.
NEW YORK
02:33
LONDON
07:33
PARIS
08:33
FRANKFURT
08:33
HONG KONG
14:33
TOKYO
16:33
SYDNEY
18:33
contacts about Trade Now
home forex brokers news articles rates & charts
Article » UFXBank Daily Review - January 12, 2010
UFXBank Daily Review - January 12, 2010
Jan 12 2010, 03:57


Daily Review 12/01/2010 



USD Dollar (USD) – The Dollar remained weak against most currencies, as a risk appetite has been triggered and signs of a global economic recovery boosted demand for higher-yielding and commodity linked currencies. Wall Street finished mixed as Dow Jones rose by 0.43% and NASDAQ depreciated by -0.21%. Crude oil rose to new high during the session but then dropped and closed with -0.62% change at 82$ a barrel. Gold (XAU) soared and closed at 1150.7$ an ounce. Today, The Trade Balance index is expected at -34.5B vs. -32.9B previously.





EURO (EUR) – The Dollar traded at almost a 3 week low against the Euro on increased speculation that the Federal Reserve will maintain its policy of keeping interest rates at their record lows as the U.S. labor market remains weak. The French Industrial Production came out 1.1% better than 0.4% expected. EUR/USD has been struggling to remain above 1.45 and has a major resistance at 1.47 as the 50 and 100 moving day averages collide. As long as it holds above 1.4480 the Euro remains bullish. Overall, EUR/USD traded with a low of 1.4401 and with a high of 1.4555. Today, no economic data expected.





EUR/USD – Last: 1.4505



Resistance    1.456    1.459    1.463

Support    1.448    1.444    1.4415



EURUSD





 British Pound (GBP) – The Pound gained slightly versus the Dollar as stocks advanced on signs the global economic recovery is gathering momentum. RICS House Price Balance came out weaker than expected with 30%. GBP/USD is struggling to remain above its 200 day moving average and along with a break above 1.6240 could send the pair to a rally. If unsuccessful the Pound is expected to turn back down and test the 1.59 support again. Overall, GBP/USD traded with a low of 1.5995 and a high of 1.6192. Today, the Trade Balance index is expected at -7B vs. -7.1B previously.





GBP/USD - Last: 1.6095



Resistance   
1.618    1.6225    1.625

Support    1.607    1.6035    1.5985



GBPUSD



Japanese Yen (JPY) – The Dollar declined against the Yen but found support at 91.8.Current Account came out stronger with 1.3T versus 1.22T expected, but M2 Money Stock came out weaker with 3.1% versus 3.3% prior. USD/JPY will try to hold above the 91.8 support level and if successful could bounce back to 93. The USD/JPY is trading in a narrow range and traders are waiting for a trigger to set the movement. Overall, USD/JPY traded with a low of 91.80 and a high of 92.67. No economic data expected today.

USD/JPY-Last: 92.2



Resistance    92.4    92.7    93.1

Support    91.8    91.5    91.25



JPYUSD



Canadian dollar (CAD) – The Canadian Dollar fell versus the Dollar after the pair has found support at the 1.0250 level. Crude oil, the nation’s biggest export, retreated from a 15-month high. The Housing Starts came out 175K better than 160K expected. Building Permits came out -4.6% worse than -1% expected. On the technical view, if the 1.0250 level sustains a rebound to 1.04 could be seen. Overall, USD/CAD traded with a low of 1.0253 and with a high of 1.0342. Today, the Trade Balance index is expected at 0.9B vs. 0.4B previously.





USD/CAD - Last: 1.0340   



Resistance    1.0385    1.041    1.045

Support    1.0285    1.025    1.0205



 



CADUSD


| More


Broker
of the Month

UFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease. By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.

    

Comments & Responses
Word Above:
Name:
Comment:
 

Related Article
Jan 18 2010, 04:03 - 0 Comments
Jan 19 2010, 04:29 - 0 Comments
Jan 20 2010, 04:33 - 0 Comments
Jan 21 2010, 04:46 - 0 Comments
UFXBank Daily Review - January 25, 2010
Jan 25 2010, 04:10 - 0 Comments

    
Currency converter
Amount:  
  


Interview
with Matthew Sheppard
Senior Forex
Advisor at XForex


1. What is your name and position?
Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?
In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?
We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?
Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?
Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..
Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?
My advice to the beginning trader entering the Forex world is as follows:
• Learn the market and understand what you’re getting into.
• Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
• Invest smartly and calculate your risks
• Always know when to get out of a trade

read more forex interviews



Home  |   RSS Feed  |   Terms of Use  |   Privacy Policy  |   Advertise