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February 28th, 2012 Currencies EUR/USD The EUR/USD rose 0.3 percent to $1.3431. ECB is preparing to issue a second round of unlimited three-year loans to help shore up the region’s banks. U.S. economic data may show orders for durable goods fell in January, while consumer confidence improved this month

USD/CAD After climbing to 1.0049 the USD/CAD dropped down to 0.9991, as the dollar rose on most major rivals as the euro fell prey to apparent profit-taking in quiet trading Monday, after the Group of 20 nations refused to boost funding for the International Monetary Fund until the euro zone boosts the size of its own firewall.

Pending home sales climbed 2% in January to the highest level since April 2010, when buyers were taking advantage of a now-expired tax credit. The pending-home-sales index rose to 97.0 from a downwardly revised 95.1 reading in December.

Commodities Commodities fell a second day on concern Prices coming to near a 9-month high that may bend demands. Oil dropped for a second day in New York on speculation rising U.S. stockpiles signal easing fuel demand as crude trades near the highest price in nine months.

Oil for April delivery fell as much 72 cents to $107.84 a barrel in electronic trading on NYMEX and was at $108.44 a barrel at 3:06 p.m. Singapore time. The contract yesterday slid 1.1 percent to $108.56, snapping the longest winning streak since January 2010. Prices rose 6.3 percent last week to the highest since May 3 and are up 12 percent in the past year.

Gold rose about 3% previous week, outcome of Greece’s bailout deal and expectations of biggest momentary easing.

Spot gold edged up 0.3% to USD 1,771.96 an ounce by 0643 GMT, off a three-month high of $1,787.11 hit last week.

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Guest bhinder

February 29th, 2012

Currencies EUR/USD The EUR/USD rose 0.1 percent to $1.3487. Rising to an almost 3-month high, On speculations that European Central bank (ECB) allots of 3-year loans to banks today that will spur demand for the region’s assets.

USD/CAD fell from the opening at 0.9990 to trade at 0.9950. With the euro surging to new recent highs against the USD, all of the USD trading partners are benefitting on the weakness. Also reports show U.S. home prices fell 1.1% in December to bring the year-over-year fall to 4percent, according to the Case-Shiller home price index released Tuesday. Today’s report show durable goods fell 4 percent in January, the U.S. Commerce Department said.

Commodities Oil advanced from the lowest price in almost a week in New York on speculation that fuel demand will increase amid signs of economic recovery and concern that tension with Iran threatens global crude supplies.

Oil for April delivery increased as much as 60 cents to $107.15 a barrel in electronic trading on the New York Mercantile Exchange and was at $106.99 at 1:37 p.m. Singapore time. The contract yesterday slipped $2.01, or 1.9 percent, to $106.55, the lowest close since Feb. 22 and the biggest drop since Jan. 20. Prices are 8.6 percent higher this month and up 10 percent in the past year.

Gold surpassed platinum as the most expensive metal used in jewelry in August for the first time since December 2008. Gold demand from jewelry makers dropped 3 percent last year, according to the World Gold Council.Gold has climbed for 11 successive years and peaked at $1,921.15 an ounce on Sept. 6 before retreating to $1,774.71 an ounce in London.

Spot Gold rose up 0.3 percent to $1,771.96 per ounce by 06:45 GMT, making a 3-month high of $1,787.11 that went to last week. Spot Gold made its highest level since middle of November.

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http://blog.acfx.com/wp-content/uploads/tech/feb2012/29-2/highres/gold.jpg

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Guest bhinder

March, 1st 2012

Currencies EUR/USD has traded in the range of 1.3454-1.3485 this morning and it holds itself above the 100-day moving average at 1.3316; it has kept above this key level since last Friday ahead of today’s much anticipated 3-year Long Term Refinancing Operation (LTRO). To the upside next immediate levels are 1.3535/1.3619 (the 61.80% retracement of the October 27th – January 13th move lower) while to the downside support should be found at 1.3408/1.3357.

US Dollar fell to 3 month low against most of its major traded currencies on Thursday after the US Federal Reserve chairman Mr. Bernanke reduced the bond buying.

The dollar index against a basket of currencies stood at 78.72, above a three-month low of 78.095 hit on Wednesday, while the euro traded at $1.3341, up slightly in Asia but hardly recovered from a loss of more than 1 percent from a high of $1.3486 on EBS on Wednesday.

