Daily Technical Analysis by ACFX

[johnathan]

EUR/USD The Euro gapped up earlier today in Asian session opened at 1.3308, 70 pips higher from Friday’s close.

Gold gained more than 1 percent to above $1,700 an ounce on Monday as the euro rose on hopes Europe will take a bolder step to resolve a crippling debt crisis.

 

[johnathan]

29/11/11 Market outlook

EUR/USD The dollar fell against 14 of its 16 major counterparts as advancing stocks damped demand for safer assets.
The U.S. currency dropped 0.2 percent to $1.3349 per euro as of 1:50 p.m. Tokyo time from the closing level in New York yesterday.

USD/JPY The yen fell against all its major peers as Asian stocks rallied a second day and on prospects Japanese policy makers will do more to stem currency gains..
The yen slid 0.3 percent to 78.19 per dollar as of 10:40 a.m. in Tokyo and reached 78.29, the weakest level since Nov. 2.

Oil pared its earlier decline in New York..
Crude for January delivery was at $98.13 a barrel, down 8 cents, in electronic trading on the New York Mercantile Exchange at 5:20 p.m. Sydney time, after earlier sliding as much as 1 percent.

 

[johnathan]

Technical Analysis & Market outlook by ACFX

eur/usd

GBP/USD

USD/JPY
EUR/USD The euro was little changed at $1.3317 at 5 p.m. New York time, after earlier gaining to as high as $1.3442, the strongest level since Nov. 23.
AUD/USD The so-called Aussie traded at $1.0033 as of 11:32 a.m. in Sydney, from $1.0022 before the data.
USD/CAD Canada’s currency, also known as the loonie for the image of the aquatic bird on the C$1 coin, gained 0.2 percent to C$1.0321 per U.S. dollar by 5 p.m. in Toronto.

 

[johnathan]

Technical Analysis & Market outlook by ACFX 1/12/11

EUR/USD The euro gained the most in a month against the dollar after the Federal Reserve and five other central banks acted to make more funds available to lenders as Europe’s debt crisis threatens global economic growth.
The euro strengthened 1 percent to $1.3446 at 5 p.m. in New York and reached $1.3533, the strongest level since Nov. 22.
USD/JPY The yen weakened against 14 of its 16 most-traded counterparts as Asian stocks extended a global equity rally, curbing demand for haven assets.
Yen was at 77.68 per dollar from 77.62.
USD/CAD The Canadian currency rose the most since May 2010 as central banks including the Bank of Canada reduced the cost of emergency dollar funding toto The loonie appreciated 1.4 percent to C$1.0174 per U.S. dollar at 5 p.m. Toronto

http://a8.sphotos.ak.fbcdn.net/hpho...31562_202349203132732_1012291_123866918_n.jpg

 

[johnathan]

Technical Analysis & Market outlook by ACFX 2/12/11

EUR/USD

GBP/USD

USD/JPY
EUR/USD The euro pared gains versus the dollar and yen as concern increased that European leaders will struggle to resolve the region’s debt crisis even after central banks moved to ease dollar borrowing for banks.
The euro appreciated 0.1 percent to $1.3461 at 5 p.m. in New York after surging as much as 1.6 percent yesterday, the most on an intraday basis since Oct. 27.
NZD/USD New Zealand dollar set for a weekly gain against most major peers before U.S. data forecast to show employers added workers at a faster pace, boosting demand for higher-yielding assets..
New Zealand’s dollar bought 78 U.S. cents from 77.94, rising 5.3 percent since Nov. 25.
AUD/USD Australia’s dollar fell from almost a two-week high versus its U.S. counterpart after government reports showed consumer spending slowed and building approvals dropped.
Australia’s dollar fell 0.7 percent to $1.0213 at 12:21 p.m. in New York

 

[johnathan]

