FOREXYARD: Forex News Blog

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Market Trends 24.01.2013 Posted: 24 Jan 2013 01:11 AM PST Hey Everyone, Below are some market trends for today. Good luck! -Dan Gold- May see downward movement today Support- 1666.47 Resistance- 1693.29 Silver- May see downward movement today Support- 30.97 Resistance- 32.44 Crude Oil- May see upward movement today Support- 94.33 Resistance-96.73 Dax 30- May see downward movement today Support- 7604.25 Resistance- 7749.47 EUR/USD May see upward movement today Support- 1.3186 Resistance- 1. 3370 Read more forex news on our forex blog

Market Review 24.01.2013 Posted: 24 Jan 2013 01:10 AM PST The Australian dollar saw significant gains against the JPY last night, following the release of positive Chinese manufacturing data which boosted investor confidence in the global economic recovery. The AUD/JPY advanced close to 100 pips following the news, eventually reaching as high as 94.02. The Chinese news also helped the EUR/USD gain more than 40 pips. The pair, which peaked at 1.3346, saw a slight downward correction during the early morning session and is currently trading at 1.3325. Signs of progress in negotiations between US lawmakers to increase the federal government's borrowing limit caused gold prices to continue falling last night. The precious metal lost more than $8 an ounce during the Asian session, and is currently trading at $1680. Main News for Today German Flash Manufacturing PMI- 08:30 GMT • Forecasted to come in slightly higher than last month • If the indicator comes in above the expected 47.1, the euro could see upward movement during mid-day trading US Unemployment Claims- 13:00 GMT • Forecasted to come in slightly higher than last week's, which if true, would be a sign that the employment situation in the US is getting worse • If the indicator comes in above the forecasted 359K, the dollar could take losses during afternoon trading US Crude Oil Inventories- 16:00 GMT • Forecasted to come in significantly higher than last week's result, which if true, would be a sign of decreased demand in the US and may cause oil prices to turn bearish Read more forex news on our forex blog

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