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UFXBank Daily Review - April 15, 2010

Written by ForexCult Team
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Daily Review 15/04/2010  

USD Dollar (USD) – The Dollar fell against most majors as a bigger-than-expected increase in U.S. retail sales last month spurred demand for riskier assets, came out at 1.6% vs. 1.1% forecast. In addition, Federal Reserve Ben Bernanke said the U.S. expansion will remain moderate as the economy contends with weak construction spending and high unemployment. NASDAQ and Dow Jones strengthened by 1.58% and 0.94% respectively, crude oil jumped by 2.3% closing at 86$ a barrel, Gold(XAU) increased by 0.5% closing at  1159.6$ an ounce the strongest levels since Decembers. Today, Unemployment Claims are expected to weak from 460K to 439K, TIC Long-Term Purchases are expected to rise from 19.1B to 39.2B, Philly Fed Manufacturing Index is expected at 19.8 vs. 18.9 prior.

EURO (EUR) –
The Euro rose against the Dollar after good data which released during the day in the euro zone and in the US succeed to increase the stocks market and higher risky currencies. The main resistance on the one hour chart is located at 1.3700 if this level breaks up a long positions is preferred. Overall, EUR/USD traded with a low of 1.3594 and with a high of 1.3679.Today, ECB Monthly Bulletin.
EUR/USD –
Last: 1.3645

Resistance    1.3695        
Support    1.3545    1.3500    1.3380

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British Pound (GBP) –