The US Dollar strengthened versus most of the majors after worse than expected Payrolls data. The market added 120 thousand jobs while the forecast predicted 125 thousand jobs. On the other hand, the unemployment rate unexpectedly dropped to a 2.5 year low from 9% to 8.6%. Wall Street closed with a mixed trading week mixed as  the NASDAQ rose by 0.03% and the Dow Jones declined by 0.01%. Crude oil rose to a two-week high by 1.00% and closed at $101 a barrel amidst concern that tension between Iran and the West will intensify, threatening shipments from OPEC’s second-biggest crude producer. Gold rose by 0.10%, closing at $1, 746 an ounce.

The Euro fell versus the Dollar after the US unemployment rates unexpectedly dropped to a 2 and a half year low. However, the pair erased it’s loss on speculation that the Italian cabinet may pass new budget cuts and tax increases valued at 24 billion euros to shore up the country’s finances. Most of the attention will be focused at the European summit this week where the region’s leaders will try to resolve their sovereign-debt crisis. Trading above the support level of 1.3380 will keep the momentum of the pair positive, but if the pair breaks below this support level, it may reach the 1.3280 level again. Overall, the EUR/USD traded with a low of 1.3360 and with a high of 1.3549. The EUR/USD last traded at 1.3420.

The British Pound fell versus the Dollar after the release of the US economic data last Friday. The trend for the pair will remain bearish if the pair maintains its resistance level of 1.5620. However, if the pair breaks that resistance, it may reach the 1.5720 level again. Overall, the GBP/USD traded with a low of 1.5576 and with a high of 1.5725. The GBP/USD last traded at 1.5600.

The Yen finished lower versus the Dollar amid an improvement in market sentiment. Technically, if USD/JPY will maintain it’s support level of 77.70, the trend will continue to be bullish. As a result the pair may test it resistance level of 78.20. The USD/JPY last traded at 77.90.

The Canadian Dollar declined versus the U.S Dollar on Friday due to a worse than expected Unemployment Rate which rose to 7.40% vs. the previous 7.30%. The trend for the pair will continue to be bullish if the pair maintains its support level of 1.0140. The USD/CAD last traded at 1.0170.

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The US Dollar fell versus most of the other majors after six central banks led by the Federal Reserve made it cheaper for banks to borrow dollars in emergencies in a global effort to ease Europe’s sovereign-debt crisis. Wall Street ended on a positive note as the NASDAQ jumped by 4.17% and the Dow Jones gained by 4.24%. Crude oil rose by 97 cents closing at $100.38 a barrel. Gold increased by 30% and finished at $1746 an ounce. The Crude Oil Inventories came out 3.9M higher than expected.

The Euro increased versus the US Dollar as the central banks cut the cost of borrowing dollars yesterday. The pair is facing a resistance at 1.3520 on the 2 hour chart. If this resistance breaks, the rate could reach 1.3600 until Friday. Overall, the EUR/USD traded with a low of 1.3258 and with a high of 1.3532. The EUR/USD last traded at 1.3452.

The British Pound gained versus the US Dollar.  As long as the GBP\USD is trading above the 1.5680 level, the British Pound remains bullish. If the pair breaks down below the support level at 1.5680 we’ll probably see the pair declining towards 1.5600. Overall, the GBP/USD traded with a low of 1.5527 and with a high of 1.5779. The  GBP/USD last traded at 1.5694

The Yen raised versus the US Dollar as the US Dollar weakened against most of the currencies. The USD/JPY’s trend became negative after breaking the 77.50 level and as long as the pair is trading above this level the US Dollar continues to be bullish. Overall, the USD/JPY traded with a low of 77.28 and with a high of 77.14. The USD/JPY last traded at 77.67.

The Canadian currency rose the most since May 2010 as central banks reduced the cost of emergency dollar funding to ease Europe’s sovereign-debt crisis, buoying riskier assets.  As long as the pair is trading above the 1.01 level, the US Dollar’s momentum is still positive. the next resistance level on the one hour chart is located at 1.0220 and breaking this level will probably cause the pair to rise towards 1.0300. Overall, the USD/CAD traded with a low of 1.0122 and with a high of 1.0326. The USD/CAD last traded at 1.0187  .                                              

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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.                                                             

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Hello, It’s Wednesday, November 16^th n and I’m Nathalie Woods with Maxiforex daily news.

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The US Dollar strengthened versus most majors as an increase in Italian borrowing costs deepened concern  that Europe will struggle to contain its sovereign debt crisis. Wall Street closed negative snapping a two-day advance as the NASDAQ fell by 0.80% and the Dow Jones by 0.61% . Crude oil declined by 0.80%, closing at $98.10 a barrel. Gold fell by 0.45% closing at $1780 an ounce. Today, Core Retail Sales are expected to grow by 0.20% vs. the previous 0.60% and PPI is expected to decline by 0.10% vs. the prior 0.80%.

