UWC Currency - page 10
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02.11.10
The Us dollar is under pressure of a new Fed meeting regarding the next session of QE measures and the oil is rising on waiting for this event.
The Euro consolidates during the European session and due to this slight recovery Eur/Usd approaches to the very important resistance level of 1.4000.
The European currency has been supported also by the manufacturing PMI figures which showed that this October's indicator increased and buoyed up the Euro.
During the European trading the USD was higher against the JPY today and now the pair keeps testing the new resistance area.
08.11.10
The USD recovered against its main competitors after US nonfarm payrolls figures were better than expected. Only the Japanese Yen continues to rise and do not let USD regain.
The European markets are in downtrend mood today: the Euro dropped to a new session low and Eur/Usd approaches the important area of 1.4000.
The last week was under the sign of Fed meeting regarding the second QE round. Since today markets will be concentrated on other important events. Within this week the Euro zone economic will be at the center of attention.
Due to unsteady US dollar currently investors find the Gold as the best investments protection.
09.11.10
The new worries regarding European sovereign debts wrapped round markets.
This new fears have supported the gold prices which increased and approached new high level.
The GBP/USD is trying to fix the direction, currently the pair recovers after the morning session lows. But it's necessary to wait until a confirmation will be given.
The EUR/USD recovers after losses and trying to reach a new day high.
During the day the pair fluctuates on market reactions.
The USD/JPY confirms again its downtrend and moves to new low point at 80.60.
10.11.10
According to the Us Economic Analysis regarding the US trade balance the deficit has been reduced.
Due to the upbeat economic date from US, the dollar recovers against the Yen today. The pair consolidates and reaches a new daily high around the area of 82.60.
Thanks to the inflation report the British pound rebounds against the USD and regains more than 100 pips during the European trading.
Yesterday the crude oil contracts dropped because of the US dollar consolidation against its main competitors on Tuesday but today the oil as a dollar-denominated commodity recovers.
Due to the worries on sovereign debts in Europe, the market participants continue to give preference to assets as gold. On European session hours the gold contracts prices were higher.
11.11.10
Over all trading sessions today the Euro is still under pressure of worries on sovereign debts in European countries. The Eur/Usd could not break its resistance level and dropped back to a session low below 1.3700. Currently the pair is trying to regain.
The GBP found consolidation against the US dollar around the area of 1.6140. Because of being pulled back 2 days ago the pair did manage to rebound from the support level and now the pair consolidates.
Due to the figures of Chinese industrial production report which has showed the high demand of the oil in China, the oil contracts increased immensely.
15.11.10
The European markets drooped after the Irish authorities declined the financial aid from European Union. Therefore the sovereign debt worries remain to prevail over the markets.
Ireland refused the EU help and it provoked the US dollar growth today.
Thereby on European trading hours the Eur/Usd fell at 1.3600. Now everything will be depend on the daily pair results: whether the pair would find a support next to 1.3570 or resistance above 1.3770.
The USD/JPY also is in uptrend today and during the Asian session the pair recovers from Friday's low.
Gold was lower in the morning after US dollar increased against euro. Same with oil which was trading lower on dollar's recovery against its main competitors.
19.11.10
Yesterday the European markets rose on expectations regarding situation with Ireland which might accept the financial aid from the European Union and the International Monetary Fund. Resolving the situation with Irish sovereign debts could make a valuable contribution to the whole euro countries area.
Today according to this event the Euro keeps rising against the US dollar. The Eur/Usd broke its resistance level confirming its uptrend.
All these news from euro-zone have a bad influence on US dollar and make the currency very unstable. Based on a weaker US dollar, the gold prices increased today.
The British pound demonstrates recovery today against the US dollar. During the day there are resistance and support levels on the pairs way.
30.11.10
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.