Market outlook by ACFX 5/12/11

Important Financial Indicators of the day
Forecast Previous
GBP 09:30 (GMT) Services PMI 50.6% 51.3%
USD 15:00 (GMT) ISM Non-Manufacturing PMI 53.6 52.9
Currencies
EUR/USD The euro gained against most major peers as Italy advanced a plan to cut its deficit before a European summit on the region’s sovereign-debt crisis.
The euro rose 0.1 percent to $1.3404 at 2:05 p.m. in Tokyo from $1.3391 on Dec. 2, when it completed a 1.2 percent weekly advance.
AUD/USD The Australian dollar erased gains against the U.S. currency
The so-called Aussie traded at $1.0211 as of 3:40 p.m. in Sydney from $1.0215 last week.
USD/CAD Canada’s dollar staged its biggest five-day rally since October after central banks including the Bank of Canada took steps this week to make it cheaper for lenders to borrow dollars during emergencies.
The loonie, as the currency is also known for the image of the aquatic bird on the C$1 coin, gained 2.6 percent this week to C$1.0195 per U.S. dollar in Toronto.
Commodities
Gold prices traded steady on Monday, after posting their sharpest weekly rise in more than a month, as the euro zone kicks off a week packed with meetings and decisions crucial to the solution to its debt crisis as well as the euro.
Spot gold was little changed at $1,747.29 an ounce by 0326 GMT, after rising nearly 4 per cent in the previous week.
Oil rose for a second day in New York on concern that tension in the Middle East threatens supplies and speculation that Europe will take steps to tame a debt crisis that may curb economic growth.
Crude for January delivery climbed as much as 77 cents, or 0.8 percent, to $101.73 a barrel in electronic trading on the New York.

 

[johnathan]

Market outlook by ACFX 6/12/11

Important Financial Indicators of the day
Forecast Previous
CAD 13:30 (GMT) Building Permits 2.3% -4.9%
CAD 14:00 (GMT) Overnight Rate 1.00% 1.00%
CAD 15:00 (GMT) Ivey PMI 55.2 54.4
Currencies
• EUR/USD The euro fell for a third day after S&P’s announcement, which put European nations including the six AAA-rated countries on watch for potential downgrades pending the outcome of a Dec. 8-9 leaders summit.
o The 17-nation currency declined 0.3 percent to $1.3367 at 12:47 p.m. in Tokyo.
• GBP/USD The pound strengthened against the dollar, snapping a two-day decline, as optimism that euro-area leaders are acting to ease the region’s debt crisis spurred demand for higher-yielding assets.
o The pound was 0.6 percent stronger at $1.5687 at 4:32 p.m. London time.
• AUD/USD The Australian dollar weakened after the Reserve Bank of Australia reduced its key cash rate target by 25 basis points to 4.25 percent.
o The so-called Aussie slid 0.6 percent to $1.0213 as of 2:32 p.m. in Sydney.
Commodities
• US gold fell on Tuesday, tracking spot prices lower on fears of a possible mass credit rating downgrade for euro zone nations by Standard & Poor's.
o Gold shed 1.1 percent to $1,714.80.
• Oil dropped from the highest in almost three weeks in New York as investors speculated that fuel demand will falter amid signs Europe is struggling to tame its sovereign debt crisis.
o Crude for January delivery fell as much as 61 cents to $100.38 a barrel in electronic trading on the New York Mercantile Exchange.

 

[johnathan]

Market outlook by ACFX 7/12/11

December 7th, 2011 Important Financial Indicators of the day
Forecast Previous
GBP 09:30 (GMT) Manufacturing production m/m
-0.1% 0.2%
NZD 20:00 (GMT) Official Cash Rate
2.50% 2.50%

Currencies
• EUR/USD The euro rose against the majority of its 16 main counterparts amid speculation Europe will expand funds available to the region’s most-indebted nations as leaders prepare to meet in Brussels tomorrow.
oThe euro rose 0.3 percent to $1.3445 at 7 a.m. London time.
•USD/CHF The Swiss franc weakened after a report showed consumer prices fell in November, increasing speculation the country’s central bank will lower the ceiling on the currency’s exchange rate.
oIt weakened 0.8 percent to 92.77 centimes per dollar.
•USD/CAD Canada’s dollar rose for a second day after Bank of Canada policy makers said growth in the domestic and U.S. economy is stronger than forecast, easing speculation the central bank would signal further monetary easing.
o Canada’s currency appreciated 0.6 percent to C$1.0100 per U.S. dollar at 5 p.m. in Toronto.
Commodities

