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Market Review by TradingForex.com

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Market Review by TradingForex.com

Post by TradingForex.com on Tue Oct 30, 2012 8:57 am

Currencies

USD/JPY The Japanese currency reached 79.28 per dollar, the strongest since Oct. 22, before trading at 79.43 as of 6:13 a.m. in London, 0.5 percent higher than yesterday’s close.
AUD/USD Australia’s dollar traded at $1.0334 at 2:53 p.m. in Sydney from $1.0332 yesterday, when it fell 0.4 percent. It was little changed at 82.49 yen . Australian bonds gained for a third day, pushing the yield on 10-year debt down by seven basis points, or 0.07 percentage point, to 3.12 percent.
USD/CAD The loonie, as the currency is known for the image of the aquatic bird on the C$1 coin, weakened 0.4 percent to C$1.0010 per U.S. dollar at 5 p.m. in Toronto. It hasn’t lost for five consecutive days since May. The Canadian dollar last closed weaker than parity on Aug. 6. One Canadian dollar buys $0.9990.

Commodities

Brent oil for December settlement on the London-based ICE Futures Europe exchange dropped as much as 69 cents, or 0.6 percent, to $108.75 a barrel. The European benchmark crude was at a premium of $23.75 to the WTI contract. The spread increased for a sixth day yesterday to $23.90, near the widest in more than a year.
GOLD The rise in gold prices in recent years added to the metal’s popularity. Spot gold, which traded at $1,711.38 an ounce on Oct. 29, has climbed 9 percent this year, heading for a 12th consecutive annual gain, as investors bought bullion to protect against inflation.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Wed Oct 31, 2012 9:18 am

Currencies

USD/JPY The dollar bought 79.62 yen as of 1:53 p.m. in Tokyo after falling 0.2 percent yesterday. It fetched $1.2957 per euro following a 0.4 percent decline in New York, the biggest drop since Oct. 17. Europe’s shared currency was little changed at 103.17 yen after rising 0.2 percent yesterday. The dollar has strengthened 2.1 percent against its Japanese counterpart this month. It has declined 0.8 percent versus the euro since Sept. 30.
USD/CAD The loonie, as the currency is nicknamed for the waterfowl on the C$1 coin, rose 0.2 percent to 99.92 per U.S. dollar cents at 5 p.m. in Toronto. It closed weaker than that level yesterday for the first time since Aug. 6. The currency is down 1.6 percent this month. One Canadian dollar buys $1.0008. The Stoxx Europe 600 Index (SXXP)advanced 0.9 percent while crude oil, Canada’s largest export, rose 0.2 percent to $85.69 per barrel in New York.
GBP/USD The pound gained 0.3 percent to $1.6081 at 4:19 p.m. London time after falling to $1.5914 on Oct. 23, the lowest level since Sept. 6. Sterling weakened 0.2 percent to 80.66 pence per euro.

Commodities

Crude Oil for December delivery rose as much as 34 cents to $86.02 a barrel in electronic trading on the New York Mercantile Exchange at 2:22 p.m. Singapore time. Prices gained 14 cents yesterday to $85.68, the highest close since Oct. 26. Futures are down 6.7 percent in October and 13 percent this year.
Brent oil for December settlement rose 7 cents to $109.15 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude’s premium to the West Texas Intermediate contract was at $23.18, down from $23.40 yesterday.
Gold for immediate delivery rose as much as 0.2 percent to $1,712.80 an ounce and was at $1,711.52 at 1:24 p.m. in Singapore. Prices are down 3.4 percent this month after climbing 4.7 percent in September as central banks from Europe to China to the U.S. pledged to do more to stimulate their economies.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Thu Nov 01, 2012 9:38 am

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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Re: Market Review by TradingForex.com

Post by TradingForex.com on Fri Nov 02, 2012 9:09 am

Currencies
USD/JPY The yen fell 0.1 percent to 80.23 per dollar as of 2:20 p.m. in Tokyo. It reached 80.38 on Oct. 26, the weakest since June 25.. The yen has retreated 0.7 percent against the dollar since Oct. 26, set for a third weekly drop.
EUR/USD The dollar gained 0.4 percent to 80.12 yen per dollar at 5 p.m. in New York. It gained 0.1 percent to $1.2943 per euro. The currency appreciated 0.7 percent, the first increase in four days, to 13.0067 per dollar. It earlier touched 13.1289 per dollar, the weakest intraday level since Sept. 6
USD/CAD The Canadian dollar appreciated 0.3 percent to 99.65 cents per U.S. dollar at 5 p.m. in Toronto. It declined 0.2 percent earlier to C$1.0013, trading below parity for a fourth day, after touching C$1.0019 on Oct. 30, the weakest level since Aug. 6. One Canadian dollar buys $1.0035.

Commodities
Gold rose 9.6 percent to $1,713.25 an ounce in London this year, heading for a 12th straight annual gain, the longest winning streak in at least nine decades. The Standard & Poor’s GSCI gauge of 24 commodities lost 1.2 percent since the end of December, and the MSCI All-Country World Index of equities climbed 11 percent. Treasuries returned 1.9 percent, a Bank of America Corp. index shows.
OIL
Crude for December delivery fell as much as 53 cents to $86.56 a barrel in electronic trading on the New York Mercantile Exchange and was at $86.57 at 2 p.m. Singapore time. It advanced 85 cents to $87.09 yesterday, the highest close since Oct. 22. Prices are up 0.3 percent this week, trimming the year’s decline to 12 percent.
Brent oil for December settlement was at $107.88 a barrel, down 29 cents, on the London-based ICE Futures Europe exchange. The European benchmark crude grade was at a $21.31 premium to West Texas Intermediate. The gap narrowed by the most in the two weeks yesterday, shrinking $1.38 to $21.08.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Mon Nov 05, 2012 9:39 am

The Australian Dollar traded slightly higher as Australia’s trade deficit widened for the fifth consecutive month highlighted by flagging exports to all three of its largest trading partners: China, Japan and the U.S.

The Australian Bureau of Statistics reported the flow of goods declined to China by -4 %, Japan by -13% and the U.S. by -21% in September which should continue to be cause for concern by central bankers as an elevated exchange rate and global slowing were recently noted as the biggest headwinds facing the Aussie economy.

US non-farm payrolls on Friday night surpassed pundits expectations of 125,000 with an increase of 171,000 in October US stocks closed lower having been in the red for most of the day. Crude oil and Gold also were sharply lower as the US dollars strength reinforced the selling pressure on them and in turn on US equities tied to energy.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Tue Nov 06, 2012 8:42 am

Currencies
AUD/USD Australia’s dollar reached $1.0435, the strongest since Sept. 28, before trading at $1.0426 as of 4:04 p.m. in Sydney, 0.6 percent higher than the close yesterday
Australian bonds declined, pushing the yield on the 10-year note up by one basis point, or 0.01 percentage point, to 3.17 percent.

CAD/USD The loonie, as the Canadian dollar is nicknamed for the image of the waterfowl on the C$1 coin, was little changed at 99.64 cents per U.S. dollar at 5 p.m. in Toronto after depreciating to as weak as 99.77 cents. It strengthened earlier to 99.41 after touching 99.22 cents on Nov. 2, the strongest level since Oct. 25. The currency has traded over the past two months between 96.33 cents and C$1.0019. One Canadian dollar purchases $1.0036.

GBP/USD The pound fell 0.3 percent to $1.5980 at 4:08 p.m. London time after dropping 0.7 percent on Nov. 2 While the U.K. economy emerged from recession in the three months through September, recent data have been mixed.

