FOREXYARD: Forex News Blog

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Market Trends 10.01.2013 Posted: 10 Jan 2013 02:03 AM PST Hey Everyone, Below are some market trends for today. Good luck! -Dan Gold- May see upward movement today Support- 1640.98 Resistance- 1694.86 Silver- May see upward movement today Support- 29.35 Resistance- 31.49 Crude Oil- May see upward movement today Support- 92.18 Resistance-94.81 Dax 30- May see downward movement today Support- 7616.82 Resistance- 7850.00 EUR/USD May see downward movement today Support- 1.2894 Resistance- 1.3163 Read more forex news on our forex blog

Market Review 10.01.2013 Posted: 10 Jan 2013 01:55 AM PST The AUD/USD advanced more than 70 pips during overnight trading, following the release of a better than expected Chinese trade balance figure. China is Australia's biggest trading partner, and positive news out of China typically benefits the aussie. Expectations that the Bank of Japan will initiate additional monetary easing, possible as soon as next week, caused the USD/JPY to extend its bullish trend. The pair is currently trading at 88.15, slightly below a recent 2 ½ year high. Crude oil prices gained more than $0.70 a barrel last night, as the positive Chinese news led to speculations that demand for oil in that country will go up in the near future. The commodity is currently trading at $93.69. Main News for Today EU Minimum Bid Rate/ECB Press Conference- 12:45/13:30 GMT • If the European Central Bank decides to lower euro-zone interest rates today, the euro is likely to take heavy losses during mid-day trading • Furthermore, if the ECB signals at today's press conference that the euro-zone has fallen deeper into recession, risk aversion is likely to weigh down on the euro US Unemployment Claims- 13:30 GMT • The unemployment claims figure is forecasted to come in at 361K, slightly below last week's 372K • A lower than expected figure today may be taken as a sign of further improvements in the US labor sector, which could benefit the US dollar during afternoon trading Read more forex news on our forex blog

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