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Thursday, 22 April 2010 23:46

UFXBank Daily Review - April 22, 2010

Written by ForexCult Team
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USD Dollar (USD) – The Dollar traded with a mixed trend versus the majors. No clear direction seems across the board. NASDAQ and Dow Jones rose by 0.17% and 0.07% respectively. Crude oil plunged after the Inventories data showed an increase of 1.9M barrels, closing at 83.4$ a barrel. Gold (XAU) increased for another day closing at 1146$ an ounce. Today, PPI is expected at 0.4% vs. -0.6% previously. The Initial Jobless Claims is expected at 450K vs. 484K previously and the Existing Home Sales is expected at 5.3M vs. 5.02M previously.
EURO (EUR) – The Euro traded near a 2 week low against the Dollar on concern that the aid package for Greece will fail to stabilize the nation’s debt crisis. The main resistance of the pair is located at 1.3500, as long it trades below this level the momentum is bearish. Overall, EUR/USD traded with a low of 1.3357 and a high of 1.3446. Today, the French PMI is expected at 56.8 vs.56.5 previously. The German Manufacturing PMI is expected unchanged at 60.2. The Manufacturing PMI is expected at 56.8 vs. 56.6 previously.


EUR/USD – Last: 1.3380

Resistance 1.3440    1.3470    1.3510

Support 1.3370    1.3340    1.3280



EURUSD



British Pound (GBP) – The Pound gained versus the Dollar after Claimant Count Change showed -32.9k people claimed for unemployment related benefits vs. -6K expected. If the pair holds above 1.5380 the positive momentum will continue. Overall, GBP/USD traded with a low of 1.5330 and with a high of 1.5437. Today, Retail Sales are expected at 0.7% vs. 2.1% previously.

GBP/USD - Last: 1.5410



Resistance 1.5430    1.5460    1.5510

Support 1.5380    1.5340    1.5280



GBPUSD



Japanese Yen (JPY) – The Dollar weakened versus the Yen after Trade Balance data came out 0.67T better than 0.65T expected. If the pair holds below 93.4 levels it is likely to continue lower back to 92 areas. Overall, USD/JPY traded with a low of 92.92 and with a high of 93.43. No economic data expected today. 

USD/JPY-Last: 92.80



Resistance 93.40    93.80    94.20

Support 92.70    92.20    91.80



USDJPY



Canadian dollar (CAD) – The Canadian Dollar touched its strongest level against the US Dollar in 22 month reaching the 0.9930 level but ended the day almost unchanged near the parity level at 1. The Wholesale Sales came out -1.2% vs. expected 1.3%. In the near term more fluctuations around the 1 area are expected. Overall, USD/CAD traded with a low of 0.9928 and a high of 1.0014. Today, The Leading Indicators Index is expected unchanged at 0.8% and later a BOC Monetary Policy Report will be released.

USD/CAD - Last: 0.9968



Resistance 1.0005    1.0050    1.0130

Support 0.9955    0.9930



USDCAD
Last modified on Monday, 03 May 2010 23:48

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Interview with Matthew Sheppard

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1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

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