{"id":9362,"date":"2010-05-12T08:50:08","date_gmt":"2010-05-12T12:50:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9362"},"modified":"2010-05-12T08:50:08","modified_gmt":"2010-05-12T12:50:08","slug":"forex-market-review-05122010","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/12\/forex-market-review-05122010\/","title":{"rendered":"Forex Market Review 05\/12\/2010"},"content":{"rendered":"

Market Analysis <\/strong><\/strong><\/strong>by Finexo.com<\/strong><\/a><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/p>\n

Upcoming sessions (all times GMT)
\n\u2022\u00a0 EUR German Prelim GDP q\/q (06:00)
\n\u2022\u00a0 GBP Claimant Count Change (08:30)
\n\u2022\u00a0 GBP BOE Gov King Speaks (09:30)
\n\u2022\u00a0 GBP BOE Inflation Report (09:30)
\n\u2022\u00a0 CAD Trade Balance (12:30)
\n\u2022\u00a0 USD Trade Balance (12:30)
\n<\/span><\/p>\n

The Euro continues to remain bearish as the investors remain worried about the euro zone\u2019s ability to tackle the fiscal deficit in Greece, and a possible \u201ccontagion\u201d effect. Even after the announcement of a definite rescue package, concerns remain high that the 110 billion-euro bailout fund will not be enough to save Greece , not stop it from spreading across the single currency zone. <\/span><\/p>\n

\"\"<\/a>The U.S. Stock market did show some stability as the major indexes rebounded from the big drop last week. <\/span><\/p>\n


\nEURUSD<\/strong>
\nThe Euro fell for a second day yesterday as concerns escalated that region\u2019s most-indebted nations will continue struggle to contain their deficits. The single currency slipped about 0.2% to trade around $1.2642 during the late U.S session yesterday.
\nThe Euro continues to slide against the U.S Dollar, testing the support levels at 1.2600. The imminent resistance can be seen at 1.2660 levels. The market will watch to what degree the Euro Zone and the IMF are committed to solve the debt crisis and if these authorities will be able to increase taxes and cut spending.
\nSupport\/Resistance 1.2600\/1.2750
\n<\/span><\/p>\n

GBPUSD<\/strong>
\nFive days after the general election, Britain finally has its new Prime Minister – Conservative Party leader David Cameron.
\nAlso out yesterday, the U.K Manufacturing rose more than five times its expected value, as the current weakness of the Pound strengthened exports across the board. Manufacturing output jumped 2.3% from February \u2013 its biggest gain since 2002. Moreover, Industrial production rose 2.0 m\/m and the housing market also showed signs of recovery.
\nLater today, the Bank of England will announce its quarterly Inflation report.
\nIf all news from the U.K is deemed positive, the GBP might test the $1.4964 levels.
\nSupport\/Resistance 1.4860\/1.4964<\/span><\/p>\n

Gold <\/strong>
\nGold continues to trade bullish with the next targets set at 1300 levels. Rising concerns over the European debt crisis and the instability of its single currency have pushed investors into more risk adverse assets. Yesterday, gold continued to prove to be the safe haven for the investors as it traded at the all time high. According to Barclays gold can move as high as $1500.
\nSupport\/Resistance 1043.49\/1300 <\/span><\/p>\n

Forex Market Review & Analysis by Finexo.com<\/a><\/strong><\/p>\n

Disclaimer: Trading the foreign exchange (Forex) carries a high level of risk, and may not be suitable for all investors. All information and opinions contained on this website are to be used for general informational purposes only and do not consitute investment advice.<\/p>\n","protected":false},"excerpt":{"rendered":"

Market Analysis by Finexo.com Upcoming sessions (all times GMT) \u2022\u00a0 EUR German Prelim GDP q\/q (06:00) \u2022\u00a0 GBP Claimant Count Change (08:30) \u2022\u00a0 GBP BOE Gov King Speaks (09:30) \u2022\u00a0 GBP BOE Inflation Report (09:30) \u2022\u00a0 CAD Trade Balance (12:30) \u2022\u00a0 USD Trade Balance (12:30) The Euro continues to remain bearish as the investors remain … <\/p>\n

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