UFXMarkets -Daily Gold & Forex Trading News-15-December-2011

Hello it’s Thursday, December 15 and I’m
Nathalie Woods with UFX Markets daily news. The Dollar rose against the major currencies
and Wall Street remained low for a third straight day after growing stress in Europe fueled
concern that the region is struggling to contain its sovereign debt crisis. Wall Street closed
negative as the NASDAQ decreased by 1.55% and the Dow Jones by 1.10%. Crude oil fell
by 5.2% closing at $94.95 a barrel. Gold fell by 4.60%, closing at $1,589.90 an ounce.
The Euro fell below 1.30 against the Dollar as signs of increased funding stress in Europe
damped investor appetite for the currency. The EUR/USD’s trend is negative after breaking
1.3150 level and the next support level on the one hour chart is located at 1.2940. Overall,
EUR/USD traded with a low of 1.2945 and with a high of 1.3064. The EUR/USD last traded
at 1.2989. The Pound was not constant versus the Dollar,
closing with losses as the negative momentum of the global market drifted the pound into
its weakness. As long as the GBPUSD is trading below the 1.5540 level, the Pound’s momentum
is bearish. Overall, GBP/USD traded with a low of 1.5408 and with a high of 1.5531. The
GBP/USD last traded at 1.5447. The Yen fell versus the Dollar and strengthened
against the Euro as risk aversion remained lower following the debt crisis news, which
led the traders to prefer safety assets. The USD/JPY has been trading within a narrow range
in the past week and as long as the pair is trading above the 77.50 level, the Dollar
is more attractive. Overall, USD/JPY traded with a low of 77.92 and with a high of 78.16.
The USD/JPY last traded at 78.06. The Canadian Dollar weakened to its lowest
point in more than two weeks against the Dollar. As long as the pair is trading above the 1.0250
level, the US Dollar’s momentum is strongly bullish. Overall, the USD/CAD traded with
a low of 1.0327 and with a high of 1.0423. The USD/CAD last traded at 1.0384.
Thank you for joining us today. For more information please visit us at www.ufxmarkets.com for
all your online trading needs. I’m Nathalie Woods wishing you a happy trading.

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