USD/CAD is currently trading 0.9889 after falling to 0.9845. Federal Reserve Chairman Ben Bernanke fueled strength in the dollar, and as upbeat U.S. economic data dulled safe-haven demand for the metal. In testimony prepared for the House Financial Services Committee, Bernanke said that recent improvement in employment has put the Federal Reserve on alert and that it’s watching incoming data closely. Bernanke stopped short of saying the improvement in the jobless rate meant a better economy ahead.

Commodities Oil for April delivery was at $107 a barrel, down 7 cents in electronic trading on the New York Mercantile Exchange. Crude in New York fell as much as 1.6 percent yesterday after a report from the U.S. Energy Department showed stockpiles increased almost 4 times more than forecast.

Gold futures fell as much as $100 to below $1,700 an ounce on signs that that the Federal Reserve will refrain from offering more monetary stimulus to bolster the U.S. economy. Yesterday, gold reached $1,792.70, a three-month high, even as coin sales by the U.S. lowest in February.On Wednesday, SPDR Gold dropped 5.3percent, its biggest one-day loss since late September. Volume was triple the average.

Gold futures for April delivery fell $90.30, or 5 percent, to $1,698.10 at 5:14 p.m., compared with yesterday’s settlement. Earlier, the price tumbled as much as $100, or 5.6%, to $1,688.40, the lowest for a most-active contract since January 25th.

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http://blog.acfx.com/wp-content/uploads/tech/march2012/1-3/highres/gold.jpg

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Guest bhinder

March 5th 2012

Currencies EUR/JPY The euro slid for a fourth day against the yen before data economists say will show the region’s retail sales dropped for a third month, adding to signs the currency bloc’s debt woes are hurting the economy.

The euro slid 0.6 percent to 107.36 yen as of 6:30 a.m. in London from last week’s close.

EUR/ USD opened marginally lower at 1.3191 at the weekly open, but managed to go up to 1.3213 after bouncing off support ahead of 1.3180 during the Asian session, this morning 7:30 gmt time the pair continues to struggle around 1.3180 support level, further volatility expected after the European markets opening.

Commodities Oil rose from a three-day low in New York after US President Barack Obama said the U.S. may use military force to stop Iran from developing a nuclear weapon and Enbridge Inc. (ENB) shut a pipeline in Illinois.

Oil for April delivery gained as much as 59 cents to $107.29 a barrel in electronic trading on the New York Mercantile Exchange and was at $106.94 at 2:23 p.m. Singapore time.

Gold lost nearly 4 percent last week, after U.S. Federal Reserve Chairman Ben Bernanke disappointed the market by omitting any reference to further monetary easing in a congressional testimony.

Gold was little changed at $1,712.79 an ounce by 0331 GMT. U.S. gold edged up 0.3 percent to $1,714.20.Technical analysis shows gold could rebound to $1,728 an ounce during the day.

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http://blog.acfx.com/wp-content/uploads/tech/march2012/5-3/highres/gold.jpg

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Guest bhinder

March 12th, 2012

Currencies EUR/USD The dollar hit its highest level in nearly a month versus the euro on Monday after last week's upbeat jobs data suggested the U.S. economy may not be in dire need of further monetary stimulus from the Federal Reserve.

The single currency slipped 0.3 percent to $1.3087, having dipped to as low as $1.3079 at one point on trading platform EBS, the euro's lowest level since Feb. 16.

USD/JPY A focal point for dollar/yen this week will be policy decisions by the Bank of Japan and the U.S. Federal Reserve, both of which are due on Tuesday.

The dollar dipped 0.2 percent against the yen to 82.32 yen, coming under pressure due to profit-taking and dollar-selling by Japanese exporters, traders said.

Commodities Oil fell from the highest price in more than a week after exports grew more slowly than forecast in China, the world’s second-largest crude consumer, signaling an economic slowdown.

Crude for April delivery declined as much as 79 cents to $106.55 a barrel in electronic trading on the New York Mercantile Exchange. It was at $106.59 at 1:52 p.m. Singapore time.

Gold rose further on Monday as gains on the Nikkei helped it offset pressure from a firm U.S. dollar, but some investors were likely to stay on the sidelines ahead of a U.S. Federal Reserve meeting this week, which could potentially weigh on the precious metal.

Spot gold was steady at $1,708.56 an ounce by 0248 GMT after rising as high as $1,713.80. On Friday, gold rose nearly 1 percent on higher crude oil and U.S. equities after U.S. employment grew solidly for a third straight month in February.

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Guest bhinder

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