Hello Its Wednesday November 16th , and I’m Nathalie Woods with UFX Markets daily news
The Dollar advanced against the major currencies as positive data from the US came out better than expected. Retail Sales came out at 0.5% vs. 0.3% and Core Retail Sales at 0.6% vs. the expected 0.2%. Empire State Manufacturing Index released positive at 0.6 vs. the forecasted -2.0. Wall Street closed positive as NASDAQ increased by 1.09% and the Dow Jones by 0.14%. Crude oil rose by 1.3%, closing at $99.37 a barrel. Gold increased by 0.20%, closing at $1782 an ounce. Today, CPI is expected at 0.0% vs. the forecasted 0.3% and Core CPI expected to remain unchanged at 0.1%.
The Euro fell to a one month low against the Dollar as Spain and France prepare to sell notes after Italy led a slump in euro-area debt, signaling the spread of Europe’s crisis. As long as the EUR/USD is trading below 1.3640 the momentum is very negative for the Euro and probably will continue to decrease. The next support level on the one hour chart is located at 1.3400. Overall, the EUR/USD traded with a low of 1.3436 and with a high of 1.3640. The EUR/USD last traded at 1.3460.
The Pound decreased versus the Dollar as negative data such as the CPI fell to 5.0% vs. the 5.2% from October and RPI weakened to 5.4% vs. last month’s 5.6%. As long as the GBP\USD is trading below the 1.5900 level the Pound will continue to be bearish. Overall, the GBP/USD traded with a low of 1.5799 and with a high of 1.5931. The GBP/USD last traded at 1.5770.
The Yen strengthened against most of the major currencies as the European debt crisis continues to cover headlines, causing investors to stick with the Yen as a refuge. The USD/JPY is trading within a very narrow range and without specific momentum and only if the pair breaks the 76.80 will the Yen be attractive again. Overall, the USD/JPY traded with a low of 76.90 and with a high of 77.33. The USD/JPY last traded at 77.05.
The Canadian Dollar decreased versus the US Dollar for a second day due to concern that the sovereign debt crisis in Europe is spreading. In addition, Manufacturing Sales came out better than expected at 2.6% vs. the forecasted 1.1%, succeeding to erase some gains from the US Dollar. As long as the pair is trading above the 1.0160 level the US Dollar’s momentum is positive. Overall, the USD/CAD traded with a low of 1.0158 and with a high of 1.0262. The USD/CAD last traded at 1.0270.
Thank you for joining us today. For more information please visit us at www.ufxmarkets.com for all your online trading needs. I’m Nathalie Woods wishing you a happy trading
Hello, It’s Wednesday, November 16th n and I’m Nathalie Woods with Maxiforex daily news.
Thank you for joining us today. For more information please visit us at Maxiforex.ru for all your online trading needs. I’m Nathalie woods wishing you a happy trading
