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
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