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Thread: Daily market update

  1. #91


    The dollar resumed its rally against majors with the improvement seen in the United States after the better-than-estimated jobless claims and housing data released this week and rising tension between South and North Korea.

    The escalation between the two Koreas enhanced demand on refuge assets such as dollar, yen and Swiss franc. Also, the shaky fiscal situation in the euro zone is raising concerns and reducing investors' risk appetite.

  2. #92



    The Euro keeps falling today under the influence of Euro countries debt fears. European currency lost more than 100 pips and remains to follow its downtrend. Currently 1.300 is a psychological area for the Eur/Usd.

    The USD/JPY is moving lower and reached the support level of 83.75 and thanks to its support currently the pair is trading around 83.87.

    The debt problems of some European countries as Spain and Portugal are very serious. The oil prices dropped on expectations that the EU and the IMF might have to provide a bailout for these countries too.

    The CPI (Consumer Price Index) for November has not changed according to the preliminary figures released today by the Eurostat. The actual value is %1.9.

  3. #93


    01 Dec 2010 -The Euro fell to fresh 11-week lows against the dollar over concerns that the debt crisis will also spread to Portugal. Holding below resistance at 1.3050 keeps the momentum negative for the pair. Overall, EUR/USD traded with a low of 1.2975 and a high of 1.3150.

  4. #94



    After the President of European Central Bank (EC has not announced any concrete points regarding government bonds purchasing, the EUR/USD dropped to the session low. Currently the pair is trading next to 1.3111 and it's necessary to wait for a confirmation signal (resistance or support level).

    Today the British pound shows a strongly downside orientation. The GBP/USD reached its daily low level and lost more 130 pips.

    After soft US job figures the base metals started to shift from its morning high levels to the lower positions.

    According the ECB decision, the interest rates will not change.

  5. #95



    During the European session today the Euro recovers on expectations of government bonds purchasing. According to market talks the European Central Bank is going to buy Portuguese and Irish government bonds. Due to these talks, the Eur/Usd rose above 1.3252. Also this tendency has been supported by stable figures of Eurozone such as PMI and retail sales which increased.

    This entire situation with European countries debts raised market expectations in a high oil demand that's why the oil prices skyrockets today and fixed around the record level of $88 per a barrel.

    Also the gold demonstrates a strong upward trend generated by US inflation anxiety and all other factors dominated the world markets.

    The GBP rebounds and moves higher today. Currently the GBP/USD pair tries to test and break its week high at 1.5665. If this level is passed, the pair will find the resistance at 1.5770.

  6. #96



    After Ben Bernanke speech, the dollar was up on the world markets. The FED president confirmed that the Federal Reserve is prepared to take all necessary measures to avert the recession.

    Under the pressure of debts situation with some euro zone countries, the EUR/USD is down again and keeps its bearish trend. Currently the pair is trading near 1.3260.

    The US economy recovery problems, European countries debts: all these factors raise investors attentions toward safe-haven assets as the gold. Today the gold prices increased and reached a new high.

    The USD/JPY remains in general downside trend and currently is trading below 83.00.

  7. #97



    Due to the Barack Obama proposal on cutting the taxes for the citizens, the US stocks were trading higher today in the morning. Investors liked the idea and the prices of oil, gold and commodities rose on the markets.

    But never the less the dollar was lower today against the competitors because all market participants are expecting the Irish Budget approval which can clear up the situation to take further decisions.

    The Eur/Usd is on its way toward the new resistance 1.3447, if the pair breaks this level it would be a confirmation for the next highs.
    After the yesterday's loses the British pound demonstrates strength today based on the positive manufacturing figures in UK. Currently the USD/GBP is trading around 1.5800 area.

  8. #98



    The Asian markets were in a state of uncertainty today. Because of the weak Yen the Japanese stocks rebound.

    The USD/JPY consolidates and recoups its losses. The pair is aiming to reach the session high at 84.00.

    The European markets opened lower today based on sovereign debts problems predominated over other issues.

    The Oil falls and reaches record lows because of markets fears about European debts. The worries regarding Europe's economy situation are still very powerful.

    The US dollar grew against its main rivals after Barack Obama decided to prolong tax cuts policy. The base metals rose on this event on expectations that this tax cuts measures will create a demand for the metals.

  9. #99



    The government of Japan has announced that Japanese economy remains the second biggest world economy after the US.

    The Euro consolidates against the US dollar and recovers from its low levels of this week. Currently the Eur/Usd is trading near 1.3300 area.

    During Asian session British pound rebounds and goes back to levels above 1.5800. But currently GBP/USD has a bearish trend and it's necessary to watch the support level for further decisions.

    After reaching the high level at 84.40, the USD/JPY returned and was fixing below 84.00.

  10. #100



    Thanks to the upbeat US trade balance data, the USD rose across the trading sessions today. The US trade managed to reduce.
    Pressed by positive US trade figures, the Eur/Usd fell to the session lows. Currently the pair is trading next to1.3220 area. If the pair would drop more, the support will lie at 1.3165 and 1.3000. Otherwise the pair will go toward its resistance level above 1.3280 which is a session high.

    The USD/JPY has been boosted by US trade figures and reached a new daily high level (83.94). Now the pair will be faced with resistance above 84.40.

    As all US dollar rivals the GBP dropped today against the dollar. Therefore the pound lost its positions and was returning to the levels of the morning.

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