•Gold may gain after exchange-traded product holdings climbed to a record, and speculation that European leaders are making progress in containing the debt crisis boosted the euro and equities.
oImmediate-delivery gold was little changed at $1,729.68 an ounce at 11:20 a.m. in Singapore after rising 0.3 percent yesterday.
•Oil rose for a fourth day in New York on concern global supplies of crude will shrink after the European Union signaled it may ban imports from Iran and U.S. stockpiles declined.
oCrude for January delivery rose as much as 37 cents to $101.65 a barrel and was at $101.60 in electronic trading on the New York Mercantile Exchange at 3:45 p.m.

 

[falah]

johnathan are you trading in forex ???

and if you dont mind I want to ask some Q

 

[johnathan]

Market outlook by ACFX 8/12/11

December 8th, 2011

Important Financial Indicators of the day
Forecast Previous
GBP 12:00 (GMT) Official Bank Rate 0.50% 0.50%
EUR 12:45 (GMT) Minimum Bid Rate 1.00% 1.25%
CAD 13:15 (GMT) Housing Starts 0.3% 0.2%
EUR 13:30 (GMT) ECB Press Conference
USD 13:30 ( GMT) Unemployment Claims 397k 402k
Currencies
EUR/USD The euro rose against the dollar, after erasing earlier losses, as optimism increased that European leaders will be able to agree on measures to help solve the region’s debt crisis.
The euro rose 0.1 percent to $1.3412 at 5 p.m. in New York after falling as much as 0.4 percent.
USD/JPY The yen and dollar rose against most major peers as Asian stocks declined amid signs of a slowdown in the region’s economies, boosting demand for refuge currencies.
The pair was little changed yesterday at 77.65 per dollar.
USD/CHF The Swiss franc weakened to within one centime of an eight-month low against the dollar after a lawmaker said a government panel is considering using negative interest rates to combat the currency’s appreciation.
The franc was little changed at 92.49 per dollar at 4:01 p.m. London time after earlier depreciating to 92.88 centimes.
Commodities
Gold declined after holdings in exchange-traded products fell from a record and the European Central Bank was seen cutting interest rates today ahead of a regional leaders’ summit intended to tackle the debt crisis.
Immediate-delivery gold fell for the first day in three, losing as much as 0.3 percent to $1,736.43 an ounce and trading at $1,738.02 at 11:30 a.m. in Singapore..
Oil traded near a one-week low after a gain in inventories indicated demand is recovering more slowly than projected in the U.S., the world’s biggest crude consumer.
Crude for January delivery was at $100.61 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 1:25 p.m. in Singapore. It fell 0.8 percent yesterday to $100.49, the lowest settlement since Dec. 1.

 

[johnathan]

Market outlook by ACFX 9/12/11

December 9th, 2011

Important Financial Indicators of the day
Forecast Previous
EUR ALL Day EU Economic Status
GBP 09:30 (GMT) PPI Input 0.3% -0.8%
USD 14:55 (GMT) Prelim UoM Consumer Sentiment 0.3% 0.2%

Currencies
• EUR/USD The euro traded 0.3 percent from a one-week low against the dollar after a summit of European Union leaders failed to forge a unanimous accord, damping prospects for a rapid resolution to the region’s debt crisis.
o Europe’s common currency fetched $1.3334 as of 2:18 p.m. in Tokyo from $1.3341 yesterday and has declined 0.4 percent since Dec. 2.
• AUD/USD Australian dollar rose to $1.0194 as of 1:31 p.m. Sydney time from $1.0167 yesterday in New York.