The Euro dropped for the first time in three days versus the US Dollar as Europe’s intensifying debt crisis is becoming harder to contain. There is concern that it may be too late for European leaders to turn the region’s sovereign-debt crisis around. The momentum of the EUR/USD will continue to be bearish as long as it remains below the 1.3700 resistance level. Overall, the EUR/USD traded with a low of 1.3591 and with a high of 1.3808. The EUR/USD last traded at 1.3620.

The British Pound fell versus the US Dollar. The trend for the pair remains bearish if it remains below the 1.5950 resistance level. Overall, the GBP/USD traded with a low of 1.5868 and with a high of 1.6092. Today, CPI is expected to grow 5.10% vs. the previous 5.20%. The GBP/USD last traded at 1.5890.

The Yen traded unchanged versus the US Dollar due to the fact that investors are looking for signals of new intervention. Technically, the USD/JPY is trading within a narrow range with no clear long term trend. If the pair breaks below the 77.00 level, the trend will continue downwards.  The USD/JPY last traded at 77.15.

The Canadian Dollar fell against its U.S. counterpart on concern that European nations may have difficulty repaying their debt, discouraging demand for higher-yielding assets. The USD/CAD’s momentum is bullish if it remains above the support level of 1.0120. Today, Manufacturing Sales is expected grow by 1.10% vs. the previous 1.40%. The USD/CAD last traded at 1.0170.

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Hello, It’s Tuesday, November 15^th and I’m Nathalie Woods with Maxiforex daily news.

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The US Dollar fell versus most majors as euro-zone fiscal tensions declined due to the approval of the debt reduction crisis by the Italian Senate In a bid to cut the country’s debt of 1.9 trillion. Wall Street closed positive as the NASDAQ plunged by 2.04% and the Dow Jones by 2.19%. Crude oil rose, capping the longest streak of weekly advances since April 2009 by 1.1%, closing at $98.90 a barrel. Gold rose by 1.60% closing at $1788 an ounce.

The Euro strengthened for a third day versus the US Dollar amid optimism that European leaders are tackling their debt crisis after Italy’s Senate approved an austerity bill yesterday and Greece swore in a new prime minister. In addition, the higher-yielding currencies extended gains as former European Union Competition Commissioner Mario Monti may lead Italy’s new government. The momentum of the EUR/USD is still bullish as long as it is remains above the 1.3650 support level. Overall, the EUR/USD traded with a low of 1.3482 and with a high of 1.3808. The EUR/USD last traded at 1.3780.

The British Pound strengthened versus the US Dollar amid optimism that European officials are taking steps to address the region’s debt crisis. The trend for the pair remains bullish if it remains above the support level of 1.6020. The pair is facing many resistance levels between the 1.61 to 1.62 levels. Overall, the GBP/USD traded with a low of 1.5868 and with a high of 1.6092. The GBP/USD last traded at 1.6070.

The Yen reached its strongest level versus the dollar at the end of the week since Japan intervened last month, touching 77. There are indications that the Bank of Japan stepped away from intervening after the G-20 summit. But now that the risk of intervention is reduced, there are expectations for the yen to recuperate the losses it sustained. Technically, the trend for the pair remains bearish if it remains below the resistance level of 77.50. The USD/JPY last traded at 77.15.

 The Canadian Dollar strengthened versus the US Dollar as stocks ended the day higher and crude oil, the nation’s biggest export, rose. The USD/CAD’s momentum is bearish if it remains below the resistance level of 1.0170. If the pair breaks the resistance level it may reach  1.0250 again.  The USD/CAD last traded at 1.0130

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Hello, It’s Monday, November 14th and I’m Nathalie Woods with Maxiforex daily news.

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The Euro closed unchanged versus most of the major currencies after Slovakia failed to pass the Rescue plan. “Troika” said today that the IMF and the ECB will be transferring another aid package of 8 billion to Greece at the beginning of November.  Trading below the resistance level of 1.3700 will keep the momentum of the pair negative, but if the pair breaks above this level, it may reach 1.4060 again. Overall, the EUR/USD traded with a low of 1.3564 and a high of 1.3683. Today, ECB President, Trichet is expected to speak.

The British Pound fell versus the US Dollar after Manufacturing Production came out -0.3% worse than the expected -0.1%. The trend for the pair remains bearish if it maintains its resistance level of 1.5730, but should the pair break this it may reach 1.5950 again. Overall, the GBP/USD traded with a low of 1.5573 and a high of 1.5668.

