Daily Market News by TradingForex.com

[TradingForecom2012]

Tue, 02 Oct 2012

The dollar fell against most major currencies on Tuesday after solid U.S. manufacturing data published earlier, sparking a risk-on trading session. In the U.S. earlier, the Institute of Supply Management's U.S. purchasing managers' index beat expectations in September, rising to 51.5 from 49.6 in August. Analysts had expected the ISM manufacturing PMI to rise to 49.7 last month. The news boosted spirits in global markets, enticing investors out of the safety of the U.S. dollar and into higher-yielding currencies and stocks. Meanwhile, the euro and other currencies saw demand after Spain's finance minister reportedly said the country was studying financial aid game plans with the European Central Bank. Spain announced recent bank stress tests revealed financial institutions need just shy of EUR60 billion to return to health, and European Union Commissioner Olli Rehn said earlier that he doesn't expect bank recapitalization efforts to affect the country's structural deficit. Rehn added the country's 2012 deficit target is within reach. Further fueling the risk-on session, the euro zone unemployment rate remained unchanged at 11.4% in August, in line with expectations.

[TradingForecom2012]

Published On: Wed, 03 Oct 2012

The dollar rose against most major currencies on Wednesday after investors sought out the safe and liquid greenback to await official news over a Spanish bailout. Concerns retail sales in Europe due out later may disappoint sparked demand for the dollar as well. A Reuters report that Spain may request a bailout in the coming days bolstered the euro early, even though Germany was reportedly urging Madrid to hold off. A bailout could open the door for the European Central Bank to buy sovereign Spanish debt carrying maturities of up to three years, which would lower borrowing costs in the crisis-weary country. Yet until Spain requests a bailout or rejects plans to do so, uncertainty will keep the currency moving up and down in choppy trading, as was the case on Wednesday. European policymakers are due to hold a summit later this month, and anticipation of announcements concerning Spain and other crisis-related issues moved the euro up and down against safe-haven currencies such as the dollar. Later Wednesday, the euro zone will release retail sales figures, and concerns the data may disappoint sent the euro and other higher-yielding dipping against the greenback as did a Reserve Bank of Australia decision to cut benchmark interest rates to by 25 basis points to 3.25%. Meanwhile in the U.S., payroll processor ADP will release its September report on private-sector hiring on Thursday while on Friday, the U.S. Department of Labor will release the country's official September jobs report. Uncertainty over the health of the U.S. labor market sent investors to the greenback as well. However, the Federal Reserve is currently running a third round of quantitative easing, a monetary stimulus tool that sees the U.S. central bank buying USD40 billion in mortgage-backed securities a month to spur recovery. Such policy tools weaken the greenback, which dampened the dollar's gains on Wednesday. Later Wednesday, the U.S. will release industry data on non-farm employment change, followed by a report by the Institute for Supply Management on non-manufacturing activity, as well as government data on crude oil stockpiles.

[TradingForecom2012]

Published on: 04/10/2012

Euro Firm ahead of ECB Meeting

Main focus today will be on ECB meeting. The ECB would very likely leave its policy rate unchanged at the October meeting. In fact, after the announcement of the OMT in September and release of the meeting statement, we expect policymakers would leave interest rates unchanged for the rest of the year unless economic data suggests that more downside risks would be seen on economic growth and inflation.

BoE will also announce monetary policy decision today. Interest rates will remain at 0.5%, and the asset purchase program at GBP 375b. The quantitative easing program is expected to be expanded once again after the latest GBP 50b program completes in November.

FOMC minutes would also be featured today. This minutes is particularly important as Fed announced the effectively unlimited QE3 program during the meeting. Markets perceived that as an important move towards adopting an explicit target for unemployment rate.