• NZD/USD New Zealand dollars fell to one-week lows on speculation a European summit will fail to push the region’s debt crisis toward a resolution, damping demand for higher-yielding assets.
o New Zealand’s currency retreated 0.6 percent to 76.81 U.S. cents, after sliding to as low as 76.60, also the weakest since Nov. 30.
Commodities

• Gold traders are more bullish as investors buy metal at the fastest pace in a year to protect their wealth from Europe’s escalating debt crisis.
o Bullion rose 20 percent to $1,712.70 an ounce this year on the Comex in New York, and reached a record $1,923.70 in September.

• Oil fell, heading for the biggest weekly decline since September, as investors speculated that fuel demand will falter as Europe’s leaders struggle to contain its sovereign debt crisis.
o Crude for January delivery dropped as much as 75 cents to $97.59 in electronic trading on the New York Mercantile Exchange and was at $98.01 at 1:35 p.m. Singapore time.

 

[johnathan]

Market outlook by ACFX 12/12/11

December 12th, 2011

Important Financial Indicators of the day
Forecast Previous
GBP Tentative BOE Gov King Speaks
USD 19:00 (GMT) Federal Budget Balance -138.0B -95.5B
Currencies
• EUR/USD The dollar gained against most of its major counterparts before a German report tomorrow that may show investor confidence in Europe’s largest economy slid to a three-year low, boosting demand for safer assets.
o The dollar advanced 0.3 percent to $1.3349 per euro at 6:48 a.m. in London.
• Asian currencies gained after European leaders took steps to contain their debt crisis and U.S. consumer confidence topped forecasts, easing concern that global growth is slowing.

• USD/CAD The Canadian dollar reached its strongest level in five weeks as signs of growth in the U.S., the nation’s biggest trade partner, and Europe’s latest plans to tackle its debt crisis fueled appetite for riskier assets.
o Canada’s currency, also known as the loonie for the image of the aquatic bird on the C$1 coin, appreciated 0.3 percent to C$1.0169 on friday.
Commodities
• Gold prices fell more than 1 percent on Monday on technical selling and concerns that the European Union summit had stopped short of producing a convincing plan to solve the euro zone debt crisis.
o Spot gold lost as much as 1.5 percent to a two-week low of $1,684.19 an ounce, and regained some lost ground to $1,694.40 by 0411 GMT.
• Oil slid in New York, extending last week’s decline, as concern Europe will be unable to tame its debt crisis countered Iran’s calls for production cuts before an OPEC meeting this week.
o Crude for January delivery fell as much as 37 cents to $99.04 a barrel in electronic trading on the New York Mercantile Exchange.

 

[johnathan]

Technical Analysis & Market outlook by ACFX 14/12/11

December 14th, 2011 Market outlook
Important Financial Indicators of the day
Forecast Previous
GBP 09:30 (GMT) Claimant Count Change 16.1k 5.3k
USD 15:30 (GMT) Crude Oil Inventories -2.2M 1.3M
Currencies
•EUR/USD The euro traded 0.2 percent from an 11-month low as European nations prepare to sell bonds amid concern the region’s debt crisis is far from resolution.
The euro traded little changed at $1.3033 as of 2:49 p.m. in Tokyo from $1.3037 yesterday in New York, when it touched $1.3009.
•USD/CAD Canada’s dollar dropped to its weakest level this month after the Federal Reserve supported the U.S. currency by refraining from taking new action to lower borrowing costs.
oThe loonie depreciated 0.7 percent to C$1.0343 per U.S. dollar at 5 p.m. Toronto time after reaching C$1.0349, its weakest since Nov. 30.
•NZD/USD New Zealand dollar traded within half a percent of two-week lows as concern Europe’s debt crisis may prompt sovereign downgrades sapped demand for riskier assets.
New Zealand’s currency earlier fell to 75.41 cents, the weakest since Nov. 29, before trading little changed from yesterday at 75.66 U.S. cents.
Commodities
•Gold rallied from the lowest level in almost eight weeks as the biggest two-day drop since September spurred more purchases and investor holdings climbed to a record, countering the effect of a stronger dollar.
Immediate-delivery gold climbed as much as 0.7 percent to $1,642.82 an ounce and was at $1,638.57 at 6:33 a.m. in London.
•Oil traded near a one-week high in New York on signs the Organization of Petroleum Exporting Countries may set an output ceiling similar to current levels at its meeting in Vienna today.
Crude for January delivery was at $100.01 a barrel, down 13 cents, in electronic trading on the New York Mercantile Exchange at 3:52 p.m. Sydney time.

