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UFXBank Daily Review - February 22, 2010

Written by ForexCult Team
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Daily Review 22/2/2010

USD Dollar (USD) – The Dollar has finished lower versus most majors after comments from Fed officials who said the change in the lending rate doesn't signal any change in the outlook for the economy or for monetary policy. CPI came out weaker with 0.2% versus 0.3% forecast, disappointing investors. NASDAQ and Dow Jones gained by 0.1% and 0.09% respectively as the Dollar weakened, finishing the week with their fourth straight gain. Crude Oil gained by 1.2% closing at 80.14$ a barrel. Gold (XAU) gained by 1.6% closing at 1,118.7$ an ounce. No economic data expected today.

EURO (EUR) –The Euro gained versus the Dollar after weak CPI figures in the U.S and comments from Fed officials about the key interest rate. Manufacturing and Services PMI data came out mixed. Overall, EUR/USD traded with a low of 1.3454 and a high of 1.3618. EUR/USD has started correcting upwards after being oversold according to the RSI indicator and not being able to cross below 1.3450. EUR/USD is facing resistance levels at 1.3650 and 1.38 and the main trend continues to be downwards. No economic data expected today.  
EUR/USD - Last:  1.3615

Resistance    1.3655    1.37    1.379
Support    1.352    1.344    1.332

British Pound (GBP) &ndash

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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.

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Because of our high presence on the web, most of our business comes from the online world.

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