Daily market update
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  1. #61



    The Chinese Yuan keeps being strong. The US authorities will start the strong pressure on China regarding the Chinese exchange rate terms. During this weekend it was a meeting of the International Monetary Fund.

    Today the Gold contracts were a little lower because of the USD growth against the EURO. But nevertheless the Gold remains being one of the most interesting and perspective assets for investors.

    The crude oil contracts traded next to the level of $83. This level has been reached during the European session today.

    Today it’s a holiday in the US and there is no big volatility on market due to this fact all traders are waiting for the new economic data over this week.

    The GBP/USD does not show any direction and remains to be at the same level at the moment.

  2. #62



    The YEN continues to consolidate and today during the Asian session the USD/JPY and the EURO/JPY dropped and reached new low levels.

    The finance minister of Japan declares that Japanese government will take all necessary measures on the yen’s growth and that the authorities will observe market very carefully.

    The oil contracts continue to move down because of the little USD recovery against its principal currency-competitors.

    The gold lost his positions and traded back around the area of $1350.

    After the US holiday yesterday market expects sales today. Currently the EURO is above 1.3800 against the USD. If this zone would be declined by the pair during the day it will be a signal of pair’s moving toward the level of 1.3680 and below.

  3. #63



    The Yuan continues to rise. The Chinese currency increases considerably during the last 6 weeks.

    Today it was a first time in last days when the yen dropped against the euro and the dollar because due to the current market situation investors are willing to buy the risk currency.

    The USD decreased against the EURO during the Asian session today according to the information that the US Federal Reserve will continue to use the quantitative easing by buying governments securities.

    Also the pair GBP/USD regains on the weak dollar after Federal Reserve comments and during the European session hours the pair reaches the session high. Therefore GBP/USD recovers a little after the yesterday’s downside.

    On Tuesday the crude oil contracts were traded at low values. But today the prices consolidate and reach the area of $82.

  4. #64



    The USD dropped against the YEN at 15-year low level on expectations regarding the FED purpose to continue the quantitative easing.

    Also because of these expectations of new quantitative easing series which will proceed by FED, the dollar fell against the Euro and GBP.

    The oil traded higher today, the contracts were pushed up by the weak USD.

    Also the yellow metal is under the FOMC influence and the gold jumped at a new high on the FOMC comments which gave a new wave of fear about the inflation.

  5. #65



    During the Asian session today the Euro /USD moves to lower level after Thursday’s high but on European trade the pair regains and remains near the area of 1.4100.

    The speech of Ben Bernanke (The Federal Reserve Chairman) regarding the monetary policy needs to confirm that the Fed will continue to buy treasuries to prop up the economy. Therefore the dollar is starting to fall and now all traders are waiting for confirmation from the FED.

    Also the USD dropped against the JPY in spite of the fact that Japanese minister of finance confirmed the possibility of a new intervention into the market and announced that the government was ready to take all necessary measures.

  6. #66



    After the comments of Jean-Claude Trichet (the President of European Central Bank) who spoke about the economy perspective and monetary policy, the USD recovered against the Euro due to the fact that Jen-Claude Trichet approved of the government bonds acquisition by Central Bank. The Central Bank is willing to buy bonds from some weak euro-zone countries.

    During the Asian session the oil contracts were lower because of the little USD recovery. Therefore the oil futures were quoted $0.50 less before European session has been started.

    Also as a reaction on the US dollar recovery, today the main metals quoted on downside especially during the first sessions. And market is waiting for the upcoming economic data to choose the direction.

  7. #67



    The USD strengthens during the European session after the Monday’s comments from the US Treasury Secretary (Timothy Geithner) who declared that the US dollar will not be devalued.

    The dollar consolidation strength will depend on the USD capability to manage to keep the last days benefits. Due to this correction everybody on market should look forward to get the confirmation signals. By the way this US dollar’s correction is the strongest one during the past months.

    The Japanese finance minister supposes that the main world’s leaders should join efforts and cooperate together on economic recovery and exchange rates stabilization.

    While the USD regains slightly against its main competitors the oil and gold feel this influence and traded at lower levels.

  8. #68


    20 Oct 2010

    USD is looking strong. USD is trading up side. It is strong today against major currencies.

  9. #69



    The Euro/Usd regains and starts to renew its uptrend.

    The prices of the oil contracts increased today.

    Because of the Chinese rate which has been increased increased the gold traded at higher levels today during the European session.

    Yesterday the USD rose slightly against the Yen but then the pair was not be able to fix its gains and today it moves to the low levels again.

  10. #70



    The Eur/Usd strengthens and remains to become stronger day by day and breaks through Wednesday’s low. Today the pair is testing the new area of 1.4000. Also the Euro skyrockets against the GBP in European trading.

    After the euro consolidation against the dollar on the positive Eurozone Manufacturing figures, the gold contracts traded at higher levels.

    Today the optimistic labor data were released in US: the Initial Jobless Claims decreased. And according to the definition of this economic indicator, the present value can be considered as a bullish for the USD.

    After the US labor market data have been appeared on market, the USD regained against the JPY. And now the USD/JPY reaches the level of 81.20.

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Daily market update