[TradingForecom2012]

Published on: 05/10/2012

The Bank of Japan held off from more easing after adding to stimulus last month, preserving its policy firepower despite increased political pressure and signs of an economic contraction. The BOJ kept its asset-purchase fund, the main policy tool amid near-zero rates, at 55 trillion yen ($700 billion), the bank said in a statement in Tokyo today. Attention now turns to the next meeting on October 30 as Morgan Stanley and Credit Suisse AG forecast two straight quarters of economic contraction through year-end. Economy Minister Seiji Maehara attended today’s central bank meeting, the first minister to do so for over nine years, adding to pressure on BOJ Governor Masaaki Shirakawa. Japan’s central bank kept its benchmark interest rate between zero and 0.1 percent and monthly bond purchases at 1.8 trillion yen.

[TradingForecom2012]

Published on : 08/10/2012

The dollar rose against most major currencies on early Monday after investors spent the weekend digesting a stronger-than-expected U.S. September jobs report, concluding the numbers did not indicate significant recovery was taking shape in the U.S. economy.

The U.S. unemployment rate fell to 7.8% percent in September from 8.1% in August, the Bureau of Labour Statistics reported Friday.

Employers added a net 114,000 jobs in September, while households reported that total employment rose by 873,000 in September following three months of little change.

Meanwhile, the creation of just 114,000 new nonfarm payrolls reflected no major improvement from previous monthly jobs reports, investors concluded, which prompted many to take up long dollar positions early in Asian trading.

Elsewhere, demand for safe-haven currencies like the dollar rose ahead of the release of output data out of Germany, Europe's largest economy.

Germany will release month-on-month industrial output figures later in the day and until the numbers hit the wire, investors opted for safe-haven currencies such as the yen and the dollar.

A group of eurozone finance ministers are due to meet on Monday in Brussels, and investors sold the euro to await any policy announcements that may come from the talks.

[TradingForecom2012]

Published : 09/10/2012

The dollar fell against most major currencies on early Tuesday after investors sold the unit for profits. The greenback rose earlier amid a risk-off session sparked by World Bank and International Monetary Fund cuts to growth forecasts, though profit-taking sent the currency softening somewhat.

The World Bank earlier said it had cut its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%. The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%. The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.

E.U. ministers are holding talks this week over how to firewall and extinguish the debt crisis, while German Chancellor Angela Merkel is making her first trip to Greece since 2007.

Merkel's visit takes place as representatives from Greece's Troika of international creditors — the ECB, the European Commission and the International Monetary Fund — mull whether the country is meeting terms required to receive its next shot of financial aid.

Later Tuesday, eurozone finance ministers will hold talks to discuss ways to firewall and extinguish the debt crisis.

[TradingForecom2012]

Published on: 10/10/2012

The dollar rose against most major currencies on early Wednesday as fears grew the global economy continues to cool after the International Monetary Fund trimmed growth forecasts for the world economy.

The euro and other higher-yielding currencies fell after investors sold and jumped to the side-lines ahead of the release of French and Italian industrial production data.

Uncertainty elsewhere in Europe also kept investors in the safety of the greenback.

Protestors clashed with police in Athens to mark German Chancellor Angela Merkel's visit to Greece, as the German leader urged Greeks to stick with austerity measures, adding the country will be better off in the long run.

Uncertainty over whether Spain will seek a bailout made the liquid dollar an attractive safe haven even more.

The dollar also saw gains against the euro and elsewhere as investors sold stocks and braced for U.S. third-quarter earnings, which hit the wire beginning this week.

In the U.S. later Wednesday, the Federal Reserve is to publish its Beige Book, which outlines current economic conditions.

[TradingForecom2012]

Yuan steady, Chinese firms sell dollars after post-holiday influx

The yuan held steady on Wednesday as corporates sold dollars, which had flooded in since China's onshore market resumed trading on Monday after a week-long holiday last week

, traders said.

The post-holiday influx of dollars had put off a long-anticipated correction in the yuan, they said, and had helped the Chinese currency defy a rally in the dollar in global markets.

