UFXMarkets *Daily Forex Currency Trading News* 25-April-2012

Uploaded by UFXMarkets on 25.04.2012

Hello, it's Wednesday, 25 April 2012 and I'm Martin Smith with the daily outlook from UFX
Stock markets finished mixed with a tendency to inclines following stronger than expected
New Home Sales in the U.S. The Dow gained by 0.58%, NASDAQ declined by -0.30% and S&P
500 rose by 0.37%. Apple reported their earnings after the close and jumped by more than 7%
in afterhours trading, lifting the NASDAQ higher.
The US Dollar weakened versus the Euro and the Pound after successful bond sales in Spain,
Italy and the Netherlands lowered risk aversion and fears of worsening in the European debt
crisis. Gold has been trading in a tight range for most of the day and a rise in volatility
could spur a breakout. It keeps trading between the 1655 resistance level and the 1630 support.
Crude finished slightly higher at 103.65$ a barrel.
The Euro gained versus the Dollar after successful bond auctions lowered fears of worsening in
the debt crisis. The Euro keeps facing strong resistance around the 1.3230 level, which
unless broken could lead it to fall back to 1.30.
The Pound remained strong versus the Dollar as optimism regarding today’s GDP report
remained high. Investors bet on a positive GDP that will show a return to growth in Britain’s
economy which could accelerate a withdrawal in BOE’s asset purchases program. The GBP/USD
is near a strong resistance level at 1.6160 which if breached could lead to continuance
of the rally. Today, GDP is expected with 0.1% versus -0.3% prior.
The Australian Dollar continues being battered due to weak economic conditions, and keeps
trading on a downward channel. Breaking the strong support level of 1.0200 could cause
it to test the next support level of 1.0100.