 

[johnathan]

Technical Analysis & Market outlook by ACFX 15/12/11

December 15th, 2011

Important Financial Indicators of the day
Forecast Previous
CHF 8:30 (GMT) Libor Rate 0.25% 0.25%
GBP 09:30 (GMT) Retail Sales m/m -0.3% 0.6%
EUR 11:25 (GMT) ECB President Dragi Speaks
USD 13:30 (GMT) Unemployment Claims 389k 381k
Currencies
•EUR/USD The euro traded 0.4 percent from the weakest level in 11 months against the dollar amid concern Europe’s sovereign-debt crisis will drive up borrowing costs for Spain at a bond auction today.
oThe euro traded at $1.2993 as of 6:51 a.m. in London from $1.2983 in New York yesterday, when it dipped below $1.30 for the first time since January and touched $1.2946.
•USD/CAD Canada’s currency sank to the lowest in more than two weeks against its U.S. counterpart as concern European borrowing costs were reaching unsustainable levels sapped demand for riskier assets.
oThe loonie, as the currency is known, traded 0.5 percent lower at C$1.0397 by 5 p.m. Toronto time after reaching $1.0424, the weakest since Nov. 28 when it touched C$1.0474.
•NZD/USD New Zealand dollars fell against most of their 16 major peers on concern Europe’s sovereign-debt crisis will slow global economic growth, sapping demand for riskier assets.
oNew Zealand’s currency fell 0.5 percent to 74.66 U.S. cents after touching 74.62 cents, the weakest since Nov. 28.
Commodities
•Gold extended a rout into a fourth day as concern that Europe’s debt crisis is escalating boosted the dollar, raising the prospect that the precious metal may enter a bear market.
oSpot gold dropped 0.5 percent to $1,566.55 an ounce at 1:46 p.m. in Singapore.
Oil advanced from a five-week low in New York as investors speculated that yesterday’s drop, the biggest since September, was exaggerated.
Crude for January delivery increased as much as 83 cents to $95.78 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.21 at 4:50 p.m. Sydney time.

 

[johnathan]

December 16th, 2011

Important Financial Indicators of the day
Forecast Previous
EUR 8:30 (GMT) ECB President Dragi Speaks
USD 13:30 (GMT) Core CPI 0.1% 0.1%
Currencies
EUR/USD The euro eased higher against the U.S. dollar during mid U.S. trade Thursday on stronger economic numbers.
EUR/USD hit a low of 1.2957 and a high of 1.3050 during U.S. trade, the pair was likely to find support at 1.2993 and technical resistance exists at 1.3019 where is trading higher at the moment of writing this report.
USD/JPY the yen declined against most of their major peers as evidence the U.S. economy is gaining momentum eased demand for havens.
USD/CAD Canada’s currency advanced from almost its lowest level in two weeks as U.S. reports on employment and manufacturing indicated Canada’s biggest trading partner’s economy is recovering.
The loonie appreciated 0.4 percent to C$1.0351 after yesterday reaching C$1.0424, the weakest since Nov. 28.
Commodities
Gold rebounded, trimming the worst weekly loss since September, as positive economic data from the U.S. eased demand for the dollar as a haven. Silver, platinum and palladium advanced.
Immediate-delivery gold rose for the first day in five, gaining as much as 0.7 percent to $1,580.77 an ounce and was trading at $1,579.98 at 8:54 a.m. in Singapore.
Oil rose from a six-week low as investors speculated that the biggest weekly decline since September is exaggerated.
Crude for January delivery rose as much as 48 cents to $94.35 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.99 at 2:19 p.m. Singapore time.