Spot yuan traded at 6.2873 versus the dollar at midday, after moving in a narrow range of 6.2866 and 6.2899, little changed compared with Tuesday's close of 6.2878.

[TradingForecom2012]

GBP/USD hit 1.6034 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.6015, adding 0.07%.

Cable was likely to find support at 1.5960, the low of September 10 and resistance at 1.6083, the high of September 11.

EUR/USD hit 1.2913 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.2897, inching up 0.09%.

The pair was likely to find near-term support at 1.2802, the low of October 1 and resistance at 1.2990, Tuesday’s high.

USD/CHF pulled back from 0.9431, the session high, to hit 0.9390 during European afternoon trade, slipping 0.13%.

The pair was likely to find support at 0.9321, Tuesday’s low and resistance at 0.9431, the session high and a seven-day high.

[TradingForecom2012]

Published on: 12/11/2012

The U.S. dollar traded sharply lower against its rivals Thursday, after official data indicated U.S. initial jobless claims fell to their lowest level since February 2008 last week.

The U.S. Department of Labour said the number of individuals filing for initial jobless benefits last week fell by 30,000 to a seasonally adjusted 339,000, compared to expectations for an increase of 1,000 to 370,000. The previous week’s figure was revised up to 369,000 from a previously reported 367,000. A separate report showed that the U.S. trade deficit widened to USD44.2 billion in August, broadly in line with market expectations, as imports outpaced exports.

Earlier Thursday, the minutes of the Bank of Japan’s September meeting indicated that some policymakers were leaning towards more aggressive easing measures, boosting expectations that the central bank may ease policy again later this month.

The euro remained supported amid hopes that a ratings downgrade on Spain by Standard & Poor’s would force Madrid to formally request a bailout, which investors hope will ease the debt crisis in the euro zone.

In Canada, official data showed that the trade deficit narrowed to CAD1.3 billion in August, compared to expectations for a deficit of CAD2.0 billion.

The Australian dollar remained supported after official data showed that the country’s economy added 14,500 jobs in September, easily beating expectations for an increase of 3,800.

[TradingForecom2012]

EUR/USD was trading at 1.2939, up 0.09% at time of writing.

The pair was likely to find support at 1.2932, today’s low, and resistance at 19.3300, Monday’s high.

EUR/GBPwas trading at 0.8066, up 0.09% at time of writing.

The pair was likely to find support at 0.8023, Thursday’s low, and resistance at 0.8099, Tuesday’s high.

USD/JPY was trading at 78.40, up 0.08% at time of writing.

The pair was likely to find support at 77.95, Thursday’s low, and resistance at 78.71, Monday’s high.

EUR/JPY was trading at 101.54, up 0.27% at time of writing.

The pair was likely to find support at 100.15, Thursday’s low, and resistance at 102.45, Monday’s high.

[TradingForecom2012]

Daily Morning Report 24/10/2012

Moody’s Investors Service cut the ratings of five Spanish regions while sparring the federal government’s rating from. Both Italian and Spanish bond yields have moved higher while equity markets have tumbled, weighing on the Euro and other high beta currencies.

The FOMC began its two day meeting as traders will wait to see their assessment of the US economy. Also some of the QE introduced last month by the Fed was tied directly to unemployment and with the rate dropping to 7.8% as reported earlier this month.

Reserve Bank of Australia monetary easing over the last six months as policy officials gashed the cost of capital in May, June and October this year in an attempt to counter the economic slowing happening in China and Europe.

The yen earlier in the global session hit a three-month low against the dollar and a five-month trough versus the euro on expectations that the Bank of Japan will further loosen policy later this month.

The bank of Canada held its rate on hold at 1%, as expected but the real good news came along with the release of the policy statement that stated that interest rate hike may be in the cards in the near future

[TradingForecom2012]

Currencies

EUR/USD The dollar gained 0.1 percent to $1.2974 per euro at 5 p.m. New York time and touched $1.2921, the strongest level since Oct. 15. It was little changed at 79.81 yen. Europe s shared currency fell 0.1 percent to 103.54 yen.