The Yen closed unchanged versus the US Dollar and most majors.  Core Machinery Orders came out better than expected 11% vs. 4.7% forecast. Technically, the USD/JPY is trading within a narrow range with no clear long-term trend. If the pair breaks below the 76.00 level, the trend will continue downwards. Today no major economic data is expected.

Canada’s dollar fell versus the greenback as concern that European officials may fail to halt the region’s sovereign-debt crisis cut demand for currencies tied to growth, and that the contagion may  spread to banks. Housing Starts came out 206K better than expected at 187K.  The trend for the pair is bearish if it maintains its resistance level of 1.0330. According to the 2-hour chart, the pair has strong support at 1.0250.

The US Dollar fell versus most of the major’s counterparts as global stocks advanced, sapping demand for the greenback as a haven and causing investors to prefer higher yielding assets. Wall Street closed positive as the NASDAQ advanced by 3.50% and the Dow rose by 2.97% on optimism Europe will tackle its debt crisis and after American economic data improved. Crude oil closed at $85.40 a barrel. Gold (XAU) jumped by 2.38%, closing at $1,675 an ounce. No economic data is expected today.

The Euro strengthened the most in more than a year versus the US Dollar after French and German leaders pledged to deliver a plan to support banks and repeated a commitment to keep Greece in the single-currency bloc. After the announcement optimism came back into the market, so the euro stayed higher even as a report showed European investor confidence fell to the lowest in more than two years. Overall, the EUR/USD traded with a low of 1.3377 and with a high of 1.3697. Today, ECB President, Trichet is expected to speak.

The British Pound gained versus the US Dollar after German Chancellor Angela Merkel and French President Nicholas Sarkozy announceed that they will deliver a plan to recapitalize the region’s banks and address the Greek crisis. The trend for the pair remains bearish if it maintains its resistance level of 1.5730, but if the pair breaks that resistance it may reach 1.5950 again. Overall, the GBP/USD traded with a low of 1.5422 and with a high of 1.5645. Today, Manufacturing Production is expected to decline by -0.10% vs. 0.10% previously.

The Yen strengthened versus the US Dollar and most majors due to positive economic data.  Technically, the USD/JPY is trading within a narrow range with no clear long term trend. If the pair breaks below the 76.00 level, the trend will continue downwards. Tomorrow, Core Machinery Orders are expected to grow by 4.5% vs. -8.2% previously.

The Canadian Dollar strengthened against its U.S. counterpart as stocks and commodities such as crude oil advanced on speculation debt concern in Europe may ease, making higher-yielding currencies more attractive. The trend for the pair is bearish if the pair maintains its resistance level of 1.0330. Today, Housing Starts are expected to grow by 187k vs. 185k previously.

The US Dollar fell versus most of the majors after better than expected Payrolls data lowered risk aversion and caused investors to prefer higher yielding assets. Non-Farms Payrolls came out at 103K an increase of 57K from last month and the 55K forecast. Wall Street couldn’t sustain early gains and finished in the red as NASDAQ declined by 1.1% and the Dow by 0.18%. Crude oil gained by 0.11% and closed at $83.07 a barrel. Gold (XAU) weakened by -0.76%, closing at $1,636.10 an ounce. Today is a bank holiday in the U.S due to Columbus Day. Low Liquidity and Irregular volatility are expected.

The Euro strengthened versus the Dollar after French and German leaders pledged to deliver a plan in three weeks to recapitalize banks and reiterated their intention to keep Greece in the euro. Despite that Fitch Ratings cut Italy’s rating to A+ from AA- and Spain’s rating from AA+ to AA-. Portugal is expected to be the next country to be downgraded. Trading below the resistance level of 1.35 will keep the momentum of the pair negative, but if the pair breaks above this, it may reach the 1.4060 again. Overall, the EUR/USD traded with a low of 1.3360 and with a high of 1.3524.

The British Pound gained versus the Dollar after better than expected Payrolls data in the U.S spurred demand for higher yielding assets. The Pound retraced most of its gains later in the trading session. The trend for the pair remains bearish if it maintains its resistance level of 1.5730, but if the pair breaks this it may reach 1.5950 again. Overall, the GBP/USD traded with a low of 1.5422 and a high of 1.5645. No economic data is expected today.

The Yen finished lower versus the Dollar and most majors after better than expected Non Farm Payrolls in the U.S spurred investors toward higher yielding assets. The Bank of Japan made no changes to its monetary policy leaving rates unchanged, stating that there is an increasing risk of a global slowdown. Today is a Bank Holiday in Japan which can lead to abnormally low or high volatility.

