FOREXYARD: Forex News Blog

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• Dollar Sees Modest Recovery Ahead of Retail Sales Data
• Market Trends 13.12.12
• Market Review 13.12.12

Dollar Sees Modest Recovery Ahead of Retail Sales Data Posted: 13 Dec 2012 05:28 AM PST The US dollar was able to recover some of yesterday’s losses during morning trading today, as investor’s attention began shifting from the expansion of the Fed’s bond back program back to the ongoing “fiscal cliff” negotiations. A lack of progress in the negotiations between US Congressional leaders and President Obama led to risk aversion among investors, which in turn boosted safe-haven assets. The EUR/USD has fallen close to 40 pips since the beginning of the European session, and is currently trading just above the 1.3050 level. The GBP/USD fell some 35 pips before reacing as low as 1.6115. The pair is currently trading at 1.36133. Looking toward the rest of the day, dollar traders will want to pay close attention to the US Retail Sales and Core Retail Sales figures, both set to be released at 13:30 GMT. If either of the indicators come in above their expected values, the greenback may be able to extend this morning’s bullish trend. Read more forex news on our forex blog

Market Trends 13.12.12 Posted: 13 Dec 2012 02:04 AM PST Hey Everyone, Below are some market trends for today. Good luck! -Dan Gold- May see upward movement today Support- 1688.70 Resistance- 1714.72 Silver- May see upward movement today Support- 32.55 Resistance- 33.33 Crude Oil- May see upward movement today Support- 85.77 Resistance-86.92 Dax 30- May see upward movement today Support- 7534.29 Resistance- 7630.56 EUR/USD May see downward movement today Support- 1.3012 Resistance- 1.3118 Read more forex news on our forex blog

Market Review 13.12.12 Posted: 13 Dec 2012 02:01 AM PST The US dollar extended its bearish trend against most of its higher-yielding currency rivals during overnight trading, following the Fed's announcement of a new round of quantitative easing yesterday. The EUR/USD gained some 30 pips to trade as high as 1.3097, while the USD/CHF fell 15 pips. Speculations that the Bank of Japan will initiate a new round of monetary easing following upcoming elections in Japan resulted in the USD/JPY gaining an additional 25 pips during Asian trading to trade as high as 83.65. After dropping more than $20 an ounce during afternoon trading yesterday, gold was able to stage a modest recovery last night, and is currently trading just below the $1700 level. Crude oil spent the majority of the night range trading around its current level of $86.50 a barrel. Main News for Today US Retail/Core Retail Sales- 13:30 GMT • While a significant improvement over last month is expected for the Retail Sales figure, the Core Retail Sales, (which excludes automobile sales), is forecasted to remain at 0.0% • A worse than expected result for either indicator today could lead to additional dollar losses during afternoon trading US PPI- 13:30 GMT • Forecasted to come in at -0.5%, which if true, would represent a decrease over last month • A worse than expected result today may lead to dollar losses US Unemployment Claims- 13:30 GMT • Forecasted to come in slightly below last week's figure, which if true, would represent an improvement in the US labor sector • If today's news comes in below the expected 368K, the dollar may be able to recoup some of its recent losses Read more forex news on our forex blog

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