Commodities
oil West Texas Intermediate oil for December delivery was at $85.69 a barrel, up 4 cents, in electronic trading on the New York Mercantile Exchange at 1:43 p.m. Singapore time. The contract advanced 79 cents to $85.65 yesterday after closing last week at the lowest level since July 10. Prices have dropped 13 percent this year.
Brent oil for December settlement was up 7 cents at $107.80 a barrel on the ICE Futures Europe exchange. The European benchmark crude was at a premium of $22.06 to New York-traded WTI after widening 6.1 percent yesterday
Gold was little changed at $1,684.90 an ounce at 11:27 a.m. in Singapore, after rebounding yesterday from a nine-week low of $1,672.75 as gold imports by China from Hong Kong climbed 30 percent in September from a month earlier.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Wed Nov 07, 2012 8:34 am

Currencies

EUR/USD The dollar fell 0.4 percent to $1.2861 per euro as of 2:48 p.m. in Tokyo, after earlier gaining as much as 0.2 percent. The dollar weakened on speculation President Barack Obamas re-election victory will boost chances the U.S. will continue monetary stimulus policies that tend to weaken the currency.
AUD/USD The Australian dollar gained 0.2 percent to $1.0451 as of 4:45 p.m. in Sydney after earlier falling as much as 0.2 percent. The currency’s implied three-month volatility fell to 8 percent, the lowest since 2007.
CAD/USD The Canadian dollar appreciated 0.4 percent to 99.21 cents per U.S. dollar at 5:05 p.m. in Toronto. It gained last week from the weakest level in almost three months, C$1.0019. One Canadian dollar buys $1.0080.

Commodities

Gold gained as much as 0.6 percent to $1,726.57 an ounce and was at $1,722.63 at 1:50 p.m. in Singapore. Copper rose as much as 1.3 percent to $7,798 a metric ton in London, and was at $7,736.25. West Texas Intermediate oil for December delivery pared losses of as much as 1 percent and the Standard & Poor’s GSCI Index of raw materials was little changed at 644.19.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Thu Nov 08, 2012 9:34 am

Currencies

EUR/USD The dollar added 0.2 percent to $1.2750 per euro as of 2:14 p.m. in Tokyo from yesterday, when it touched $1.2737, the strongest since Sept. 7.
USD/JPY The U.S. currency lost 0.2 percent to 79.88 yen after declining 0.4 percent to close at 80 yesterday. The Dollar Index (SPX), which tracks the greenback against the currencies of six major trading partners, rose 0.2 percent to 80.78 after touching 80.92, highest since Sept. 7.
NZD/USD It was little changed at $1.0406. New Zealand’s currency lost 0.2 percent to 81.67 U.S. cents following a 1 percent decline as of theNew York close, the biggest one-day drop since July 23. New Zealand’s two-year swap rate, a fixed payment made to receive floating rates, was at 2.64 percent from 2.62 percent yesterday.

Commodities

Oil for December delivery rose as much as 71 cents to $85.15 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $85.13 at 2:31 p.m. Singapore time. It lost $4.27 yesterday to $84.44, the lowest close since July 10. Prices are down 14 percent this year.
Brent for December settlement on the London-based ICE Futures Europe exchange gained as much as 88 cents, or 0.8 percent, to $107.70 a barrel. It slid $4.25, or 3.8 percent to $106.82 yesterday. The benchmark grade for more than half the world’s oil was at a premium of $22.51 to New York crude. The spread widened to a one-week high of $22.38 yesterday.
Gold Spot gold was little changed at $1,718.80 an ounce at 2:09 p.m. in Singapore, after rising 0.2 percent. A fourth day of gains would be the longest winning streak since August. The metal reached $1,731.82 yesterday, the most expensive since Oct. 23

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Fri Nov 09, 2012 9:01 am

Currencies

EUR/USD The euro dropped 0.2 percent to $1.2747 at 5 p.m. in New Yorkafter sliding to $1.2717, the lowest level since Sept. 7. The common currency fell 0.8 percent to 101.30 yen after sliding the same amount yesterday.
CAD/USD The Canadian dollar declined 0.4 percent to C$1.0003 per U.S. dollar at 5 p.m. in Toronto after falling yesterday the most in three weeks. The loonie last weakened below parity Nov. 1 after Hurricane Sandy closed equity markets earlier that week. One Canadian dollar buys 99.97 U.S. cents.
GBP/EUR The pound gained 0.2 percent to 79.74 pence per euro at 4:26 p.m. London time, after reaching 79.61 pence, the strongest level since Oct. 1. Sterling was little changed at $1.5976 after dropping to $1.5930, the weakest since Oct. 23.
AUD/USD The Australian dollar rose 0.2 percent to $1.0423 as of 5:02 p.m. in Sydney, poised for a 0.8 percent weekly gain. It has dropped 1 percent since Nov. 2, the biggest decline among the U.S. dollar’s major peers.

Commodities

Brent oil for December settlement advanced 17 cents to $107.42 a barrel on the ICE Futures Europe exchange. The European benchmark crude was at a premium of $22 to New York-traded WTI.
Crude oil for December delivery rose 65 cents to settle at $85.09 a barrel on the New York Mercantile Exchange. The contract dropped $4.27 yesterday to $84.44, the lowest settlement since July 10. Prices are down 14 percent this year.
Gold futures for December delivery rose 0.7 percent to settle at $1,726 an ounce at 1:38 p.m. on the Comex in New York. Prices have jumped 10 percent this year.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Mon Nov 12, 2012 8:37 am

Currencies

AUD/USD The Aussie dollar rose 0.3 percent from last week to $1.0418 as of 4:47 p.m. in Sydney and strengthened 0.3 percent to 82.82 yen. It touched $1.0480 on Nov. 7, the highest since Sept. 21. New Zealand’s currency gained 0.3 percent to 81.60 U.S. cents and added 0.2 percent to 64.86 yen.
JPY/EUR The yen slid 0.1 percent to 101.18 per euro as of 6:03 a.m. in London from 101.05 at the close on Nov. 9, following a 1.9 percent gain over the previous three sessions. The euro added 0.1 percent to $1.2731, after touching $1.2690 last week, the lowest since Sept. 7.

Commodities

Crude oil for December delivery increased 98 cents to settle at $86.07 a barrel on the New York Mercantile Exchange. Prices, which climbed 1.4 percent this week, are down 13 percent this year.
Brent oil for December settlement advanced $2.15, or 2 percent, to end the session at $109.40 a barrel on the London- based ICE Futures Europe Exchange.
Gold futures for December delivery rose 0.3 percent to $1,730.90 an ounce at 1:33 p.m. on the Comex in New York. Earlier, the price reached $1,739.40, the highest for a most- active contract since Oct. 19.This week, the metal has climbed 3.3 percent, the most since Jan. 27. Gold dropped in the previous four weeks, the longest slump since September 2011.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Tue Nov 13, 2012 8:55 am

Currencies

EUR/USD The euro fell to a two-month low as finance ministers from the currency bloc struggled to agree on Greek aid, curbing demand for the common currency. The euro lost 0.2 percent to $1.2687 as of 6:35 a.m. in London, after earlier weakening to $1.2673, the least since Sept. 7
AUD/USD Australia’s dollar declined, trimming a gain from yesterday, as concern Europe’s debt crisis is weighing on global growth reduced demand for riskier assets. The Aussie dollar lost 0.2 percent to $1.0405 as of 4:58 p.m. in Sydney from yesterday when it gained 0.4 percent.
GBP/EUR The pound slid 0.2 percent to 80.11 pence per euro at 5:01 p.m. London time. It dropped 0.2 percent to $1.5869, after touching $1.5865, the weakest level since Sept. 5.