USD/JPY Japan ’s currency fell 0.2 percent to 79.98 per dollar as of 1:44 p.m. in Tokyo from the close in New York, nearing the three-month low of 80.01 reached on Oct. 23. It dropped 0.3 percent to 103.81 per euro. The 17-nation euro fetched $1.2980 from $1.2974 yesterday, when it reached $1.2921, the weakest level since Oct. 15.

GBP/USD Pound Sterling gained 0.7 percent to 80.89 pence per euro at 4:23 p.m. London time, posting the steepest intraday advance since July 5, after reaching 81.65 pence on Oct. 22, the weakest since June 11. Sterling rose 0.4 percent to $1.6023.

Commodities

Crude Oil Crude for December delivery was at $86.05 a barrel in electronic trading on the New York Mercantile Exchange, up 32 cents, at 1:30 p.m. Singapore time. The contract settled at $85.73 yesterday, the lowest since July 10. Prices are down 13 percent this year.

Brent oil Brent oil for December settlement on the London-based ICE Futures Europe exchange was at $108.12 a barrel, up 27 cents. The European benchmark crude was at a premium of $22.05 to New York-traded West Texas Intermediate grade, from $22.12 yesterday.

Gold Spot gold climbed as much as 0.4 percent to $1,708.85 an ounce and was at $1,706 at 12:06 p.m. in Singapore. The metal slumped to $1,699 yesterday, dropping below $1,700 for the first time since Sept. 7, as the European Central Bank warned about the risk of deflation in some countries.

[TradingForecom2012]

Currencies

GBP/USD The pound climbed the most in three weeks against the dollar after Britain’s economy expanded by more than analysts forecast in the third quarter, pulling the nation out of a recession.

The pound added 0.6 percent to $1.6128 at 4:21 p.m. London time, after rising as much as 0.7 percent, the steepest gain since Oct. 4.

USD/JPY The dollar may strengthen to a six- month high against the yen should it break through a level of so-called resistance, Credit Suisse Group AG said, citing trading patterns.

The dollar gained 0.5 percent to 80.20 yen at 4:15 p.m. London time, extending this month’s advance to 2.9 percent. The U.S. currency last traded at 81.49 yen was on April 25.

Commodities

Gold climbed the most in three weeks as Brazil and Turkey’s central banks increased holdings of the precious metal and amid signs that purchases are rising in India, the world’s biggest buyer.

Gold futures for December delivery advanced 0.7 percent to settle at $1,713 at 2 p.m. on the Comex in New York, the biggest gain for a most-active contract since Oct. 4.

OIL

Crude for December delivery was at $86.01 a barrel, down 4 cents in electronic trading on the New York Mercantile Exchange at 10:44 a.m. in Tokyo. It rose 32 cents yesterday to settle at $86.05. Prices are down 13 percent this year. Prices have declined 4.3 percent this week, set for a second weekly drop.

Brent

Brent oil for December settlement on the London-based ICE Futures Europe exchange was at $108.53 a barrel, up 4 cents. The European benchmark crude increased 64 cents, or 0.6 percent, to end the session at $108.49 yesterday. It was the first gain in eight days, ending the longest losing streak since July 2010

Technical Analysis and Indicator 10/26/2012

EUR/USD , USD/JPY , GBP/USD , USD/CHF

http://www.tradingforex.com/blog/ind...nical-analysis

[TradingForecom2012]

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.

[TradingForecom2012]

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.

[TradingForecom2012]

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.

[TradingForecom2012]

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.

[TradingForecom2012]

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.

[TradingForecom2012]

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.

[TradingForecom2012]

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.

[TradingForecom2012]

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

[TradingForecom2012]

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.

[TradingForecom2012]

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.

[TradingForecom2012]

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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