Daily Market update by UWC

03.12.10

During the European session today the Euro recovers on expectations of government bonds purchasing. According to market talks the European Central Bank is going to buy Portuguese and Irish government bonds. Due to these talks, the Eur/Usd rose above 1.3252. Also this tendency has been supported by stable figures of Eurozone such as PMI and retail sales which increased.

This entire situation with European countries debts raised market expectations in a high oil demand that's why the oil prices skyrockets today and fixed around the record level of $88 per a barrel.

Also the gold demonstrates a strong upward trend generated by US inflation anxiety and all other factors dominated the world markets.

The GBP rebounds and moves higher today. Currently the GBP/USD pair tries to test and break its week high at 1.5665. If this level is passed, the pair will find the resistance at 1.5770.

06.12.10

After Ben Bernanke speech, the dollar was up on the world markets. The FED president confirmed that the Federal Reserve is prepared to take all necessary measures to avert the recession.

Under the pressure of debts situation with some euro zone countries, the EUR/USD is down again and keeps its bearish trend. Currently the pair is trading near 1.3260.

The US economy recovery problems, European countries debts: all these factors raise investors attentions toward safe-haven assets as the gold. Today the gold prices increased and reached a new high.

The USD/JPY remains in general downside trend and currently is trading below 83.00.

07.12.10

Due to the Barack Obama proposal on cutting the taxes for the citizens, the US stocks were trading higher today in the morning. Investors liked the idea and the prices of oil, gold and commodities rose on the markets.

But never the less the dollar was lower today against the competitors because all market participants are expecting the Irish Budget approval which can clear up the situation to take further decisions.

The Eur/Usd is on its way toward the new resistance 1.3447, if the pair breaks this level it would be a confirmation for the next highs.

After the yesterday's loses the British pound demonstrates strength today based on the positive manufacturing figures in UK. Currently the USD/GBP is trading around 1.5800 area.

exactly after your analysis market turns...

that is not personally for sure, just a fact, I've just saw that thread

cheers

08.12.10

The Asian markets were in a state of uncertainty today. Because of the weak Yen the Japanese stocks rebound.

The USD/JPY consolidates and recoups its losses. The pair is aiming to reach the session high at 84.00.

The European markets opened lower today based on sovereign debts problems predominated over other issues.

The Oil falls and reaches record lows because of markets fears about European debts. The worries regarding Europe's economy situation are still very powerful.

The US dollar grew against its main rivals after Barack Obama decided to prolong tax cuts policy. The base metals rose on this event on expectations that this tax cuts measures will create a demand for the metals.

09.12.10

The government of Japan has announced that Japanese economy remains the second biggest world economy after the US.

The Euro consolidates against the US dollar and recovers from its low levels of this week. Currently the Eur/Usd is trading near 1.3300 area.

During Asian session British pound rebounds and goes back to levels above 1.5800. But currently GBP/USD has a bearish trend and it's necessary to watch the support level for further decisions.

After reaching the high level at 84.40, the USD/JPY returned and was fixing below 84.00.

10.12.10

Thanks to the upbeat US trade balance data, the USD rose across the trading sessions today. The US trade managed to reduce.

Pressed by positive US trade figures, the Eur/Usd fell to the session lows. Currently the pair is trading next to1.3220 area. If the pair would drop more, the support will lie at 1.3165 and 1.3000. Otherwise the pair will go toward its resistance level above 1.3280 which is a session high.

The USD/JPY has been boosted by US trade figures and reached a new daily high level (83.94). Now the pair will be faced with resistance above 84.40.

As all US dollar rivals the GBP dropped today against the dollar. Therefore the pound lost its positions and was returning to the levels of the morning.

20.12.10

The EUR/USD still follows downside. The pair is under bearish pressure because of the European debts situation and conflict in Korea.

The USD/JPY reaches a new daily low level at 83.64. And before the new session opening the pair remains to trade in downward.

The GBP consolidated across the trading sessions today but after lost some of gains. Just before the US session opening the GBP/USD is trading next to 1.5550.

The demand of oils has been supported by a dangerous situation with weather in USA and Europe. Today in the morning the oil contracts were traded at $89.20 per a barrel.

23.12.10

The Eur/Usd started this trading day by reaching low levels below 1.3100 area. If the pair continues to drop the next support lies at 1.3055, if the pair bounces and rises the next resistance is at 1.3150.

The Euro loses positions against the JPY because of still uncertain situation with European countries debts.

The USD/JPY is lower today. The USD lost gains against the JPY and reaches new lows. The pair is trading below 83.00.

The GBP/USD is approaching new session lows below the level of 1.5400.

The demand for oil rises and the prices return above $90. At this point the price finished yesterday's trading.