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UFXBank Daily Review - January 27, 2010

Written by ForexCult Team
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Daily Review 27/01/2010 

USD Dollar (USD) – The Dollar rose across the board with the exception of the Yen. Worries about the economic recovery pushed the demand for safe assets, despite an increase in consumer confidence that came out 55.9 better than expected 53.5. Wall Street finished almost unchanged. Dow Jones lost -0.03% and the NASDAQ fell -0.32% as better-than-expected data on consumer confidence was not enough for investors. Crude oil is back below $75 a barrel. Gold (XAU) trades near $1,100 an ounce.  Investors today are waiting for the rate decision which is expected to stay at 0.25% and new home sales.
EURO (EUR) – The Dollar advanced versus the Euro. The German IFO Climate Index came out 95.8 better than expected 95 but it did not help the Euro to gain eventually. If the pair still holds above the 1.4030 level rebound to 1.42 could be seen. Overall, EUR/USD traded with a low of 1.4042 and with a high of 1.4178. Today, the German CPI is expected at -0.2% vs. 0.8% previously.
EUR/USD – Last: 1.4070

Resistance
    1.4135    1.418    1.422
Support    1.403    1.4    1.396

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British Pound (GBP) &ndash