Commodities

Crude for December delivery slid as much as 58 cents to $84.99 a barrel in electronic trading on the New York Mercantile Exchange and was at $85.01 at 3:56 p.m. Sydney time. The contract fell 50 cents to $85.57 yesterday. Prices are down 14 percent this year.
Brent for December settlement declined 61 cents, or 0.6 percent, to $108.46 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $23.45 to West Texas Intermediate futures, down from $23.50 yesterday.
Gold for immediate delivery, which climbed to a record $1,921.15 an ounce on Sept. 6, 2011, traded at $1,724.30 at 12:11 p.m. in Hong Kong after rising 10 percent this year. The run of annual gains is the best performance since at least 1920.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Wed Nov 14, 2012 9:19 am

Currencies

EUR/JPY The yen fell 0.4 percent to 101.23 per euro as of 6:12 a.m. in London. The euro rose 0.1 percent to $1.2718, after yesterday touching $1.2662, the weakest level since Sept. 7. The MSCI Asia Pacific Index added 0.2 percent, poised for its first advance in a week.
EUR/GBP The pound was little changed at 80.05 pence per euro at 4:58 p.m. London time after appreciating as much as 0.4 percent to 79.70 pence. The U.K. currency reached 79.61 pence on Nov. 8, the strongest level since Oct. 1. The pound has gained 1.2 percent this year . The euro weakened 3.3 percent and the dollar dropped 1.2 percent.
AUD/NZD Australia’s dollar touched NZ$1.2799, the highest level since Sept. 10, before trading at NZ$1.2788 as of 4:48 p.m. in Sydney, unchanged from yesterday. It rose to $1.0455, the strongest since Nov. 7, before trading at $1.0448, 0.1 percent higher. The Aussie advanced 0.3 percent to 83.08 yen. New Zealand’s currency added 0.1 percent to 81.70 U.S. cents and climbed 0.3 percent to 64.97 yen.
EUR/USD The euro was little changed at $1.2704 at 5 p.m. New York time after touching $1.2662 earlier, the weakest level since Sept. 7. Its 100-day moving average is $1.2644, and the 200-day average is $1.2815.

Commodities

Crude for December delivery was at $85.54 a barrel, up 16 cents, in electronic trading on the New York Mercantile Exchange, at 2:43 p.m. Singapore time. The contract declined 19 cents to $85.38 yesterday, the lowest close since Nov. 8. Prices have lost 13 percent this year.
Brent oil for December settlement, which expires tomorrow, was down 5 cents at $108.21 a barrel on the London-based ICE Futures Europe exchange. The more actively traded January contract gained 6 cents to $107.40. The European benchmark crude was at a premium of $22.66 to New York futures. The spread narrowed yesterday for the first time in three days to $22.88.
Gold for immediate delivery, which rose to a record $1,921.15 an ounce on Sept. 6, 2011, traded at $1,728.35 at 11:57 a.m. in Singapore, 11 percent higher this year. The metal advanced 70 percent from December 2008 through June 2011 as the Federal Reserve bought $2.3 trillion of debt in two rounds of so-called quantitative easing.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Thu Nov 15, 2012 9:16 am

In Asian trading on Thursday US dollar fell against the major currencies on weak data release earlier on Europe and the US.
In the eurozone data revealed that industrial production declined 2.5% in September, well beyond expectations for a more modest 1.9% decline. This sparked fears that the eurozone's preliminary gross domestic product rate for the third quarter will disappoint later Thursday. France, Germany and Italy are also to release individual GDP reports.
In the US, Commerce Department reported earlier that retail sales fell by a seasonally adjusted 0.3% in October, weaker than expectations for a 0.2% decline. Core retail sales, which exclude automobile sales, came in flat last month. Analysts were expecting core retail sales to rise 0.2% in October, after rising by an upwardly revised 1.2% in September. Also the Labor Department reported that producer prices fell by a seasonally adjusted 0.2% in October, compared to expectations for a 0.2% increase, after rising 1.1% in September. The core producer price index declined 0.2% in October, defying expectations for a 0.1% increase, after coming in September.
Later today the U.S. is to release reports on initial jobless claims, consumer price inflation, crude oil stockpiles and data on manufacturing activity in New York and Philadelphia.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Fri Nov 16, 2012 9:06 am

Currencies

GBP/EUR The pound depreciated 0.2 percent to 80.59 pence per euro at 4:41 p.m. London time after sliding to 80.65, the weakest since Oct. 31. The U.K. currency rose 0.2 percent to $1.5864. It earlier declined to $1.5829, the lowest since Sept. 5.
AUD/USD Australia’s dollar was unchanged at $1.0332 as of 3:54 p.m. in Sydney from yesterday, when it touched $1.0307, the lowest since Oct. 26. The currency was set for a 0.6 percent decline against the greenback this week, the biggest since the five days ended Oct. 5. The Aussie bought 83.76 yen after gaining 0.7 percent to 83.86 yesterday.
USD/JPY The index’s break below 81.01 is a sign the gauge will fall and a trading-day close below 80.63 confirms the trend, according to the unit of Bank of America Corp. The Dollar Index has longer-term support at about 78.41 to 78.09.

Commodities

Crude for December delivery, which expires today, was down 11 cents at $85.34 a barrel in electronic trading on the New York Mercantile Exchange at 2:02 p.m. Singapore time. The more- actively traded January contract slid 12 cents to $85.75. The front-month future dropped 87 cents yesterday to $85.45 and is down 0.9 percent this week. Prices have lost 14 percent this year.
Brent for January settlement on the London-based ICE Futures Europe exchange increased 9 cents to $108.10 a barrel. The front-month European benchmark grade was at premium of $22.35 to the corresponding WTI contract, from $25.53 yesterday.
Gold futures for December delivery retreated 0.9 percent to settle at $1,713.80 an ounce at 1:45 p.m. on the Comex, the biggest drop since Nov. 2. Earlier, the price touched $1,704.50, the lowest for a most-active contract since Nov. 7.

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Market Outlook 19 NOV 2012

Post by TradingForex.com on Mon Nov 19, 2012 9:29 am


Currencies AUD/USD Australia’s dollar climbed 0.3 percent to $1.0369 as of 5:35 p.m. in Sydney. It rose 0.3 percent to 84.31 yen after earlier touching 84.51, a level unseen since April 27. The New Zealand dollar traded at 81.34 U.S. cents after gaining 0.4 percent to 81.27 on Nov. 16. It fetched 66.13 yen from 66.08.
JPY/USD The yen depreciated 2.3 percent to 81.32 per dollar in New York this week, its biggest drop since February. The Japanese currency decreased 2.5 percent to 103.60 per euro, its most pronounced fall since September. The euro added 0.2 percent to $1.2743.
GBP/EUR The pound declined 0.3 percent this week to 80.15 per euro at 5 p.m. in London yesterday, after strengthening 1.7 percent during the previous three weeks. The U.K. currency fell 0.2 percent this week to $1.5866. It fell to $1.5829 on Nov. 15, the weakest level since Sept. 5.
Commodities GOLD Spot gold advanced as much as 0.6 percent to $1,723.70 an ounce and traded at $1,722.30 at 12:15 p.m. in Singapore. The metal slumped 1 percent last week as the dollar strengthened for a fourth week against a six-currency basket in the best run since June. Holdings in ETPs backed by bullion rose to 2,603.692 metric tons on Nov.
Crude OIL for January delivery rose as much as 76 cents to $87.68 a barrel in electronic trading on the New York Mercantile Exchange and was at $87.57 at 12:18 p.m. Singapore time. The contract increased $1.05 to $86.92 on Nov. 16 to cap a second weekly gain. Front-month prices are down 11 percent this year.
Brent OIL for January settlement gained 66 cents, or 0.6 percent, to $109.61 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $22.05 to West Texas Intermediate.

