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U.S Major Indices dropped after Federal Reserve Chairman Ben Bernanke hinted that a reduction in the QE stimulus could happen this year. The S&P 500 fell by 1.39%, Dow Jones by 1.35% and NASDSAQ by 1.12%. Amazon shares also declined by 1.28% as Bernanke’s comments lowered investor demand for stocks. Amazon continues reinventing itself, with its shares having created a double top at $282 and this is expected to decline towards the 270.

Gold dropped by 2.3% as the Dollar gained following Bernanke’s comments. Crude Oil declined by 0.9% closing at $97.70 a barrel as the Dollar gained but demand for high yielding assets decreased.

The Euro fell in the face of the stronger Dollar. EUR/USD is bearish below the 1.33 resistance level. This is also the 23.60% Fibonacci retracement level. The ascending channel the EUR/USD was trading in has been broken and the formation of a downtrend is evident. Today, German Flash Manufacturing PMI is expected with 49.9 versus 49.4 prior, and the Eurogroup Meetings will be held throughout the day in Brussels.

The Pound fell versus the Dollar and other majors after the MPC Asset Purchase Facility Votes showed 3 of the 9 members voted to increase the Asset Purchases, while 6 Members voted to keep the Asset Purchases plan unchanged. As expected, the Interest Rate was left unchanged. The GBP/USD has broken below the 1.56 support level and started trading downwards. Today, Retail Sales are expected at 0.8% versus -1.3% prior.

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Hello, it’s Wednesday, June 19, 2013, and I’m Martin Smith, financial analyst at UFXMarkets Trading Support Center with your daily trading outlook.

Wall Street finished the trading day in the green optimistic that the Federal Reserve will maintain its stimulus plan, pushing investors towards higher yielding assets. The S&P 500 gained by 0.78%, the NASDAQ by 0.61% and the Dow Jones added 0.91% to its value.

The US Dollar traded mixed against most of the major currencies after Core CPI came out as expected at 0.20% and Building Permits at 0.97M. Today, the Interest Rate Decision is expected to remain unchanged at 0.50% but the focus will remain on the FOMC Economic Projections that expected to be released. The FOMC Press Conference is expected a well.

Gold fell by 1.11% closing at $1368 an ounce on speculation that the Federal Reserve may ease its massive stimulus program. Crude Oil rose by 0.64% closing at $98.72

The Euro gained versus the US Dollar hitting another fresh high at 1.3410 after the ECB President Draghi said that the bank was ready to use interest rates and more measures to support the Euro zone economy growth. In addition, investors remained out from the dollar ahead of the Federal Reserve’s announcement today. On the one hour chart, the EUR/USD trend is strongly bullish. However, strong resistance is located at 1.3440 and the pair is expected to rebound towards 1.3340.

The Pound dropped versus the Dollar after CPI came out better than expected at 2.70% vs. 2.60% and the PPI Input worse than expected at -0.30% vs. 0.10%. According to the one hour chart the Cable is holding above the 38.20% Fibonacci support Continue reading →

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Hello, it’s Tuesday, 18 June 2013, and I’m Martin Smith, financial analyst at UFXMarkets Trading Support Center with your daily trading outlook.

Wall Street finished the trading day in the green as investors estimate that the Federal Reserve is about to ease its massive stimulus program, which indicates that the economy may stand on its own. Indices also were supported by better than expected economic data from the U.S. The S&P 500 rose by 0.76%, closing at 1,641; the Dow Jones climbed by 109.67 points, closing at 15,200; and the NASDAQ rose by 0.83%, closing at 2,974.

The US Dollar traded mixed against most of the major currencies yesterday after Empire State Manufacturing Index came out much better than expected at 7.8 vs. 0.4. Investors are waiting for the Federal Reserve’s meeting this week before turning to the safe haven of the greenback. Today, the Building Permits is expected at 0.98 vs. -1.02 previously, and Core CPI at 0.2% vs. 0.1% previously. High volatility is expected in the greenback.

Gold fell by 0.50% closing at $1,384 an ounce while Crude Oil gained by 0.20%, closing at $98.12 a barrel as concerns that a U.S. decision to send armaments to the Syrian rebel forces may escalate into a regional conflict.

The Euro gained slightly versus the US Dollar on Monday as investors preferred not to take action before the Federal Reserve’s policy statement on Wednesday. Technically, according to the daily chart, the EUR/USD trend is strongly bullish as long as the pair maintains its support level of 1.3240 which is expected to complete the “W” pattern and keep rising towards 1.3440.

The Pound declined slightly versus the US Continue reading →

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Hello, it’s Monday, June 17, 2013, and I’m Martin Smith, financial analyst at UFXMarkets Trading Support Center with your daily trading outlook.

U.S Major Indices finished the trading week in the red, with the US Dollar falling against most of the major currencies over mixed U.S. economic data. However, PPI came better than expected at 0.50% vs. 0.10%. Investors are waiting for the Federal Reserve’s monetary policy meeting this week to see if there is any further new of the future of the bond-buying program. In commodities, Gold rose by $5 to close at $1390 an ounce, and Crude Oil gained by $1.14 closing at $97.77 a barrel.

The Euro climbed against the US dollar on speculation that the Fed will curb bond purchases. CPI came out unchanged at 1.40% and the Core CPI as expected at 1.20% . Technically, the EUR/USD is expected to keep its positive momentum towards 1.3440. Today the European trade balance is expected at 21.2B vs. -18.7B previously.

The Pound gained its highest level in more than four months against the U.S dollar with increasing optimism over the strength of the country’s economic recovery. Technically, according to the 1 hour chart, the GBP/USD is trading in an ascending channel that could lead the pair towards the 1.5800 resistance level. In addition the pair is trading above the Moving Average 20 indicator which supports the positive momentum. No major economic data is expected today.

The Dollar declined against the Yen on Friday after the Bank of Japan released the minutes of the last monetary policy meeting, in which the bank alluded to limiting stimulus programs to avoid Instability. Technically, according to the one hour chart, the USD/JPY Continue reading →