NEW YORK
19:46
LONDON
23:46
PARIS
00:46
FRANKFURT
00:46
HONG KONG
06:46
TOKYO
08:46
SYDNEY
10:46
contacts about Trade Now
home forex brokers news articles rates & charts
Article » UFXBank Daily Review - January 26, 2010
UFXBank Daily Review - January 26, 2010
Jan 27 2010, 03:55


Daily Review 26/01/2010 



USD Dollar (USD) – The Dollar is consolidating moderate losses across the board on prospects the Federal Reserve will keep its target lending rate near zero to spur growth, pulling back after rising sharply last week. Existing Home Sales came out 5.45M worse than 5.95M expected. Wall Street finished with small gains after falling considerably last week. Dow Jones rose 0.23% and NASDAQ gained 0.25%. Commodities rose higher. Crude oil is back above $75 a barrel. Gold (XAU) trades near $1,100 an ounce. Today, the CB Consumer Confidence is expected at 53.5 vs. 52.9 previously.

EURO (EUR) – The Euro gained modestly versus the Dollar and is trading near 1.4150. The Gfk German Consumer Climate came out 3.2, unchanged as expected. If the pair remains below 1.42 the continuance of the downtrend is expected. Overall, EUR/USD traded with a low of 1.4110 and with a high of 1.4193. Today, German IFO Climate Index is expected at 95 vs. 94.7 previously.

EUR/USD – Last: 1.4160



Resistance    1.422    1.4265    1.43

Support    1.4125    1.4065    1.403



EURUSD







British Pound (GBP) –
The Pound recovered from Friday’s losses and posted important gains across the board and was the best performer among majors. The Sterling rose in expectance of today's 4th quarter GDP figures. In the intraday charts GBP/USD seems to have created a double top and is expected to go down but the 200 day moving average might act as a strong support and send it upwards. Overall, GBP/USD traded with a low of 1.6087 and a high of 1.6260. Today, 4th quarter GDP is expected at 0.4% vs. -0.2% previously. The BBA Mortgage Approvals is expected at 45K vs. 44.7K previously.

GBP/USD - Last: 1.6250



Resistance    1.6285    1.6315    1.635

Support    1.6165    1.6095    1.6075



 



GBPUSD



Japanese Yen (JPY) – The Dollar strengthened slightly versus Yen but was unable to cross above 90.50 resistance level. Bank of Japan left the Overnight Call Rate unchanged at 0.1% in order to stimulate growth by offering cheaper loans for companies. If the pair breaks below 89.80, an acceleration of the downtrend can be seen. Overall, USD/JPY traded with a low of 89.65 and a high of 90.35. Today, Trade Balance is expected with 0.61T versus 0.49T prior.

USD/JPY-Last: 90.2



Resistance    90.5    90.8    91.2

Support    89.8    89.45    89.05



 



USDJPY



Canadian dollar (CAD) – Canada’s dollar traded at almost the lowest level in more than a month versus its U.S. counterpart and underperformed its commodity linked peers as global stocks and oil fluctuated. The USD/CAD is in an uptrend and a break above the 1.06 level is expected. Overall, USD/CAD traded with a low of 1.0531 and with a high of 1.0611.No economic data expected today.

USD/CAD - Last: 1.0550   



Resistance    1.062    1.0675    1.073

Support    1.0535    1.049    1.0465



 



CADUSD





 


| More


Broker
of the Month

UFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease. By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.

    

Comments & Responses
Word Above:
Name:
Comment:
 

Related Article
Jan 27 2010, 03:55 - 0 Comments
Jan 27 2010, 03:54 - 0 Comments
Jan 27 2010, 03:54 - 0 Comments
Jan 27 2010, 03:54 - 0 Comments
Jan 27 2010, 03:54 - 0 Comments

    
Currency converter
Amount:  
  


Interview
with Matthew Sheppard
Senior Forex
Advisor at XForex


1. What is your name and position?
Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?
In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?
We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?
Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?
Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..
Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?
My advice to the beginning trader entering the Forex world is as follows:
• Learn the market and understand what you’re getting into.
• Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
• Invest smartly and calculate your risks
• Always know when to get out of a trade

read more forex interviews



Home  |   RSS Feed  |   Terms of Use  |   Privacy Policy  |   Advertise