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Nasdaq and Dow Jones Decrease

UFXBank Research from UFX Bank at 10/27/09


Daily Review 27/10/2009

USD Dollar (USD) – The Dollar strengthened versus most majors especially versus the Euro after Bank losses caused more concern and lifted Safety Demand again. NASDAQ and Dow Jones decreased by -0.59% and -1.04% respectively, Crude oil fell by -2.3% closing at 78.68$ a barrel , Gold (XAU) declined by -1.3% closing at 1042$ an ounce. Today, CB Consumer Confidence is expected at 53.7 vs. 53.1 prior, Treasury Sec Geithner will speak.
EURO (EUR) –The Euro fell versus the Dollar after declines in stocks and bank worries led to Risk Aversion. German consumer confidence unexpectedly fell for the first time in more than a year as concerns that rising energy prices and higher unemployment will erode spending power outweighed signs of economic recovery. Overall, EUR/USD traded with a low of 1.4844 and with a high of 1.5063. Today, M3 Money Supply is expected at 2.1% vs. 2.5% prior.
EUR/USD - Last: 1.4882

Resistance 1.4987 1.5051
Support 1.4845

British Pound (GBP) – The Pound slightly rose versus the Dollar after Monetary Policy Committee member Adam Posen said that The Bank of England’s asset purchase program is unlikely to spark runaway inflation because it was implemented to keep prices from falling too much. The Pound gained versus the Euro as well as last week's decline seemed exaggerated. Overall, GBP/USD traded with a low of 1.6251and with a high of 1.6394. Today, CBI Realized Sales are expected at 6 vs. 3 previously.
GBP/USD - Last: 1.6328

Resistance 1.6395 1.6636 1.6693
Support 1.6284 1.6250

Japanese Yen (JPY) –The Yen continued to decrease versus the dollar reaching its lowest rate in October due to stronger dollar against all other majors, but rose versus other majors on bank losses concerns. USD/JPY traded with a low of 91.57 and with a high of 92.28. No economic data expected today.
USD/JPY-Last: 92.08

Resistance 92.19 92.32
Support 92 91.7 91.57

Canadian dollar (CAD) – The Canadian Dollar depreciated to the lowest level in almost 3 weeks as the head of the nation’s central bank reiterated concern the currency has grown too strong and Crude Oil and stocks tumbled. Overall, USD/CAD traded with a low of 1.0502 and with a high of 1.0696. Today, BOC Gov Carney Speaks.
CAD/USD - Last: 1.0683

Resistance 1.0695
Support 1.0582 1.0500 1.0449

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