Daily Review 20-4-2012

The  Spanish government sold  bonds worth 2.5 billion euros which was more then the target,  which was considered a key test of the market confidence in attempts to Madrid to cleanse their public finances

In Germany, economic institutes, published quarterly reports and all of which proved the existence of a slight growth this year of 0.9%. Most reports also pointed to a decline in the unemployment rate which reached 6.6%, in addition to reducing the budget deficit to 0.6% of gross domestic product.

In the United States government report showed a decline less than expected for new applications for unemployment benefits the U.S. last week, which could reduce the hopes of a recovery of job creation in April after a slower pace in March, but the number of housing units that have been sold in the United States fell   March, but the supply of properties on the market as prices decrease,

In commodity markets, gold got declined on Thursday, the fifth straight session of losses affected by renewed concerns about the debt of Europe and the U.S. labor market. The  U.S. crude oil closed for a second straight session with a decline  on in volatile trade the  prices were  under pressure cause by weak economic data .

                                 ↓ DOW 0.63% ↓ S & P 0.41% ↓ NSDQ 0.37%

 

 

EUR / USD
 

The pair euro dollar saw round of  volatile trading day yesterday as a result of the debt crisis in the euro zone.  EURUSD achieved the highest level at 1.3164, while the lowest at 1.3068,.

The pair is trading at the level 1.3140, if the pair break through key resistance at 1.3160, it is expected to face a  next level of 1.3180, while the breaking the level  of 1.3065 could postpone achieving these expectations.

The trading range for the day: Resistance 1.3160 ​​1.3180 1.3210

                               Support 1.2995 1.3040 1.3065



 

 

 

GBP / USD

Sterling rose against the dollar in trading  yesterday for more than 40 points, and achieved the highest level at 1.6076, while the lowest at 1.6008.  Most likely the pair will try to test the resistance level at 1.6070, with  the break  of 1.6000 would delay the achievement of these expectations.

The trading range for the day: Resistance 1.6070 1.6100 1.6130

                             Support 1.5910 1.5965 1.6000



 

 

 

Gold GOLD

The precious metal got declined in yesterdays trading  for  the fifth straight session of losses affected by renewed concerns about the debt of Europe and the U.S. labor market. The gold hit the highest level 1653.64, while the lowest at1630.85, at most, the gold will try to test the resistance level in 1654 with the penetration level of 1634 may postpone the achievement of these expectations.

The trading range for the day: Resistance 1654 1663 1668

                            Support 1620 1630 1634



 

 

 

Oil WTI - Crude Oil

The U.S. crude oil was traded with a decline  for a second straight session as the prices were  under pressure caused by  weak economic data. The prices of the crude oil futures were ranging between 103.63 and 102.11 dollars a barrel. Most likely the oil will try to test support level at 102.30 while the penetration level of 104.00 may postpone achieving these expectations.

The trading range for the day: Resistance 104.00 104.50 105.50

                            Support 101.40 99.20 102.30