{"id":5895,"date":"2010-01-15T08:04:45","date_gmt":"2010-01-15T13:04:45","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5895"},"modified":"2010-01-15T08:04:45","modified_gmt":"2010-01-15T13:04:45","slug":"forex-daily-market-review-jan-15-10","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/15\/forex-daily-market-review-jan-15-10\/","title":{"rendered":"Forex Daily Market Review Jan 15, 10"},"content":{"rendered":"
\"\"<\/a><\/div>\n

 <\/p>\n

FX Market Movers<\/strong><\/p>\n

The Dollar weakened against most majors as the US Retail Sales figures unexpectedly dropped 0.3%<\/strong> in December. In addition, US Initial Jobless Claims climbed to 444K<\/strong> thus contributing to the negative sentiment for the greenback. It still managed to hold well against the Euro<\/em><\/strong> <\/a>nonetheless, as investors remained wary after ECB President Trichet\u2019s cautious outlook on the economy. Trichet stated that the central bank is in no hurry to raise interest rates and will continue its gradual withdrawal of extraordinary liquidity measures, shortly after the ECB\u2019s decision to leave benchmark interest rates unchanged at 1%<\/strong>. Commodity<\/em><\/strong><\/a>-linked currencies edged higher against its US peer with the Aussie dollar leading the bunch, as the better-than-expected Australian Employment Change lowered the country\u2019s Unemployment Rate to 5.5%<\/strong>. The Yen strengthened versus its US counterpart after the weak US economic data, driving USD\/JPY to an intraday drop below the 91<\/strong> level.<\/p>\n

Commodities<\/strong><\/p>\n

Gold<\/em><\/strong> <\/a>advanced for a second day as the Dollar weakened after the disappointing US economic reports. The yellow metal climbed from $1130<\/strong> an ounce to an intraday high just above $1145<\/strong> to finally settle around $1143<\/strong>. Silver strengthened as well, closing slightly below $18.65<\/strong>. Crude Oil dropped for a fourth day, settling below the $80<\/strong> mark, following the weak US data and the strong gain in stockpiles reported yesterday.<\/p>\n

The Day Ahead<\/strong><\/p>\n

During the European session the Swiss Producer and Import Prices report is due for release and the EU CPI is expected to rise 0.3%<\/strong> for December. In a day with consumer prices as the main attraction, US CPI is forecasted to show a 2.8%<\/strong> climb for last month. The Empire State Manufacturing and the Michigan Consumer Sentiment Index will also gather investors\u2019 attention as strong outcomes could have a positive effect on the Dollar.<\/p>\n

Technical Analysis<\/p>\n

EUR\/GBP DAILY<\/p>\n

\"\"<\/a><\/p>\n

Bullish Scenario<\/strong>– Support at 0.8830<\/strong> contains the bearish wave and sends the cross to a new bullish cycle.<\/p>\n

Target A<\/strong>– 0.9050<\/strong><\/p>\n

Target B<\/strong>– 0.9150<\/strong><\/p>\n

Bearish scenario<\/strong>– A break below the 0.8830<\/strong> level fuels the bearish momentum towards the next reliable support at 0.8700<\/strong>.<\/p>\n

Target A- 0.8700<\/strong><\/p>\n

Target B<\/strong>– 0.8545<\/strong><\/p>\n

Daily Forex Market Analysis provided by eToro<\/a><\/strong><\/p>\n

Disclaimer: Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and are willing to accept them in order to trade in the foreign exchange market. Don\u2019t trade with money you can\u2019t afford to lose.<\/p>\n

\u00a9 2009 eToro Blog.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By eToro – During the European session the Swiss Producer and Import Prices report is due for release and the EU CPI is expected to rise…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5895","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=5895"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5895\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}