- 
- 
- 
Welcome,
Guest!
TechnicalCentral BanksForex Brokers
Trading Tools |
CURRENCY TRADING SUMMARY
2
votes
U.S. Dollar Trading (USD) found strength against the Euro and JPY but lost ground against most other currencies which rebounded with improving market sentiment and rebound in commodity demand. US Construction Spending dropped by less than expected at -0.6% in November. In U.S. share markets, the NASDAQ was down 5 points (-0.26%) and the Dow Jones was down -81 points (-0.91%). Crude Oil closed up $2.47 ending the New York session at $48.81 per barrel. Looking ahead, November Durable Goods are forecast at -1% and December Non-manufacturing is expected to drop to 37 vs. 37.3 previously. Also of interest, FOMC Minutes from the December meeting released.
The Euro (EUR) fell heavily as resistance at 1.3800 gave way and some negative news emerged. ECB Member’s Constancio and Papademos both indicated that they supported cutting rates if inflation continues to drop. Overall the EUR/USD traded with a low of 1.3547 and a high of 1.3963 before closing the day at 1.3620. Looking ahead, December German PMI is forecast at 46.4 vs. 45.1 previously and Euro Zone is seen at 42 vs. 42.5. The Japanese Yen (JPY) continued to test the upside losing value against all crosses as more risk taking entered the market and investors flooded back to high yielding currencies. AUD/JPY and CAD/JPY were major improvers overnight. Overall the USDJPY traded with a low of 91.82 and a high of 93.58 before closing the day around 93.30 in the New York session. The Sterling (GBP) gained against the USD as support below 1.45 and then tracked Oil as it rallied in New York. The Crosses supported with large gains in GBP/JPY and heavy EUR/GBP selling the main contributors. The market is looking to Thursday’s BoE meeting as the next major market event for the pound. Overall the GDP/USD traded with a low of 1.4430 and a high of 1.4738 before closing the day at 1.4675 in the New York session. Looking ahead, December Services PMI are forecast at 39 vs. 40.1 previously and December Inflation is expected at 1.8% vs. 2.1% previously. The Australian Dollar (AUD) continued to be well supported as commodities rallied and investors searched for Yield. AUD/JPY was very well supported and made new 2 month highs. Overall the AUD/USD traded with a low of 0.7064 and a high of 0.7205 before closing the US session at 0.7150. Gold (XAU) dropped lower as it tracked the EURO ignoring gains in Oil. USD weakness was a major factor in Gold’s recent rally and this has evaporated in recent weeks. Overall trading with a low of USD$845 and high of USD$884 before ending the New York session at USD$855 an ounce. Next Analysis:
Content Provided by:
Easy Forex
Easy-Forex™ Trading Platform, founded by a group of bankers, Forex and Internet experts, offers Forex traders direct access to the global currency markets. Easy-Forex™ revolutionary Online FX trading platform is the first online FX trading system allowing clients to deal Forex as a ...
Disclaimer:
The information and data entailed in this website or otherwise made accessible to you on this website are provided to Easy-Forex™ by a third party provider. Such information and/or data are made accessible for informative purposes only and they can under no circumstances be considered as a recommendation to you by Easy-Forex™ or any Easy-Forex™ personnel to engage in any trade. Hence, neither Easy-Forex™ nor any of its personnel can under any circumstances be held responsible for any outcome of trading decisions or trades in regard to any of such information and/or data. You hereby acknowledge that accessing and reviewing any of such information and/or data and/or using any of the information entailed in this website or otherwise made accessible to you on this website is your sole responsibility and at your own risk and you will have no claims with regards to any such information and/or data against Easy-Forex™ or any of its personnel. If you are unable to agree to this, you should not access and/or make use of any such information and/or data. Easy-Forex™ endorses responsible and moderate trading. Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone and we would like to recommend you not to risk any money, you cannot afford to lose. The transaction of such financial instruments known as Forex, fx, or currency, and dealt on a valued basis known as 'spot' or 'forward', 'day trading' and 'option', can contain a substantial degree of risk. Before deciding to undertake such transactions with Easy-Forex™, and indeed, any other firm offering similar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. Easy-Forex™ strongly recommends that a user, who is considering trading foreign exchange products, read through all the main topics contained in the Easy-Forex™ website so that he/she may obtain a clear and accurate understanding of the risks inherent to ‘forex’ trading. Opinions and analysis on potential expected market movements contained within the Easy-Forex™ website are not to be considered necessarily precise or timely, and due to the public nature of the Internet, Easy-Forex™ cannot at any time guarantee the accuracy of such information. Information provided on this website is intended solely for informational purposes and is obtained from sources believed to be reliable and accurate. Information is in no way guaranteed. Easy-Forex™ and the Easy-Forex™ logo are trademarks and/or registered trademarks of Easy-Forex™ in the United States and/or other countries.  Related Products  Price: $ 49.95 Overview Adaptation is the name of the game in long term trading success. Join Fernando Gonzalez ...
 Price: $ 49.95 Overview This course is more than simple rules, this class explores and shows you how to ...
|
|
||
|
||
Which is more important for you on our site: |
||
 |
||
|