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Market Outlook 21 NOV 2012

Post by TradingForex.com on Wed Nov 21, 2012 9:46 am


Currencies EUR/USD The euro dropped 0.4 percent to $1.2762 as of 6:35 a.m. in London from yesterday. It slipped 0.2 percent to 104.50 yen. The Japanese currency touched 81.97 per dollar, the weakest since April 6, before trading at 81.89, 0.3 percent lower than yesterday’s close.
USD/JPY The dollar rose 0.4 percent to 81.72 yen at 12:21 p.m. in New York. The dollar has strengthened 3 percent against the yen in the past week while remaining within a range of 75.35 yen per dollar to 85.53 yen since the March 17, 2011, earthquake and tsunami that rocked Japan. The nation’s currency has fallen at least 1 percent versus all of its 16 most-traded peers since Prime Minister Yoshihiko Noda on March 15 called for elections that polls show favor the opposition party, which supports further monetary stimulus.
CAD/USD The Canadian dollar dropped less than 0.1 percent to 99.68 cents per U.S. dollar at 5 p.m. in Toronto. It touched 99.55 yesterday, the strongest since Nov. 8, as it gained as much as 0.6 percent, the most since Oct. 17. One Canadian dollar buys $1.0032.
Commodities OIL Crude for January delivery was at $86.79 a barrel, up 4 cents, in electronic trading on the New York Mercantile Exchange at 1:14 p.m. Singapore time. The contract lost $2.53 yesterday to $86.75, the biggest drop since Nov. 7. Prices are down 12 percent this year.
Brent oil for January settlement was at $109.94 a barrel, up 11 cents, on the London-based ICE Futures Europe exchange. The European benchmark crude was at a $23.15 premium to New York-traded West Texas Intermediate grade. The spread was $23.08 yesterday, the widest in three days.
Gold futures for December delivery fell 0.6 percent to settle at $1,723.60 an ounce at 1:39 p.m. on the Comex in New York, after reaching $1,736, the highest since Nov. 12. The price has gained 10 percent this year.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Thu Nov 22, 2012 10:02 am

Market Outlook 22 NOV 2012
Currencies EUR/USD The euro added 0.1 percent to $1.2845 as of 2:40 p.m. in Tokyo after earlier touching $1.2868, the highest since Nov. 7. It fetched 105.88 yen from 105.86 yesterday. Japan’s currency touched 82.59 per dollar, the weakest since April 4, before trading little changed at 82.43. The Japanese currency was poised for a 1.4 percent decline against the greenback this week and 2.2 percent drop versus the euro.

GBP/EUR The pound gained 0.1 percent to 80.42 pence per euro at 4:38 p.m. London time after appreciating to 80.06 pence, the strongest since Nov. 14. The U.K. currency rose 0.1 percent to $1.5940 after reaching $1.5949, the highest level since Nov. 9.

AUD/USD The Aussie rose 0.2 percent to $1.0387 as of 5:14 p.m. in Sydney after falling 0.4 percent over the previous two days. The New Zealand dollar, nicknamed the kiwi, added 0.1 percent to 81.55 U.S. cents following a two-day, 0.7 percent slide.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Fri Nov 23, 2012 9:35 am

Currencies

USD/JPY The yen rose 0.2 percent to 82.31 per dollar as of 6:52 a.m. in London after touching 82.84 yesterday, the weakest since April 4. It added 0.2 percent to 106.07 per euro. Europe’s shared currency was at $1.2889 from $1.2884 yesterday, when it climbed to $1.2899, the highest since Nov. 2. Japanese markets are shut today for a holiday. U.S. markets are set to reopen after Thanksgiving yesterday.
EUR/JPY The euro gained 0.6 percent to 106.50 yen at 1:53 p.m. in London after rising to 106.58 yen, the strongest level since April 30. The last time it traded at 107.74 yen was April 23.Fibonacci analysis is based on the theory that prices rise or fall by certain percentages after reaching a high or low. Support refers to an area where buy orders may be clustered.
EUR/GBP The U.K. currency depreciated 0.5 percent to 80.82 pence per euro at 4:32 p.m. London time after sliding to 80.86 pence, the weakest level since Oct. 25. The U.K. currency dropped 0.1 percent to $1.5937.Morgan Stanley predicts the pound will decline to 83 pence per euro by March, Stannard said.
AUD/USD The Australian dollar bought $1.0396 as of 4:50 p.m. in Sydney from $1.0390 yesterday and $1.0339 at the end of last week. The currency fell as low as $1.0288 on Nov. 16 and climbed as high as $1.0425 on Nov. 20. The Aussie’s implied three-month volatility fell to 7.4 percent, the lowest since October 2007.

Commodities

Gold is poised for a weekly advance after investors boosted holdings to an all-time high and central banks added to reserves as Europe’s debt crisis persisted. Palladium headed for the best week in more than two months.
Oil Crude prices fell because of profit taking after the truce was announced as the tension in the Middle East eased,” Gordon Kwan, the head of regional energy research for Mirae Assets Securities Ltd. who predicts Brent will trade from $105 to $120 a barrel this year, said by telephone in Hong Kong. “We don’t think the truce will last long. The pullback in crude prices won’t be significant.”
Brent oil for January settlement declined as much 38 cents to $110.17 a barrel on the London-based ICE Futures Europe exchange and was at $110.30 at 2:52 p.m. Singapore time. Prices slipped 31 cents to $110.55 yesterday. Futures are up 1.2 percent this week and 2.7 percent this year. The European benchmark grade traded at a premium of $23.14 to its U.S. counterpart.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Mon Nov 26, 2012 8:35 am

Currencies

EUR/USD The euro fell 0.2 percent to $1.2952 as of 6:56 a.m. in London from Nov. 23, when it capped a 1.8 percent five-day advance. The shared currency earlier touched 107.14 yen, the highest level since April 27, before trading at 106.41, 0.5 percent below the close in New York on Nov. 23.
AUD/USD The Australian dollar bought $1.0454 as of 5:23 p.m. in Sydney from $1.0461 on Nov. 23, when it rose as high as $1.0471, the most since Nov. 7. The currency’s three-month implied volatility dropped to 7.3 percent, the lowest since July 2007.
GBP/USD The pound advanced 0.6 percent to $1.6030 at 4:13 p.m.London time, after touching $1.6035, the most since Nov. 7. The U.K. currency is set for a 0.9 percent weekly gain. Sterling was little changed at 80.87 pence per euro after touching 81.09 pence, the weakest since Oct. 24.

Commodities

OIL crude for January delivery dropped as much as 47 cents to $87.81 a barrel in electronic trading on the New York Mercantile Exchange and was at $88.12 at 2:18 p.m. Singapore time. Futures advanced 90 cents to $88.28 a barrel on Nov. 23, the highest settlement since Nov. 19. Prices rose 1.9 percent last week and are down 11 percent this year.
Brent for January settlement lost 25 cents to $111.13 a barrel on the ICE Futures Europe exchange. The European benchmark crude was at a premium of $23.01 to New York-traded WTI, compared with $23.10 on Nov. 23.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Tue Nov 27, 2012 9:08 am

Currencies

EUR/USD The euro climbed to $1.3009, the strongest since Oct. 31, before trading at $1.2990 as of 6:48 a.m. in London, 0.1 percent higher than the close in New York yesterday. It gained 0.4 percent to 106.86 yen. The yen weakened 0.2 percent to 82.26 per dollar after earlier rising as much as 0.3 percent.
GBP/USD Sterling fell 0.1 percent to $1.6011 at 4:09 p.m. London time after sliding to $1.5997. It traded at 80.96 pence per euro after earlier dropping to 81.10, the weakest level since 0ct. 24.The 10-year gilt yield fell one basis point, or 0.01 percentage point, to 1.84 percent, after sliding to 1.816 percent, the least since Nov. 20. The 1.75 percent bond due in September 2022 rose 0.07, or 70 pends per 1,000-pound face amount, to 99.24.
AUD/USD Australia’s dollar rose 0.1 percent to $1.0479 at 5:09 p.m. in Sydney after earlier touching $1.0490, the highest since Sept. 21. It gained 0.4 percent to 86.24 yen. New Zealand’s currency traded at 82.34 U.S. cents, 0.2 percent above its close at 82.18 in New York. It bought 67.76 yen from 67.45.

