{"id":9399,"date":"2010-05-13T08:58:05","date_gmt":"2010-05-13T12:58:05","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9399"},"modified":"2010-05-13T08:58:05","modified_gmt":"2010-05-13T12:58:05","slug":"forex-market-review-05132010","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/13\/forex-market-review-05132010\/","title":{"rendered":"Forex Market Review 05\/13\/2010"},"content":{"rendered":"

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

Upcoming Sessions (all times GMT)
\n\u2022\u00a0GBP Trade Balance (0830)
\n\u2022\u00a0USD Unemployment Claims(1230)
\n\u2022\u00a0USD Fed Chairman Bernanke Speaks(1230)
\n\u2022\u00a0NZD Retail Sales m\/m(12:45)<\/span><\/p>\n

The Euro appreciated slightly against the U.S Dollar in this morning\u2019s session, but continued to hover around its new 14-month low as investors remained skeptical about the region\u2019s growth as well as the risks of the sovereign debt crisis. <\/span><\/p>\n

EURUSD<\/strong>
\nYesterday, the Euro continued on its downwards slide against the U.S Dollar as concerns about the region\u2019s economic growth \"\"<\/a>dampened optimism of Spain\u2019s public spending cut and of a successful bond sale in Portugal. The Euro lost another 0.2% falling to $1.2628 after previously reaching $1.2739.
\nSupport\/Resistance 1.2610\/1.2740<\/span><\/p>\n

GBPUSD<\/strong>
\nThe British Pound slide yesterday against the U.S Dollar, erasing the majority of the gains made after the Conservative party leader David Cameron was appointed Prime Minister. The Pound fell to $1.4879 after the Bank of England Governor reported that growth risks had increased over the last three months, and a resumption of Quantitative Easing was possible. According to the BOE\u2019s report, U.K inflation will fall below 2% even if the benchmark interest rate remains at its current historical low level of 0.5%.
\nThis morning, the bureau of national statistics will release the U.K Trade Balance \u2013 which is expected to widen slightly from -6.2B to -6.5B.
\nSupport\/Resistance 1.4815\/1.4945<\/span><\/p>\n

Gold <\/strong>
\nSkepticism that the $1 Trillion rescue package will not solve the EU\u2019s debt crisis, have pushed Gold prices to record high levels of $1248.
\n<\/span><\/p>\n

According to University of Maryland professor Peter Morici \u201cthe Greek bailout does not address the underlying fiscal problem — the absence of EU taxing and spending authority. Investors, fearing the worst, are hedging by putting more of their portfolios into gold, and the price of gold rises.”
\nSupport\/Resistance 1039.50\/1249.10<\/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":"

By Finexo – The Euro appreciated slightly against the U.S Dollar in this morning\u2019s session, but continued to hover around its new 14-month low as investors remained skeptical about the region\u2019s growth as well…<\/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-9399","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9399","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=9399"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9399\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}