 

[johnathan]

Technical Analysis & Market outlook by ACFX December 19th, 2011

Currencies
EUR/USD The dollar rose against most major peers after North Korean state television said national leader Kim Jong Il died, spurring concern instability may increase in the region and boosting demand for the U.S. currency as a haven.
The dollar strengthened 0.3 percent to $1.3011 per euro as of 6:45 a.m. in London from the close in New York on Dec. 16.
AUD/USD The Australian dollar fell against 15 of its 16 major counterparts before the Reserve Bank releases minutes tomorrow of its December meeting when it cut interest rates for the second-straight month.
The Australian dollar fell 0.7 percent to 99.11 U.S. cents as of 4:03 p.m. in Sydney from 99.83 in New York on Dec. 16
Gold declined, extending the worst weekly loss since September, as concern that Europe’s sovereign- debt crisis may be worsening and the death of North Korean leader Kim Jong Il boosted the dollar.
Spot gold fell as much as 1 percent to $1,583.57 an ounce, and traded at $1,589.13 by 2:11 p.m. in Singapore.
Oil dropped for a fourth day before Europe’s latest attempt to contain a sovereign debt crisis that threatens to slow economic growth and demand for fuel. Crude for January delivery fell as much as 87 cents to $92.67 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.76 at 12:51 p.m. Singapore time.

 

[johnathan]

Technical Analysis & Market outlook by ACFX 20/12/11

Currencies
EUR/USD The euro traded 0.5 percent from an 11-month low before Spain sells securities and the release of a German report forecast to show deteriorating business confidence in Europe’s largest economy. The euro traded at $1.3014 as of 6:31 a.m. in London from $1.2998 in New York yesterday, after falling as low as $1.2946 on Dec. 14.
USD/CAD Canada’s dollar swung between gains and losses versus its U.S. counterpart as crude oil and stocks reversed earlier advances, muddying the outlook for currencies tied to growth. Canada’s currency was little changed at C$1.0389 per U.S. dollar at 5 p.m. in Toronto.
AUD/USD The Australian dollar traded 0.4 percent from a three-week low before the Reserve Bank of Australia releases minutes today of its December meeting when it cut interest rates for the second-straight month.The Australian dollar was little changed at 99.01 U.S. cents at 10:16 a.m. in Sydney from 98.96 cents yesterday in New York, when it tumbled 0.9 percent
Commodities Gold climbed, trimming the first quarterly decline since 2008, as the recent drop to the lowest level in almost three months lured buyers, tempering the effect of a stronger dollar. Immediate-delivery bullion rose as much as 0.5 percent to $1,601.70 an ounce, and traded at $1,599.20 at 2:43 p.m. in Singapore.
Oil rose for a second day in New York on forecasts that U.S. crude stockpiles declined for a second week and speculation that further sanctions against Iran will curb supply from OPEC’s second-largest producer. Crude for January delivery climbed as much as 70 cents to $94.58 a barrel in electronic trading on the New York Mercantile Exchange.

 

[johnathan]