Commodities

GOLD Spot gold advanced as much as 0.2 percent to $1,751.80 an ounce and traded at $1,749.80 at 12:12 p.m. in Singapore. The metal reached $1,754.65 on Nov. 23, the most expensive since Oct. 15. Holdings in ETPs expanded to 2,606.974 metric tons yesterday, data compiled by Bloomberg show. Cash silver rose as much as 0.4 percent to $34.285 an ounce, the highest level since Oct. 11.
OIL Crude for January delivery gained as much as 36 cents to $88.10 a barrel in electronic trading on the New York Mercantile Exchange and was at $88.09 at 1:32 p.m. Singapore time. The contract decreased 54 cents yesterday to $87.74, the lowest since Nov. 21. Prices are down 11 percent this year.
Brent for January settlement advanced 25 cents to $111.17 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $23.08 to West Texas Intermediate, compared with $23.18 yesterday.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Wed Nov 28, 2012 10:08 am

Currencies

GBP/USD The pound appreciated 0.2 percent to 80.75 pence per euro at 4:40 p.m. London time after strengthening through its 200-day moving average for the first time since Nov. 22. It earlier depreciated to 81.14 pence, the weakest since Oct. 24.
EUR/USD The dollar rose 0.2 percent to $1.2943 per euro at 5 p.m. New York time after dropping to $1.3009, the weakest since Oct. 31. The euro declined 0.1 percent to 106.34 yen after rising as much as 0.5 percent. The Japanese currency was 0.1 percent weaker at 82.15 yen per dollar.
AUD/USD The Australian dollar bought $1.0447 as of 4:46 p.m. in Sydney after falling 0.2 percent yesterday to $1.0446. It dropped 0.4 percent to 85.50 yen. New Zealand’s currency fetched 82.10 U.S. cents from 82.03 and was at 67.19 yen, 0.3 percent below yesterday’s close.
USD/JPY The Japanese currency touched 81.79 per dollar, the strongest since Nov. 21, before trading at 81.83 as of 2:54 p.m. in Tokyo, 0.4 percent stronger than yesterday’s close. The 17- nation euro dropped 0.6 percent to 105.76 yen, and has lost 1.1 percent this week. The dollar bought $1.2925 per euro, up 0.1 percent from yesterday when it gained 0.2 percent to $1.2943.

Commodities

OIL Crude for January delivery was at $87.13 a barrel, down 5 cents, in electronic trading on the New York Mercantile Exchange at 1:47 p.m. Singapore time. The contract decreased 56 cents yesterday to $87.18, the lowest since Nov. 20. Prices are down 12 percent this year.
Brent for January settlement rose 20 cents to $110.07 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $22.94 to West Texas Intermediate, compared with $22.69 yesterday.
GOLD Spot gold retreated as much as 0.2 percent to $1,738.68 an ounce, the cheapest since Nov. 23, and traded at $1,740.94 at 1:01 p.m. in Singapore. Holdings in ETPs, up 11 percent this year, expanded to 2,612.069 metric tons yesterday, data compiled by Bloomberg show. Cash silver slid as much as 0.4 percent to $33.9063 an ounce and traded at $33.96.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Thu Nov 29, 2012 8:45 am

Currencies

USD/JPY Japan’s currency has fallen 8.8 percent this year, the most among 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The euro is the second-worst performer, losing 2.4 percent, followed by the dollar’s 1.9 percent decline.The yen rose 0.4 percent to 81.86 per dollar at 1:07 p.m. in New York.
AUD/USD The Australian dollar was little changed at $1.0472 as of 4:52 p.m. in Sydney from yesterday, when it gained 0.3 percent. It touched $1.0490 on Nov. 27, the highest since Sept. 21. The currency was poised for a 0.9 percent gain this month.
EUR/USD The dollar traded at $1.2946 per euro as of 6:33 a.m. in London from $1.2953 in New Yorkyesterday. It touched $1.3009 on Nov. 27, the weakest since Oct. 31. The yen was little changed at 106.34 per euro and 82.14 versus the U.S. currency.

Commodities

Gold for immediate delivery rose as much as 0.2 percent to $1,723.70 an ounce and traded at $1,720.38 at 1:52 p.m. in Singapore. The price dropped 1.3 percent yesterday, the biggest fall since Nov. 2, on concern that a U.S. deal won’t be agreed. Bullion for February delivery gained as much as 0.4 percent to $1,726 an ounce on the Comex, and was at $1,722.20.
OIL Crude for January delivery climbed as much as 40 cents to $86.89 a barrel in electronic trading on the New York Mercantile Exchange and was at $86.69 at 3:04 p.m. Singapore time. The contract pared a decline of as much as $1.82 yesterday to close down 69 cents at $86.49, the lowest since Nov. 15. Prices have fallen 12 percent this year.
Brent for January settlement rose 20 cents to $109.71 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $23.02 to West Texas Intermediate futures, unchanged from yesterday.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Fri Nov 30, 2012 8:59 am

Currencies

EUR/JPY The yen reached 107.30 per euro, the weakest level since April 27, before trading at 107.16 as of 6:43 a.m. in London, 0.5 percent lower than the close in New York. It fell 0.4 percent to 82.42 per dollar. The greenback lost 0.2 percent to $1.3004 per euro after touching $1.3014 yesterday, the lowest since Oct. 31.
AUD/USD The Aussie fell versus all of its 16 most-traded peers as capital spending gained 2.8 percent in third quarter, down from 3.4 percent in the second quarter, the Bureau of Statistics said in Sydney yesterday. Australia’s currency depreciated 0.4 percent to $1.0435 yesterday in New York, its biggest drop on a closing basis since Nov. 15. It declined 0.4 percent to 85.69 yen.
CAD/USD Canada’s currency was little changed at 99.25 cents per U.S. dollar at 5 p.m. in Toronto after weakening as much as 0.2 percent. It gained earlier to 99.12. The loonie touched 99.06 cents on Nov. 27, the strongest since Nov. 7. It has strengthened 0.7 percent this month and 2.9 percent this year. One Canadian dollar purchases $1.0076.

Commodities

OIL Crude for January delivery was at $88.03 a barrel, down 4 cents, in electronic trading on theNew York Mercantile Exchange at 3:13 p.m. Singapore time. The contract increased $1.58 yesterday to $88.07. Prices are up 2.1 percent this month and down 0.3 percent this week.
Brent for January settlement was unchanged at $110.76 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $22.73 to West Texas Intermediate futures, from $22.69 yesterday.
GOLD Spot gold added as much as 0.3 percent at $1,730.90 an ounce before trading at $1,729.79 at 2:30 p.m. in Singapore. That would be a 0.5 percent gain for the month. Palladium is set for a 14 percent rally in November, the most since December 2010.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Mon Dec 03, 2012 9:03 am

Currencies

GBP/EUR The pound fell 0.3 percent from Nov. 23 to 81.18 pence per euro at 4:54 p.m. London time yesterday after depreciating to 81.33 pence, the weakest level since Oct. 24. The U.K. currency was little changed on the week at $1.6023, after touching $1.6063, the most since Nov. 2.
CAD/UAS The loonie weakened 0.2 percent to 99.44 cents per U.S. dollar at 5 p.m. in Toronto. It depreciated 0.2 percent on the week, while gaining 0.5 percent in November. One Canadian dollar purchases $1.0056. The U.S. dollar has dropped 2.1 percent, and the yen has been the biggest loser, sliding 9.4 percent.
EUR/USD The euro gained 0.1 percent to $1.2986 at 5 p.m. New York time after touching $1.3028, the strongest since Oct. 23. It extended its monthly gain to 0.2 percent. The yen depreciated 0.5 percent to 107.11 per euro after sliding to 107.67, the weakest level since April 23. It is down 3.6 percent this month. Japan’s currency fell 0.4 percent to 82.48 per dollar to increase its November drop to 3.3 percent.

Commodities

OIL Crude oil for January delivery advanced 84 cents to $88.91 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 19. Futures increased 0.7 percent this week and gained 3.1 percent this month. Prices are down 10 percent this year.
Brent oil for January settlement rose 47 cents, or 0.4 percent, to $111.23 a barrel on the London-based ICE Futures Europe exchange.The MNI Chicago Report’s business barometer rose to 50.4 in November from 49.9 the prior month. A reading of 50 is the dividing line between expansion and contraction.
Gold capped its biggest weekly drop in more than five months on concern that U.S. lawmakers may fail to reach a settlement in talks aimed at avoiding self-imposed tax increases and budget cuts known as the fiscal cliff.Gold futures for February delivery slid 1 percent to settle at $1,712.70 an ounce at 1:43 p.m. on the Comex in New York. Prices retreated 0.4 percent this month, the second straight loss.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Tue Dec 04, 2012 9:23 am

Currencies

The euro fetched $1.3056 as of 8:26 a.m. in Tokyo from $1.3054 yesterday, when it touched $1.3076, the most since Oct. 23. The shared currency was little changed at 107.30 yen from yesterday, having risen 1 percent in the past three sessions. The U.S. currency slid 0.1 percent to 82.19 yen. The so-called Aussie traded at $1.0425 from $1.0421, after having fallen 0.5 percent in the past three days.
The Australian dollar rose 0.3 percent to $1.0449 as of 2:57 p.m. in Sydney after losing 0.5 percent over the previous three sessions. New Zealand’s currency added 0.3 percent to 82.31 U.S. cents.The nation’s bonds fell, with the benchmark 10-year yield gaining five basis points to 3.19 percent.

