Market review for 18.04.12:The British economy statistical reports provided significant support for the British currency.

Forex Metal Daily Newsletter Send to a Friend |  Visit our website |  Unsubscribe  Thursday, 19 Apr 2012 Daily review for 18.04, 2012   The British economy statistical reports provided significant support for the British currency.     Asian and European trading sessions:     US Dollar: The demand for the U.S. dollar was limited today amid published yesterday information which was provided by the International Monetary Fund that raised its forecast for global economic growth. The forecast was raised to 3.5 percent compared previous presented in January 2012 which predicted that the world economic growth in 2012 will be 3.3 percent. Also, the forecast of 2013 was raised from 4.0 to 4.1 percent. British Pound: Before the publication of the bunch of macroeconomic statistics and, the GBP / USD pair was traded in a narrow range between $ 1.5916 -$ 1.5941 levels. The published statistics provided substantial support to the pound's trading dynamics. In details, the result  as a the protocol of last meeting of the Bank of England which was dedicated to monetary policy showed that the likelihood of further stimulating the economy has decreased ly. Also, the support for the British pound had a report of labor market, which suddenly recorded better than expected results, the Claimant Count rate in March fell to 4.9 % from 5%, 0% and the unemployment rate of February dropped to 8.3 % from 8.4 %.  The GBP / USD reacted positively rocketing into the region of $ 1.5990 where it remained traded and consolidated for the next move towards $ 1.6000 level.     Japanese Yen: The USD / JPY rose during the Asian trading pair rose to Y81.42 on the background of growing Asian stock markets in anticipation of the publication of data on the labor market in the U.S. The pair continued its uptrend through the European session s well moving to the level of Y81, 50.       American trading session:   Euro: The reason that Euro fell against its competitors was the increase of the Spanish and Italian governments' bonds yields. Thus, the yield of 10- year bond of Spain went to 5.87% against the previous 5.71% and the yield of 10 -year bonds of Italy to 5.52% against of earlier 5.40%. Moreover the pressure on the Euro currency had the fact that Italy's economy growth, the forecasts of which were revised today, showed the growth in 2012 will decrease by 1.2% against the previous estimate of -0.5%. As for 2013 year forecasts, the economic growth might be increased by 0.5 % against the previous forecast of 0.3 %. Oil: The Oil prices declined today after the publication of report of the U.S. Department of Energy on U.S. Crude Oil Inventories according to which the increase of amount of this raw material in inventories jumped for more than two times higher than expected. May futures of WTI fell to 102.26 dollars per barrel on NYMEX. Gold: The Gold futures on the COMEX fell today to $ 1637.71 per ounce towards the lows of the previous day.       ___________________________________________________________________    TECHNICAL ANALYSIS  for 19.04, 2012   EURUSD The pair has drawn Double Top. If the pair breaks the figure's neckline 1.30277 the pair will decline first to 1.28630. Resistance:  1.31674, 1.33143, 1.34882 Support:  1.30277, 1.28630, 1.26897 GBPUSD The pair has risen to 1.60322. Resistance:  1.60322, 1.62050, 1.63316 Support:  1.58543, 1.56722, 1.54842 USDCHF The pair is aiming to 0.92026.  Resistance:  0.92026, 0.93069, 0.93949 Support:  0.91079, 0.89635, 0.88418 USDJPY The pair is testing the Moving Average (500) at 81.399. Once this level is broken the pair will rise to 82.219. Resistance: 81.399, 82.219, 83.065 Support:  80.438, 79.707, 79.070 AUDUSD The pair is trading in the range between Moving Averages (100 and 500) 1.04407 and 1.02558. Resistance:  1.04407, 1.05332, 1.06164 Support: 1.03535, 1.02558, 1.01744   Useful Links Discuss currency news with other traders in FX2Day forum: https://fx2day.net/forum/mvnforum/index Download free demo platform: https://forex-metal.com/home/download Ready to open a real account to start trading? You can do it here: https://forex-metal.com/accounts/new Did you know that you can earn commission simply for referring a friend to us? There are 3 commission options you can choose from. To learn more please visit our Introducing Brokers page: https://forex-metal.com/broker_inquiries/new Watch our new commercial at YouTube: http://www.youtube.com/watch?v=o0fQEydv-3M Open Account |  Economic Calendar |  PIP Value Calculator |  Forex for Beginners   Forex Metal T: 1-866-464-0944 F: 1-800-689-8298 E: info@forex-metal.com You are receiving this e-mail because you have subscribed to free daily FX news via Forex-Metal.com website. If you do not want to receive any e-mail messages from us please send a message to support@forex-metal.com with UNSUBSCRIBE in the subject line. Please do not reply to this newsletter.