.
NEW YORK
18:13
LONDON
23:13
PARIS
00:13
FRANKFURT
00:13
HONG KONG
05:13
TOKYO
07:13
SYDNEY
08:13
contacts about Trade Now
home forex brokers news articles rates & charts
Article » Forex Daily News: July 26, 2010 - Dollar Finishes on Mixed Trend
Forex Daily News: July 26, 2010 - Dollar Finishes on Mixed Trend
Jul 26 2010, 02:50




USD Dollar (USD) – The Dollar finished last week with a mixed trend against the majors as investors ignored fundamental guidance, which puts pressure on the greenback, in favor of waiting for the bigger picture to become clearer. Economic data and earnings for the past week were unpleasing, but as risk factors around the world grow, speculations on the currency’s trend grow as well. NASDAQ and Dow Jones rose by 1.05% and 0.99% respectively, crude oil declined by 0.48% closing at 78.84$ a barrel, Gold (XAU) declined by 0.48% as well, closing  at 1188.85$ an ounce. Today, New home Sales data is expected at 317K vs. 300K previous.



EURO (EUR) – The Euro strengthened slightly versus the Dollar and most majors in Forex Trading, approaching monthly highs again as EU stress tests showed relative stability and resistance of the banking system. Together with better than expected economic data coming out, investors regain confidence in Europe’s chances to avoid a double dip recession after all. German ifo Business Climate came out at 106.2 vs. 101.5 expected. The main resistance of the EUR/USD on the daily chart is 1.3030, and the daily trend remains up. A break above this resistance will indicate its continuation. The main support is located around 1.2700. Overall, EUR/USD traded with a low of 1.2792 and with a high of 1.2964. No economic data is due for today on the Euro. EUR/USD – Last: 1.2927



British Pound (GBP) – The Pound rose against the Dollar and all majors after the Prelim GDP came out bigger than expected at 1.1% vs. 0.6% alongside encouraging sentiment from the EU region giving tailwind. The trend for the GBP/USD remains bullish, with the next resistance ahead at 1.55 levels. Breaking those levels up will be the trend’s real test this week. Until technical signs of reversal downwards appear, the momentum is positive, as it has been for weeks. Overall, GBP/USD traded with a low of 1.5250 and with a high of 1.5447. No important economic data is expected today for the Pound. GBP/USD - Last: 1.5458



Japanese Yen (JPY) –The Yen weakened versus majors after speculation among investors that the BoJ will ease monetary policy rises, and as risk appetite grows around the world. Trade Balance came out at 0.46T vs. 0.54T expected. The daily trend of the pair remains bearish, with a support at 86.25. The pair has been trading close to record a low price, which makes one look out for a possible break down. Overall, USD/JPY traded with a low of 86.71 and with a high of 87.49. No more economic data is expected today. USD/JPY-Last: 87.62



Canadian dollar (CAD) – The Canadian Dollar rallied against most currencies as Canadian overnight interest rates rose to 0.75% last week, making Canada the first G-7 country to raise its rates in June. Policy makers stated they expect Canada’s economic activity to return to full capacity by the end of next year. The pairs key support levels are located around 1.0350 levels on the hourly chart, and current price levels are facing 200- day SMA support. Overall, USD/CAD traded with a low of 1.0345 and with a high of 1.0437. no economic data is expected for today. USD/CAD - Last: 1.0367


| 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
Aug 12 2007, 07:54 - 0 Comments
Apr 15 2007, 00:06 - 0 Comments
Feb 22 2010, 04:50 - 0 Comments
Apr 18 2010, 02:41 - 0 Comments
Jun 08 2010, 04:15 - 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