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Thứ Sáu, 25 tháng 11, 2011

Market review for 24.11.11: The business climate index in Germany calculated by IFO Institute grew in November.

Forex-Metal Daily Market Review

Daily review for 24.11, 2011

The business climate index in Germany calculated by IFO Institute grew in November.

Asian and European trading sessions:

Euro: At the beginning of Asian trading session the Euro rose against major currencies supported by the demand of investors for the European region assets. One of the reasons for that increase was the positive report of German GDP which recorded the same +0.5% (QoQ) and +2.6% (YoY) as per the forecast. Another reason was today's data that showed that the business climate index in Germany calculated by IFO Institute as the results of November grew to the level of 106.6 points versus forecasted 105.5. During the European session the EUR/USD pair traded in the $1.3356 - $1.3410.

US Dollar: The U.S. dollar rate corrected by declining against the Euro and other major currencies after it's yesterday's rally. This correction had technical character and US Dollar still carried its title of safe-haven asset.

British Pound: The British pound rose during the both sessions. The GBP/USD pair traded in the $1.5501 - $1.5564 range and continued its downtrend by the end of European session.

Japanese Yen: The yen rose against most major currencies of the 16, before the publication of the business climate index in Germany. The USD/ JPY couple slide to its daily low of Y77.01 right at the beginning of Asian trading session.

Oil: The WTI futures finished its day by closing at $97.02 per barrel.

Gold: Had a quite narrow trading range today and closed at $1694.83 per troy ounce.

American trading session:

U.S. financial markets were closed today due to a National holiday, Thanksgiving Day.

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Thứ Năm, 24 tháng 11, 2011

Market review for 23.11.2011: Fears of the world economy sliding down into a recession supported the dollar.

Forex-Metal Daily Market Review and Technical Analysis

Daily review for 23.11. 2011

Fears of the world economy sliding down into a recession supported the dollar.

Asian and European trading sessions:

Euro: The euro dropped below the $1.3450 level against the U.S. dollar amid expectations that the credit rating of AAA for France could be affected by the released information from the Belgian newspaper De Standard. The source reported that the planned bailout of the Dexia SA bank was not possible, because Belgium did not provide a consistent share of funding.

Another negative reason that threw the EUR/USD pair to the $1.3375 level was a report, that showed an unexpectedly significant reduction in industrial orders in the EU. In detail, the Septembers' orders fell by 6.4% against the forecasted value of -2.7%

US Dollar: The dollar rose against major currencies against the backdrop of increased demand for safe assets due to the negative dynamics of the world's major stock indices. Stock indices declined due to pessimism that has become dominant in the markets after yesterday's U.S. and China macroeconomic data. The U.S. GDP for third quarter revision recorded 2.0 % level and it was lower than the preliminary data showed (2.5%), and lower than analysts had expected (2,3%). PMI in the manufacturing sector of China in November 2011 fell to 48 points from 51 points in October.

British Pound: The GBP/USD pair showed downtrend from $1.5654 to $1.5552.

Japanese Yen: The yen dropped against the major currencies. The USD/JPY pair increased from Y76.92 to Y77.23.

Canadian Dollar: The Canadian dollar grew against most of the major currencies after the release of the Retail Sales report, which grew in September rapidly, and increased the forecasts for the economic growth of the country.

Australian Dollar: The Australian dollar was under pressure due to the concerns over the situation in Euro-zone.

American trading session:

Oil: Oil traded around the $95.82 level per barrel.

Gold: Gold closed the day at the $1.693 mark per ounce.

technical analysis for 24.11, 2011

EURUSD

The pair has broken support and declined to the next support level at 1.33143. If the pair stays above this level the pair will rise to 1.34882.

Resistance: 1.34882, 1.35984, 1.37486

Support: 1.33143, 1.31674, 1.30277

GBPUSD

The pair has declined to 1.54842 and trying to roll back to 1.56722.

Resistance: 1.56722, 1.58543, 1.60322

Support: 1.54842, 1.53482, 1.52063

USDCHF

The pair has risen to 0.92026 and may roll back to 0.91079.

Resistance: 0.92026, 0.93069, 0.93949

Support: 0.91079, 0.89635, 0.88418

USDJPY

The pair has tested Moving Average (100) at 77.539 and rolling down to 76.463.

Resistance: 77.539, 78.345, 79.070

Support: 76.463, 75.425, 74.414

AUDUSD

The pair has found support at 0.96579 and rolling back to 0.97423.

Resistance: 0.97423, 0.98436, 0.99207

Support: 0.96579, 0.95611, 0.94635

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Thứ Tư, 23 tháng 11, 2011

Market review for 22.11.2011:The IMF Board approved two new credit packages to limit and fight the spreading of the debt crisis.

Forex-Metal Daily Market Review and Technical Analysis

Daily review for 22.11. 2011

The IMF Board approved two new credit packages to limit and fight the spreading of the debt crisis.

Asian and European trading sessions:

Euro: The Euro recovered against most major competitors after the credit rating agency Moody's confirmed the U.S. credit rating at the AAA level. The EUR/USD pair continued rising and recorded its today's high at $1.3566 area, even despite the fact that a representative of the German authorities said that Germany had no additional plans to address the EU debt crisis.

US Dollar: The US dollar retreated against the major currencies amid positive dynamics in the main European stock markets and US indices' futures and decreasing demand for safe-haven assets.

British Pound: The GBP/USD pair traded within $1.5618 to $1.5688 levels. The report, which recorded decline in Public Sector Net Borrowing in the UK did not support for the pair.

Japanese Yen: The yen fell against most major currencies after a leading credit rating agency, Moody's confirmed the U.S. credit rating at the highest AAA level, thereby reduced demand for Japan's currency as safe-haven asset.

American trading session:

After the announcement of IMF Board's approval of two new credit packages for increasing the credit available to fight the spreading of the debt crises, the Euro and other risky assets had a push to grow.

Oil: The WTI oil future on the NYMEX trading rose for the first time in four days by 1.02 dollars to 97.72 dollars per barrel. The drop of the oil, which started last week happened amid fears that the new sanctions against Iran and protests in Egypt would lead to a breach of oil delivers.

Gold: The Gold went up to 1698.95 dollars per troy ounce. The main reason for that was the weakness of the US dollar.