December 21th, 2011
Important Financial Indicators of the day
Forecast Previous
USD 13:30 (GMT) Core Retails Sales 0.2% 0.3%
USD 15:00 (GMT) Existing Home Sales 5.04M 4.97M
USD 15:00 (GMT) Crude Oil inventories-2.8M -1.9M
Currencies
EUR/USD The 17-nation currency advanced toward a one-week high against the dollar after Spain’s borrowing costs fell yesterday when the country sold more than its maximum target of bills.
The euro rose 0.2 percent against the dollar to $1.3114 at 12:39 p.m. in Tokyo from yesterday in New York, when it touched $1.3132, the strongest since Dec. 13.
USD/CAD The Canadian dollar increased the most in December against its U.S. counterpart as a rally in crude oil and stocks eased risk aversion.
The loonie appreciated 0.9 percent to C$1.0298 per U.S. dollar by 5 p.m. Toronto time. It rose as much as 1.2 percent, the most on an intraday basis since Nov. 30.
AUD/USD New Zealand dollar reached one-week high as Asian equities extended a global stocks rally, boosting demand for higher-yielding assets.
The Australian dollar touched $1.0158, the most since Dec. 13, before trading at $1.0157 at 5:21 p.m. in Sydney, 0.8 percent above yesterday’s close in New York.
Commodities
Gold prices rose Wednesday, as investors ditched the metal's traditional hedge, the dollar, and set out in search for riskier assets, including stocks, currencies and precious metals.
On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,624.45 a troy ounce in early Asian trading Wednesday, up 0 42%..
Oil climbed for a third day in New York as investors bet that fuel demand may increase amid signs of an economic recovery and declining stockpiles in the U.S., the world’s biggest crude consumer.
Crude for February delivery rose as much as $1.20 to $98.44 a barrel in electronic trading on the New York Mercantile Exchange.

 

[johnathan]

Technical Analysis & Market outlook by ACFX 22/12/12

Currencies
EUR/USD The dollar traded 0.8 percent from an 11-month high versus the euro before European Central Bank President Mario Draghi speaks today amid concern policy makers are struggling to contain the euro region’s debt crisis.
The U.S. currency traded at $1.3044 per euro as of 2:01 p.m. in Tokyo from $1.3047 in New York yesterday.
USD/CAD The Canadian dollar appreciated for a second day against its U.S. counterpart as crude oil advanced and the nation’s statistics agency reported retail sales growth that doubled economists’ predictions.
The loonie, as the currency is known for the image of the waterfowl on the dollar coin, appreciated 0.3 percent to C$1.0266 per U.S. dollar at 5 p.m. Toronto time.
AUD/USD The Australian dollar dropped, snapping a two-day advance, amid concern the European Central Bank’s measures to boost liquidity may not stem the region’s debt crisis. Australia’s currency fell 0.3 percent to $1.0070.
Commodities
Gold declined as stronger-than- forecast demand for European Central Bank loans raised concern that the region’s debt crisis remains uncontained, boosting the dollar and damping demand for alternative assets.
Spot gold fell as much 0.8 percent to $1,602.95 an ounce, and traded at $1,606.75 at 2:37 p.m. in Singapore.

 

[johnathan]

Technical Analysis & Market outlook by ACFX 23/12/11

Japanese markets are closed today for a holiday

Currencies
EUR/USD The dollar was set to fall against most of its 16 major peers this week as Asian shares extended a global rally, damping demand for lower-yielding assets. The dollar dipped 0.3 percent to $1.3090 per euro as of 6:43 a.m. in London from the close in New York yesterday.
USD/CAD Canada’s dollar appreciated to the highest in almost two weeks on speculation the economy of the U.S., the nation’s biggest trading partner, is recovering. Canada’s currency, nicknamed the loonie, gained 0.6 percent to C$1.0203 per U.S. dollar at 5 p.m. in Toronto.
USD/JPY The yen fell against most of its major peers as stock markets climbed amid reduced demand for haven assets and signs the U.S. economy is strengthening.
The yen weakened 0.1 percent to 78.17 dollars at 5 p.m. New York time.
Commodities Gold climbed and was set for the first weekly gain in three after better-than-expected U.S. economic data damped demand for the dollar as a haven investment.
Spot gold snapped two days of losses to rise as much as 0.5 percent to $1,614.05 an ounce. It was at $1,611.45 at 12:48 p.m. in Singapore, up 0.8 percent this week.
Oil headed for its biggest weekly gain in almost two months in New York after U.S. economic reports indicated that growth in the world’s biggest crude consumer will accelerate. Crude for February delivery was at $99.87 a barrel, up 34 cents, in electronic trading on the New York Mercantile Exchange at 1:28 p.m. Singapore time.