UFXBank Daily Review - February 15, 2010

Written by ForexCult Team
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Daily Review 15/02/2010

USD Dollar (USD) – The Dollar posted small gains against most of the majors after Retail Sales data came out 0.5% better than expected 0.4% but eased part of the gains after The Michigan Consumer Sentiment Index came out 73.7 worse than expected 74.8. Walls Street closed mixed with NASDAQ advancing 0.28% and the Dow Jones lost -0.44%. Crude oil fell and closed at 74.2$ a barrel, Gold (XAU) almost unchanged closed at 1092.8$ an ounce. Today, US banks will be closed in observance of President's Day.
EURO (EUR) – The Euro fell against the Dollar, extending the decline. The pair posted a new 8-month low at 1.3528, but then managed to rise and hold above 1.3600. The Euro is still under pressure across the board as fiscal problems continue to weight in Europe. The German GDP came out 0% worse than expected 0.1%. Holding the Euro below the 1.3840 level probably continue the downtrend. Overall, EUR/USD traded with a low of 1.3530 and with a high of 1.3694. Today, The Italian Trade Balance index is expected at -0.75B vs. -0.79B previously.
EUR/USD – Last: 1.3613

Resistance 1.3675 1.3735 1.38
Support 1.355 1.35 1.345

British Pound (GBP)