Commodities

Spot gold slid as much as 0.2 percent to $1,712.35 an ounce, and traded at $1,712.88 at 12:37 p.m. in Singapore. Bullion for February delivery declined 0.4 percent to $1,714.70 an ounce on the Comex in New York, while oil and copper retreated. Holdings in ETPs, up 11 percent this year, expanded to 2,623.446 metric tons yesterday,

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Thu Dec 06, 2012 9:01 am

Currencies

EUR/USD The shared currency slid to $1.3055 as of 2:10 p.m. in Tokyo down 0.1 percent from yesterday, when it touched $1.3127, the highest since Oct. 18. The euro traded at 107.71 yen from 107.78. The Japanese currency was at 82.51 per dollar, after weakening 0.7 percent to 82.47 yesterday.The euro fell from a seven-week high against the dollar before a report forecast to show the currency bloc’s economy contracted, adding to signs its three-year debt crisis is hindering growth
NZD/USD New Zealand’s dollar gained, buying 82.92 U.S. cents at 11:55 a.m. in Wellington compared with 82.54 cents immediately before the statement. The so-called kiwi reached its highest since Nov. 7 and has advanced about 6 percent against the U.S. dollar in the past 12 months, making it the strongest performer among the Group of 10 currencies .Two-year swap yields rose to 2.67 percent from 2.59 percent late yesterday.

Commodities

OIL Crude for January delivery was at $87.65 a barrel, down 23 cents, in electronic trading on the New York Mercantile Exchange at 2:48 p.m. Singapore time. Prices fell 62 cents yesterday to close at $87.88 a barrel, the lowest since Nov. 28. Futures have dropped 11 percent this year.
Brent oil for January settlement on the London-based ICE Futures Europe exchange was at $108.76 a barrel after sliding $1.03 yesterday. The European benchmark crude was at a premium of $21.09 to New York-traded WTI. It closed at $20.93 yesterday, the narrowest gap since Nov. 2.
GOLD Spot gold was at $1,693 an ounce at 12:27 p.m. in Singapore after fluctuating between gains and losses. The metal fell to $1,684.93 yesterday, the least expensive since Nov. 6, as the dollar rallied on speculation that U.S. lawmakers will reach a budget agreement. Holdings in ETPs climbed to 2,627.59 metric tons yesterday

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Fri Dec 07, 2012 8:38 am

Currencies

USD/JPY The Japanese currency lost 0.1 percent to 82.48 per dollar as of 2:10 p.m. in Tokyo from yesterday’s close in New York, and was little changed for the week. The yen weakened 0.1 percent to 106.96 per euro, trimming its weekly gain to 0.1 percent. The shared currency was little changed at $1.2969 from yesterday, when it dropped 0.8 percent, the biggest decline since Nov. 2
CAD/USD The loonie, as the Canadian currency is known for the image of the waterfowl on the C$1 coin, was little changed at 99.14 cents per U.S. dollar at 5 p.m. in Toronto. It touched 98.93, strongest since Nov. 7. One Canadian dollar purchases $1.0087.
AUD/USD Australia’s currency traded at $1.0478 as of 5:07 p.m. in Sydney. Yesterday it rose 0.3 percent to $1.0486 in New York after touching $1.0516, the highest since Sept. 21. The New Zealand dollar, nicknamed the kiwi, bought 83.19 U.S. cents from 83.27. The Aussie has risen 0.5 percent this week, while the kiwi has advanced 1.4 percent.
EUR/USD The euro depreciated 0.8 percent to $1.2970 per dollar at 5:02 p.m. in New York, after falling 0.2 percent yesterday. The common currency dropped 0.9 percent to 106.84 yen, after rising to 107.96 yesterday, the strongest level since April 20.

Commodities

OIL Crude for January delivery was at $86.54 a barrel, up 28 cents, in electronic trading on the New York Mercantile Exchange at 1:56 p.m. Singapore time. The contract slid $1.62 yesterday to $86.26, the lowest close since Nov. 15. Prices are down 2.7 percent this week and 12 percent this year.
Brent for January settlement rose 24 cents to $107.27 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $20.73 to West Texas Intermediate. It closed at $20.77 yesterday, the narrowest gap since Oct. 19.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Mon Dec 10, 2012 8:49 am

Currencies

AUD/USD Australia’s dollar fell from near the highest level in more than two months after Chinese exports and imports trailed economists’ forecasts, damping the South Pacific nation’s trade prospects.The Australian dollar slid to $1.0476 as of 5:02 p.m. in Sydney, down 0.1 percent from Dec. 7 when it capped a 0.6 percent weekly gain. On Dec. 6, it touched $1.0516, the highest since Sept. 21.
EUR/USD The euro fell against the dollar and yen for the first time in four weeks after the European Central Bank lowered its economic forecast for the region and policy makers discussed trimming benchmark interest rates.The shared currency fell 0.5 percent to $1.2927 in New York for the first weekly loss since Nov. 9. It touched $1.2877 on Dec. 7, the weakest since Nov. 23.
CAD/USD The Canadian dollar rose to the highest level in a month versus its U.S. counterpart as employers added almost six times as many jobs as forecast in November, countering recent signs of an economic slowdown. The loonie, as the currency is nicknamed for the image of the aquatic bird on the C$1 coin, appreciated 0.6 percent to 98.84 cents per U.S. dollar this week in Toronto. It touched 98.77 cents yesterday, strongest since Nov. 7. One Canadian dollar buys $1.0117.

Commodities

OIL Crude for January delivery rose as much as 52 cents to $86.45 a barrel in electronic trading on the New York Mercantile Exchange and was at $86.41 at 2:25 p.m. Singapore time. The contract dropped 33 cents on Dec. 7 to $85.93, the lowest close since Nov. 15. Prices slid 3.4 percent last week and are down 13 percent this year.
Brent oil for January settlement on the London-based ICE Futures Europe exchange climbed as much as 66 cents, or 0.6 percent, to $107.68 a barrel. The European benchmark crude was at a premium of $21.25 to New York-traded West Texas Intermediate grade. The spread widened on Dec. 7 for the first time in seven days to $21.09.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Tue Dec 11, 2012 8:54 am

Currencies

EUR/USD The dollar fell 0.1 percent to $1.2957 per euro at 6:23 a.m. in London, following yesterday’s 0.1 percent drop. It fetched 82.33 yen after sliding 0.2 percent yesterday to 82.36. The euro bought 106.68 yen from 106.58 yesterday when it touched 105.98, the weakest level since Nov. 28.The dollar remained lower against the yen and euro amid speculation the Federal Reserve will expand monetary stimulus at a two-day meeting starting today.
CAD/USD The Canadian dollar, called the loonie for the image of the aquatic bird on the C$1 coin, rose 0.2 percent to 98.63 Canadian cents per U.S. dollar at 5 p.m. in Toronto, after earlier touching 98.62 cents, strongest since Oct. 19. One Canadian dollar buys $1.0139.The Canadian dollar reached a seven- week high versus its U.S. peer as the government approved Cnooc Ltd. (883)’s $15.1 billion takeover bid for Nexen Inc. (NXY)
GBP/EUR The pound gained 0.2 percent to 80.44 pence per euro at 4:18 p.m. London time after appreciating to 80.33 pence, the strongest level since Nov. 21. The pound strengthened for a fourth day against the euro after Italian Prime Minister Mario Monti said he intends to resign, boosting demand for the relative safety of British assets.

