street closed the trading day in the green sending the Dow Jones Industrial Average to five-year high, as reported earnings that beat estimates. The S&P gained by 0.51%, NASDAQ closed unchanged while Dow Jones added 0.52% to its value. Today, ADP Non-Farm Employment Change is expected with 164K vs. 215K previously, Advance GDP is expected to grow by 1.1% vs. 3.1% previously,
Gold (XAU) rose by 0.50%, closing at $1,663 an ounce. Crude Oil climbed to a four-month high, to close at $97.35 a barrel.
The Euro climbed to a 14-month peak versus the Dollar as an improving euro zone outlook and expectations the Federal Reserve will keep its ultra-easy monetary policy for some time. The bullish trend remains as long as the pair is trading above the 1.3430 support level. If it breaches the resistance level of 1.3510, it may test the next strong resistance level of $1.3680.
The Cable gained versus the dollar Continue reading

UFXMarkets Weekly Forex Currency Trading News 29-January-2013

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The US Dollar gained versus most majors due to increasing optimism that the recovery in the world’s largest economy was gaining traction. Wall Street was little changed at the end of the trading day as a drop in pending home sales offset a rise in durable goods orders while investors watched earnings. The S&P fell by 0.10%, NASDAQ strengthened by 0.15% while Dow Jones lost -0.09% from its value. Today, CB Consumer Confidence is expected with 64.8 vs. 65.1 previously.

Gold (XAU) fell by 0.20% due to easing pressure on central banks to announce more stimulus measures, closing at $1,655 an ounce. Crude Oil climbed to a four-month high, closing at 96.50$ a barrel.

The Euro fell versus the Dollar after reaching its strongest level in almost 11 months. Technically, the pair is still on upward trend channel according to the daily chart. The bullish trend remains as long as it is trading above the 1.3380 support level. Today, German Consumer Climate is expected with 5.8 vs. 5.6 previously.

The Cable fell to the lowest level since last August versus the dollar Continue reading

UFXMarkets Weekly Forex Currency Trading News 27-January-2013

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The Japanese Yen fell against the US Dollar in the longest losing weekly streak ever recorded amid signs from the Bank of Japan that the currency will continue to fall. The Japanese Yen fell for the 11th straight week after Deputy Economy Minister Yasutoshi Nishimura said that the downward slide is not yet over.
The Japanese Yen was last trading at 90.86, which is an increase of 0.60%.
The Euro climbed to an 11-month high against the US Dollar after the European Central Bank exceeded expectations by announcing that 278 banks will pay back 137.2 billion Euros in three-year loans next week.
The Euro was last trading at 1.3462, which is an increase of 0.65%.
The Pound also fell against the US Dollar last week, dropping to its lowest level in over a year, in response to data showing that the UK economy shrank more than had been expected in the fourth quarter.
The Pound was last trading at 1.5801, which is an increase of 0.08%.
In commodities news, Gold futures fell to a two-week low amid heightened optimism Continue reading