Finotec News Archive - January 29 2008
In Depth Analysis
USD/CAD - USD looking to bounce against the CAD after slump against majors - The Canadian dollar was mostly unchanged versus the U.S. dollar on Monday morning as currency investors avoided huge bets ahead of key economic data and the U.S. Federal Reserve's rate decision due later this week.
Commodities News
Fed Expected rate cut push the Oil higher - “Bullish trend might continue depending on the interest rate cut and whether it’s going to be enough to support the broader economy and equity market”, Reported Finotec’s dealing desk
Gold consolidates before new leap - “In the short term we might see the Gold testing the new high of $940.0 per ounce”, Reported Finotec’s dealing desk.
Forex Pairs Daily Analysis
USD/CHF- market strategy is to sell the pair on break of support level 1.0848 - the pair trades on narrow bollinger band between 1.0848 to 1.0983
EUR/USD-market strategy is to buy the pair at 1.4715 - Pair tendency this week is bullish
GBP/USD-market strategy is to buy at the level of 1.9730 till 1.9960 - The pair bullish trend starts on January 22, 2008
USD/JPY-market strategy is to buy on break 107.15 - The pair trades in wide bollinger range between 105.77 to 107.77
Forex Daily Analysis
Dollar shows weakness before Fed and data - Ahead in the US, the Federal Reserve meets for the first day in two days meeting where 50 point easing seems a mere formality. Data for durable goods orders and consumer confidence is expected to be moderate.