UFXMarkets -Daily Gold & Forex Trading News-20-December-2011


Uploaded by UFXMarkets on 19.12.2011

Transcript:
Hello, it's Tuesday, December 20, 2011, and I'm Martin Smith with the daily outlook from
UFX Markets. The US Dollar traded mixed against most major
currencies amid concern European officials were failing to make progress in taming the
debt crisis. Wall Street closed negative as the Dow declined by 0.84% and the Nasdaq fell
by 1.26%. Crude oil rose by 0.40%, closing at $94.20 a barrel. Oil rose over concerns
that geopolitical tensions will increase now the son of Kim Jong Il took has taken power
in North Korea. Gold (XAU) fell by 0.30%, finishing at $1593.00 an ounce.
The Euro closed unchanged against the US Dollar as investors look for signals regarding the
euro economy. The EUR/USD momentum is bearish as long as the pair is trading below the resistance
level of 1.3080. Overall, the EUR/USD traded with a low of 1.2982 and a high of 1.3043.
Today, German PPI is expected to grow by 0.1% vs. 0.2% previously.
The Pound strengthened against the greenback after the pair failed to break its 1.5450
support. As long as the GBP\USD is trading below the 1.5590 level, the Pound’s momentum
is bearish with the next support level on the one hour chart located at 1.5460. Overall,
the GBP/USD traded with a low of 1.5464 and a high of 1.5544. Today, CBI Realized Sales
are expected to show -14 vs. -19 previously. The Yen fell against the US Dollar amid increased
demand for the US currency as a safe haven due to the death of North Korean dictator
Kim Jong Il. The USD/JPY is still trading within a narrow range and as long it stays
above 77.25, the Dollar is the more attractive. The next resistance level is at 78.25. Overall,
the USD/JPY traded with a low of 77.81 and a high of 78.16. No economic data is expected
today. The Canadian Dollar swung between gains and
losses versus its U.S. counterpart as crude oil and stocks reversed earlier advances,
muddying the outlook for currencies tied to growth. As long as the pair is trading above
1.0300, the US Dollar’s momentum is positive. Overall, the USD/CAD traded with a low of
1.0297 and a high of 1.0406. Today, Core CPI is expected to grow by 0.2% vs. 0.3% previously.
Well, that's it from me. Be sure to visit us at ufxmarkets.com for all your online trading
needs.