Commodities

OIL Crude for January delivery was at $85.59 a barrel in electronic trading on the New York Mercantile Exchange, up 3 cents, at 1:16 p.m. Singapore time. The contract slid 37 cents to $85.56 yesterday, the lowest close since Nov. 15. Prices have fallen 13 percent this year, poising crude for its first annual decrease in since 2008.
Brent oil for January settlement on the London-based ICE Futures Europe exchange was at $107.31 a barrel, down 2 cents. The European benchmark crude was at a premium of $21.70 to New York-traded West Texas Intermediate grade. The spread was $21.77 yesterday, the widest in a week.
GOLD Spot gold fell as much as 0.4 percent to $1,706.95 an ounce before trading at $1,709.25 at 2:58 p.m. in Singapore. Bullion rallied to $1,717.36 yesterday, the most expensive since Dec. 3, as the dollar weakened.

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Re: Market Review by TradingForex.com

Post by TradingForex.com on Thu Dec 13, 2012 8:57 am

Currencies

USD/JPY The yen touched 83.67 per dollar, the weakest since March 21, before trading 0.4 percent lower at 83.59 as of 6:51 a.m. in London.The yen fell to the weakest level in almost nine months against the dollar before the Bank of Japan (8301)’s Tankan survey tomorrow, which economists say will show big manufacturers in the nation grew more pessimistic.
EUR/USD The shared currency closed above $1.3002 yesterday, signaling an upward trend that may see it test $1.3150, the 38 percent Fibonacci retracement level of a broad bearish move in the euro from May 2011 to July, Richard Adcock, head of fixed- income technical strategy at UBS AG in London, wrote today in a note to clients. The euro could rise to $1.3490, its highest level since Dec. 2, 2011, if it closes the week above $1.30
AUD/USD Australia’s currency appreciated 0.3 percent to $1.0555 yesterday in New York, after rising to $1.0586, its highest level since Sept. 14.The Australian dollars rose against their U.S. peer after the Federal Reserve added to its monetary-stimulus program, renewing concern the measures will debase the U.S. currency.
NZD/USD New Zealand’s dollar has strengthened 6.3 percent this year, the biggest increase among the 10 developed-nation currencies monitored by the Bloomberg Correlation-Weighted Indexes. The Aussie has gained 0.7 percent, and the U.S. dollar has fallen 2.9 percent.

Commodities

OIL Crude for January delivery fell as much as 39 cents to $86.38 a barrel in electronic trading on the New York Mercantile Exchange and was at $86.56 at 2:44 p.m. Singapore time. The contract advanced 98 cents to $86.77 yesterday, the highest close since Dec. 5. Prices are down 12 percent this year, set for the first annual decline since 2008.
Brent oil for January settlement on the London-based ICE Futures Europe exchange declined as much as 64 cents, or 0.6 percent, to $108.86 a barrel. It climbed 1.4 percent yesterday, the most since Nov. 19. The European benchmark crude was at a premium of $22.64 to New York-traded West Texas Intermediate.

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Market Outlook 28 Dec

Post by TradingForex.com on Fri Dec 28, 2012 1:38 pm


CURRENCIES EUR/USD The euro has been on the rise while the dollar has been dropping against it, as the efforts to avert the fiscal cliff continue. The dollar fell to its lowest in 8 months trading at 1.3236 per euro at 5:05 pm New York time, and it has weakened as much as 0.5 percent. The euro’s 14-index of relative strength reached 70.6 to the dollar.
USD/JPY The yen has been on a fall, reaching its lowest in 28 months against the dollar. The yen dropped 0.6 percent touching 86.10 per dollar, its weakest since August 16, 2010.As of 2:17pm Tokyo time, the yen traded at 86.64 per dollar, after trading at 86.45 which is 0.4 percent lower than yesterday. The yen has lost 2.6 percent against the dollar since December 21 of this year, and its 14-day relative strength index has dropped to 17 against the dollar.
EUR/JPY According to Bloomberg’s correlation-weighted indexes the euro has gained 3 percent in the past three months, making it the second highest of the 10 development market currencies.The yen however has dropped 0.7 percent to 113.99 per euro, and its 14 day relative strength index dropped to 19.8 against the euro.The constant fall of the currency has spurred speculations that the central bank of the country will need to try and set up a cash infusion to control the situation.The Japanese currency has lost 0.4 percent to 114.49 per euro, and dropped to its lowest level since July 11 2011, while the euro has gained 0.1 percent and is now at 1.3242 dollars.
AUD/JPY The Australian currency has been gaining strength and has reached its highest against the yen since April of 2011, and has touched 89.83 yen. The decline in Japan’s consumer prices which has added to the monetary problems of the country, has helped the Australian dollar trade at 89.67 as of 4:01 pm Sydney time, which is 0.4 percent higher than yesterday. The yearly increase of the currency is predicted to be 14 percent against the Japanese currency.

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Market Outlook 31 Dec 2012

Post by TradingForex.com on Mon Dec 31, 2012 11:28 am

EUR/USD The dollar rose 0.1 percent to 1.3201 dollars against the euro. The euro has risen 1.8 percent versus the dollar, a rise for the first time in two years, after the European Central Bank presented a program in September to aid the currency’s fall.

USD/JPY The yen declined 0.2 percent to 86.13 per dollar as of 1:32 p.m Singapore time, the continuous decline has brought heat on the country from other nations , Finance Minister Taro Aso responded that no one has the right to lecture the country, and added that the US should have a stronger dollar. Since 2011 the currency has dropped more than 10 percent against the dollar.

AUD/USD The Australian dollar climbed higher than most of the other currencies, and that was due to the manufacturing growth in China, which is its biggest trading partner. It gained 0.1 percent to 1.0381 dollars and is expected to have an overall 1.7 increase this year.

GBP/USD After a couple of changes throughout the past week, where the British pound rose against the dollar, after the pair hit 1.6065 on Thursday which was its lowest since December 10, the pair has climbed today and added 38 pips at 1.6138.

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Market outlook 2 January 2013

Post by TradingForex.com on Wed Jan 02, 2013 11:18 am

Currencies USD/JPY The Yen has dropped even further against the dollar, and has gone down to 87.33 per dollar, its lowest since July 29, 2010. As of 6:38 am London time it traded at 87.27. These changes took place after the legislation to avert the fiscal cliff was passed. Currency strategist in Sydney Australia& New Zealand Banking Group Ltd. Andrew Salter stated that the Yen will probably remain weak for the time being, adding “if you look out a month or two, it really depends upon what the government is able to achieve as far as the central bank is concerned”

EUR/USD The dollar lost 0.5 percent and fell to 1.3272 dollars against the euro. Its weakening has taken affect as the legislation for averting the fiscal cliff was passed by the U.S. today.

AUD/USD The U.S. dollar slightly gains while the Aussie loses, dropping 0.7 percent from its lowest level in over four weeks. As of 11:08 am Sydney time it traded at 1.0399 dollars. It is predicted that the Australian dollar will rise to 1.07 dollars throughout the next six months, and to 1.01 by the



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Market outlook 3 January 2013

Post by TradingForex.com on Thu Jan 03, 2013 12:27 pm



Currencies EUR/USD After a high ride of 1.33 a dollar, the euro fell 0.1 percent to 1.3186 dollars. The dollar has rose 0.3 percent reaching 1.3148 per euro. Over the past year, 2012, the euro has had an overall decline of 1.1 percent, while the dollar fell 3.3 percent.

USD/JPY Then yen continues to weaken, falling 0.7 percent to 87.34 per dollar, and has reached its lowest level since 29 July 2010 at 87.35. Today however the dollar has also weakened against other major currencies. The Yen’s 14 day relative strength index is at 17 versus the dollar.

AUD/USD After being one of the strongest currencies, since the passing of the legislation in the US to increase taxes and cut budgets on Wednesday the Australian dollar has suffered some losses and has fallen lower than the USD. The pair fell 0.18 percent to 1.0486 dollars.

GBP/USD The British pound has been gaining over the last month of last year, and has now risen to its highest level against the dollar in 16 months at 1.6381 dollars, before going down to 1.6252 dollars.

