UFXMarkets -Daily Gold & Forex Trading News-6-February-2012

UFXMarkets -Daily Gold & Forex Trading News-6-February-2012


Hello, it’s Monday, 6 February 2012, and I’m
Martin Smith with the daily outlook from UFX Markets. The Dollar traded mixed against the major
currencies after U.S. employers added more jobs than forecast, with the Unemployment
Rate coming out at 8.30%, better than the expected 8.50%. Wall Street closed positive
as S&P increased by 1.46% and the Dow leapt by 1.23%. Crude increased by 1.50%, to close
at $97.84a barrel. Gold (XAU) fell by $ 34 to finish at $1725.70 an ounce. The Euro weakened versus the Dollar as no
agreement was reached over the Greek debt crisis. Also, Retail Sales came out -0.40%
worse than expected. The EUR/USD continues to struggle between 1.3220 and 1.3020 with
no specific trend in evidence. Overall, the pair traded with a low of 1.3065 and a high
of 1.3205. The Pound strengthened a little against the
Dollar after Service PMI came out 56.0 better than expected 53.5. The GBP/USD’s momentum
remains bullish as long as the rate remains above 1.5750. Overall, the pair traded with
a low of 1.5749 and a high of 1.5859. Today, BRC Retail Sales Monitor is expected to come
out -0.80% vs. 2.20% previously. The Yen fell against the Dollar after U.S.
employers added more jobs than forecast. The USD/JPY’s momentum is bearish as long as
the pair is trading below 76.80. Next support is at 76.00. Overall, the pair traded with
a low of 76.13 and a high of 76.72. No economic data is expected today. The Canadian Dollar rose against the greenback
as stronger economic data from the nation’s biggest trade partner helped fuel appetite
for riskier assets. Employment Change came out 2.3K worse than expected and the Unemployment
Rate rose from 7.5% to 7.6%. Overall, the pair traded with a low of 0.9924 and a high
of 1.0032.

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