The Canadian Dollar finished unchanged versus the U.S Dollar on Friday. Employment data came out better than expected. This caused the Canadian Dollar to strengthen to a one-week high versus the U.S Dollar but US Non Farm Payrolls helped the U.S Dollar to bounce back. The trend for the pair will continue to be bullish if it maintains its support level of 1.0280. Today Canada observes Thanksgiving Day so the market is expected to be low on liquidity which could lead to abnormal volatility.

The US Dollar fell against most major currencies as the appetite for riskier assets increased and investors preferred to purchase higher yielding assets over the greenback. ADP Non-Farm Employment Change data came out 91k better than expected 76k, triggering a Stock Market rally with the Dow appreciating by 1.21% and the NASDAQ by 2.32%. Crude Oil soared by 5.3% after Stocks showed a drop of -4.7M and closed at $79.60 a barrel. Gold (XAU) also joined the positive trend and increased by 1.6% to close at $1641 an ounce. Today, Unemployment Claims are expected at 411k vs. 391k previously.

The Euro rose against most currencies and stayed firm against the dollar on optimism that a possible solution to the debt crisis after Germany said the bailout fund could be used to recover struggling banks. Retail Sales came out -0.3% worse than expected -0.2%. Trading below the resistance level of 1.3480 will keep the momentum of the pair negative, but if the pair breaks above this resistance level, it may reach 1.4060 level. Overall, the EUR/USD traded with a low of 1.3260 and a high of 1.3383. Today, the Interest Rate Decision is expected to remain unchanged at 1.5%.

The British Pound fell against the dollar on speculation that BOE will encourage its program of bond purchases, or quantitative easing in their policy meeting expected today. The GBP/USD made several attempts to breach the 1.5490 level but remained capped. Services PMI came out 52.9 better than expected 50.6. The trend for the pair will remain bearish if it maintains its resistance level of 1.5730, but if the pair breaks this resistance it may reach 1.5950 again. Overall, the GBP/USD traded with a low of 1.5393 and with a high of 1.5492. Today, the Interest Rate Decision is expected to remain unchanged at 0.5%.

The US Dollar traded unchanged against the Japanese Yen after the pair failed to break its resistance level of 77.00. Technically, trading below the 76.80 level will keep the trend bearish and the pair may test its support of 76.30. Today, no economic data is expected.

The Canadian dollar gained for a second day against the greenback as an improvement in market sentiment weakened the US Dollar across the board, and black gold prices soared, supporting the loonie. Holding below the resistance area of 1.0500 keeps the momentum bearish for the pair. Overall, the USD/CAD traded with a low of 1.0394 and a high of 1.0569. Today, Building Permits are expected at 0.6% vs. 6.3% previously.

The US Dollar strengthened against most of the major currencies as concern about Europe’s debt crisis overshadowed higher-than-estimated U.S. economic data. Treasury bonds rallied as the Federal Reserve bought longer-term debt. At the same time, ISM Manufacturing PMI i came out 51.60 vs. 50.50 forecast. This shows the economy is growing slowly, but not going into recession. Wall Street closed negative as the NASDAQ fell by 3.29% and the Dow Jones declined by 2.36% due to high concern over the Greek debt crisis. Crude oil fell by 2.68% – the lowest level in more than a year – and closed at $76.20 a barrel. Gold (XAU) rose by 1.90%, closing at $1,661 an ounce. Today, Factory Orders are expected to grow by 0.20% vs. 2.40% previously.

The Euro fell to a 10-month low against the U.S Dollar and to more than a decade low against the yen as risk aversion intensifies and stocks extend losses on Wall Street. In addition, the incoming European Central Bank President Mario Draghi said a lack of confidence may be among the reasons for lenders’ “funding problems”. Trading below the resistance level of 1.3480 will keep the momentum of the pair negative, but if the pair breaks above this, it may reach 1.4060 again. Overall, the EUR/USD traded with a low of 1.3162 and a high of 1.3380.

The British Pound fell for a second day against the Greenback as traders judged a surprise expansion of U.K. manufacturing as insufficient to keep the Bank of England from providing further stimulus for the economy. The trend for the pair remains bearish if the pair maintains its resistance level of 1.5730, but if it should break that resistance it may reach 1.5950 again. Overall, the GBP/USD traded with a low of 1.5420 and a high of 1.5582.

The US Dollar fell against the Yen after the Bank of Japan said today its quarterly Tankan index of sentiment increased to 2 in September from – 9 in June. Technically, trading below 76.80 will keep the trend bearish and the pair may test support at 76.30. Today, no economic data is expected.

The Canadian Dollar fell the most since October 2008 as Europe’s finance leaders prepared to weigh the risk of a Greek debt default. As a result Canadian stocks fell, led by energy companies and banks. The trend for the pair will continue to be bullish if the pair maintains its support level of 1.0350. Today, no economic data is expected.