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Market News 4 Jan 2013

Post by TradingForex.com on Fri Jan 04, 2013 11:38 am


Currency EUR/USD For the second day the dollar stayed higher than the euro, with a 0.1 percent gain and traded at 1.3040 per euro at 5 pm New York time, making it its strongest level in three weeks. The dollar is expected to advance 1.19 dollars per euro by the end of the year.

USD/JPY The yen fell against most other major currencies including the U.S. dollar, and that marks its longest weekly loss since 24 whole years, with a 2.1 percent loss against the U.S. dollar. It fell to 87.83 per dollar, and at 7 am London time it fell further to 87.74 per dollar. The yen’s 14 day relative strength index fell to 16.6 against the dollar.

AUD/USD China’s decline has had a big impact on the Australian dollar as the country is Australia’s biggest trade partner. The Aussie fell to 1.0441 at 4:25 pm Sydney time, losing 0.2 percent from yesterday. Expectations are that the currency will not have a noticeable improvement until china starts to improve pulling it along.

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Market News 7 Jan 2013

Post by TradingForex.com on Mon Jan 07, 2013 11:06 am

Currencies EUR/USD The dollar gained 0.3 percent and rose to 1.3035 dollars per euro on the 4th of January. The dollar gained a weekley 0.7 percent increase while the euro lost 0.7 percent.

USD/JPY At 6 am London time the Yen gained 0.5 percent and rose to 87.73 per dollar. The yen's relative strength index versus the dollar fell to 15.5 on the 4th of January, its lowest since December 2001. The yen's continued shrinking has lead the country to take drastic measures, and it is expected that the extra budget which will be used to boost the economy will take around 5-6 trillion yen out of the public's work spending money.

AUD/USD The Australian dollar has gained against most of its counterparts. The yield of Australia's benchmark three-year government note went to 2.87 percent, its highest since the 17th of August 2012, and was 2 points lower than the 4th of January at 2.83 percent. The Australian dollar is expected to fall below 1 dollar this year, and weaken to 99 US cents by the end of the year.

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Market News 8 Jan 2013

Post by TradingForex.com on Tue Jan 08, 2013 11:09 am

Currencies EUR/USD The euro stayed strong versus the dollar, increasing 0.5 percent over the two past days, and it traded at 1.3119 dollars, at 12:26 pm London time, however it then suffered 0.2 percent loss and fell to 1.3042 dollars.

USD/JPY The yen has made a turn, and gained 0.5 percent reaching 87.36 per dollar, at 6:30 am London time. This is its strongest two day gain since the 8th of November, a positive change since four days ago it had hit its weakest price since July 2010. The Yen’s 14 day relative strength index against the dollar was at 27 today. The dollar fell 0.3 percent versus the yen and reached 87.55 per yen at 1:35 pm Tokyo time, Still the dollar displays signs of strength and is expected to advance to 94 yen; its strongest price in over two years.

AUD/USD The Australian dollar has slid after a three day gain. It fell 0.2 percent reaching 1.0478 dollars at 4:46 pm Sydney time. Speculations expect a 60 percent chance of the Reserve Bank of Australia lowering the benchmark interest rate from 3 percent this quarter.


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Market News 10 Jan 2013

Post by TradingForex.com on Thu Jan 10, 2013 12:45 pm


Currencies EUR/USD The euro slid 0.1 percent to1.3056 dollars. The euro which is considered in crisis, awaits its fate when the European Central Bank will meet on Thursday. The pair hit 1.3037 in the morning which is its lowest since Monday.

USD/JPY The Japanese yen has fallen once more against most of its counterparts. The two day loss has the currency losing 0.3 percent and falling to 88.17 dollars at 6:39 London time. On the 4th of January the currency had reached its lowest level in over two years.

AUD/USD
The Australian dollar has gained its three week high against the dollar. As imports and exports in China improve, its major trading partner Australia, has been positively affected and the country’s currency has been improving. The Aussie touched its strongest price since the 18th of December with 1.0555 dollars, before falling to 1.0552 dollars at 4:31 pm Sydney time, which is a 0.3 percent increase.

GBP/USD The British currency has suffered a big loss and has fallen lower than most of its counterparts, occupying the second to last spot. It reached its lowest level since the 30th of November at 1.5993 dollars, it then rose to 1.6012 dollars at 4:38 pm London time.



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Market News 11 Jan 2013

Post by TradingForex.com on Fri Jan 11, 2013 11:47 am


Currencies EUR/USD The euro reached its highest gain in five months against the dollar, even though yesterday’s European Central Bank’s meeting decided against changing interest level rates. The US dollar also did well being higher than a lot of the other major currencies, despite its drop. The pair was up by 1.42 percent yesterday at 1.3252.

USD/JPY The yen continues to drop, reaching its lowest level since the 29th of June 2010, at 89.35 per dollar, it dropped 0.3 percent from yesterday trading at 89.08 at 2:58 pm Tokyo time. This marks the yen’s longest loss period in over 20 years.

AUD/USD Once again China’s economical status has affected the Australian dollar which has fallen against most of the other major currencies, leaving behind its highest level in four months. It traded at 1.0590 dollars at 10:31 am Sydney time yesterday. It has climbed 0.8 percent over the past 24 hours, and reached its highest level since the 14th of September at 1.0599 dollars.

GBP/USD The British currency fell 0.28 percent against the dollar at 1.6015 dollars. The pair fell 0.13 percent to 1.6148 after the central British bank decided against making any changes in their benchmark rate. This happened after the pair had showed signs of improvement over the past two days.


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Market News 14 JAN 2013

Post by TradingForex.com on Mon Jan 14, 2013 11:19 am



Currencies EUR/USD The dollar has sunk to more than a 10 month low against the Euro, losing 0.3 percent and reaching its lowest since the 29th of February 2012 at 1.3404 dollars.

USD/JPY The yen reached its lowest level against the dollar since the 25th of June 2010 at 89.67 per dollar, the yen suffered a 5 percent fall from last week, and traded at 89.60 at 5:58 am London time.

AUD/USD The Australian dollar gained against most other currencies including the dollar, it reached 1.0557 dollars at 4:45 pm Sydney time a 0.2 percent increase.

GBP/USD The British pound fell against the US dollar, as it has struggled against most of its counterparts. The pair lost 0.06 percent and traded at 1.6122


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Market News 16 JAN 2013

Post by TradingForex.com on Wed Jan 16, 2013 10:24 am


Currencies EUR/USD The euro has had an alarming 8.4 percent gain against the euro over the past 6 months. It traded at 1.3306 dollars at 5 pm New York time, a 0.6 percent decrease, that is after it touched its highest in almost a year on the 14th of January with 1.3404 dollars.
USD/JPY The yen has had a two day gain, and in fact its highest in eight months. After its 0.8 percent gain yesterday it gained an extra 0.7 percent today and reached 88.19 per dollar, at 6:55 am London time.
AUD/USD The Australian dollar fell against the U.S. dollar and traded at 83.93 U.S. cents, dropping from yesterday’s 83.97. Earlier this week the Australian dollar was boosted when Federal Reserve chairman Ben Bernanke said he expects the central bank to continue its bond buying program.


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Market News 17 JAN 2013

Post by TradingForex.com on Thu Jan 17, 2013 10:17 am


Currencies EUR/USD The dollar has gained against its counterparts since yesterday. The euro rose to 1.3297 dollars. The EUR/USD pair lost 0.09 percent and fell to 1.3293. The pair is expected to find support at 1.3037, and resistance at 1.3403.
USD/JPY The yen’s two day gain fell short when it lost 0.3 percent and dropped to 88.64 per dollar at 3:31 pm Tokyo time. The pair lost 0.08 percent in Asian trading and fell to 88.31. Expectations have the bank of Japan adjusting its inflation target to 2 percent, when the two day meeting occurs on January 21.
AUD/USD The Australian dollar fell against most other currencies, and that is mainly due to the high rates of unemployment that the country is suffering. The Aussie lost 0.6 percent and fell to 1.0513 dollars at 5:17 pm Sydney time. The AUD/USD pair also lost 0.63 percent, and fell to 1.0506.


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