Daily Market News By Tradingforex, 02/10/2012 |
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TradingForecom2012 |
Oct 2 2012, 07:34 AM
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Junior Money Maker
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The dollar fell against most major currencies on Tuesday after solid U.S. manufacturing data published earlier, sparking a risk-on trading session. In the U.S. earlier, the Institute of Supply Management's U.S. purchasing managers' index beat expectations in September, rising to 51.5 from 49.6 in August. Analysts had expected the ISM manufacturing PMI to rise to 49.7 last month. The news boosted spirits in global markets, enticing investors out of the safety of the U.S. dollar and into higher-yielding currencies and stocks. Meanwhile, the euro and other currencies saw demand after Spain's finance minister reportedly said the country was studying financial aid game plans with the European Central Bank. Spain announced recent bank stress tests revealed financial institutions need just shy of EUR60 billion to return to health, and European Union Commissioner Olli Rehn said earlier that he doesn't expect bank recapitalization efforts to affect the country's structural deficit. Rehn added the country's 2012 deficit target is within reach. Further fueling the risk-on session, the euro zone unemployment rate remained unchanged at 11.4% in August, in line with expectations.
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Replies(1 - 9)
TradingForecom2012 |
Oct 8 2012, 09:29 AM
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Junior Money Maker
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Published on : 08/10/2012
The dollar rose against most major currencies on early Monday after investors spent the weekend digesting a stronger-than-expected U.S. September jobs report, concluding the numbers did not indicate significant recovery was taking shape in the U.S. economy.
The U.S. unemployment rate fell to 7.8% percent in September from 8.1% in August, the Bureau of Labour Statistics reported Friday.
Employers added a net 114,000 jobs in September, while households reported that total employment rose by 873,000 in September following three months of little change.
Meanwhile, the creation of just 114,000 new nonfarm payrolls reflected no major improvement from previous monthly jobs reports, investors concluded, which prompted many to take up long dollar positions early in Asian trading.
Elsewhere, demand for safe-haven currencies like the dollar rose ahead of the release of output data out of Germany, Europe's largest economy.
Germany will release month-on-month industrial output figures later in the day and until the numbers hit the wire, investors opted for safe-haven currencies such as the yen and the dollar.
A group of eurozone finance ministers are due to meet on Monday in Brussels, and investors sold the euro to await any policy announcements that may come from the talks.
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TradingForecom2012 |
Oct 11 2012, 10:00 AM
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Junior Money Maker
Group: Members
Posts: 36
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GBP/USD hit 1.6034 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.6015, adding 0.07%. Cable was likely to find support at 1.5960, the low of September 10 and resistance at 1.6083, the high of September 11. EUR/USD hit 1.2913 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.2897, inching up 0.09%. The pair was likely to find near-term support at 1.2802, the low of October 1 and resistance at 1.2990, Tuesday�s high. USD/CHF pulled back from 0.9431, the session high, to hit 0.9390 during European afternoon trade, slipping 0.13%. The pair was likely to find support at 0.9321, Tuesday�s low and resistance at 0.9431, the session high and a seven-day high.
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TradingForecom2012 |
Oct 12 2012, 08:33 AM
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Junior Money Maker
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EUR/USD was trading at 1.2939, up 0.09% at time of writing. The pair was likely to find support at 1.2932, today�s low, and resistance at 19.3300, Monday�s high.
EUR/GBPwas trading at 0.8066, up 0.09% at time of writing. The pair was likely to find support at 0.8023, Thursday�s low, and resistance at 0.8099, Tuesday�s high.
USD/JPY was trading at 78.40, up 0.08% at time of writing. The pair was likely to find support at 77.95, Thursday�s low, and resistance at 78.71, Monday�s high.
EUR/JPY was trading at 101.54, up 0.27% at time of writing. The pair was likely to find support at 100.15, Thursday�s low, and resistance at 102.45, Monday�s high.
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TradingForecom2012 |
Oct 15 2012, 08:13 AM
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Junior Money Maker
Group: Members
Posts: 36
Dream Points: 227
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EUR/USD was trading at 1.2957, up 0.03% at time of writing. The pair was likely to find support at 1.2824, Thursday�s low, and resistance at 1.3015, Monday�s high.
GBP/USD hit 1.6020 on Tuesday, the pair�s lowest since September 11; the pair subsequently consolidated at 1.6064 by close of trade on Friday, down 0.41% on the week.
AUD/USD hit 1.0292 on Thursday, the pair�s highest since October 2; the pair subsequently consolidated at 1.0230 by close of trade on Friday, still up 0.74% for the week.
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TradingForecom2012 |
Oct 16 2012, 08:15 AM
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Junior Money Maker
Group: Members
Posts: 36
Dream Points: 227
Experience Points: 86
Joined: 20-September 12
Member No.: 320,374
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GBP/USDhit 1.6022 during U.S. morning trade, the daily low, the pair subsequently consolidated at 1.6053, edging down 0.14%. Cable was likely to find support at 1.5983, Thursday�s low and resistance at 1.6141, the high of October 8.
EUR/USD pulled back from 1.2979, the session high, to hit 1.2938 during U.S. morning trade, slipping 0.11%. The pair was likely to find support at 1.2824, Thursday�s low and resistance at 1.2990, Friday�s high.
USD/CHF hit 0.9372 during European late morning trade, the daily high; the pair subsequently consolidated at 0.9333, easing up 0.01%. The pair was likely to find support at 0.9307, the low of October 12 and resistance at 0.9384, the high of October 4. https://www.tradingforex.com/
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TradingForecom2012 |
Nov 1 2012, 08:06 AM
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Junior Money Maker
Group: Members
Posts: 36
Dream Points: 227
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Joined: 20-September 12
Member No.: 320,374
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Currencies
USD/CAD Canada�s currency little changed at 99.94 cents per U.S. dollar at 5 p.m. in Toronto after reaching C$1.0014 earlier. It touched C$1.0019 yesterday, the weakest since Aug. 6. One Canadian dollar purchases $1.0006. GBP/USD The pound rose 0.3 percent to $1.6113 at 4:22 p.m. London time after appreciating 0.3 percent yesterday, gaining 0.2 percent to 80.45 pence after dropping 0.5 percent over the previous three days. Barclays predicts that sterling will strengthen to $1.65 by year-end USD/JPY The Japanese currency slid 0.3 percent to 80 per dollar. The 17- nation euro was little changed at $1.2964. The BOJ increased its asset-purchase program on Oct. 30 by 11 trillion yen ($137 billion) to 66 trillion yen to bolster growth through lower borrowing costs.
Commodities
Crude for December delivery was at $86.41 a barrel in electronic trading on the New York Mercantile Exchange, up 17 cents, at 2:46 p.m. Singapore time. Prices gained 56 cents yesterday to $86.24, the highest close since Oct. 26. Futures are down 13 percent this year. Brent oil for December settlement on the London-based ICE Futures Europe exchange was at $108.72 a barrel, up 2 cents. The contract earlier dropped as much as 0.5 percent and has fallen the past three days. The European benchmark crude was at a $22.31 premium to WTI, from $22.46 yesterday Metal for delivery in three months gained as much as 0.3 percent to $7,785 a metric ton on the London Metal Exchange and was at $7,783 at 11:41 a.m. in Tokyo. The contract fell 5.4 percent last month, the most since May. December futures rose 0.3 percent to $3.529 a pound on the Comex in New York. February futures retreated 0.2 percent to 56,750 yuan ($8,998) a ton on the Shanghai Futures Exchange.
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