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Global Markets Daily alp ari. research Fu n d amental - Alpari (UK)

Global Markets Daily alp ari. research Fu n d amental - Alpari (UK)

Global Markets Daily alp ari. research Fu n d amental - Alpari

alpari.research Fundamental | FX, Indices & Commodities November 27 2012 Global Markets Daily Forex Market Update � In the Asian session, the greenback is trading lower against most of the key currencies, as risk aversion declined among the investors. � News emerged early this morning, that Greece’s institutional lenders reached a deal in Brussels that is expected to pave the way for the country to receive almost €44 billion of financial aid, while bringing its debt down to a sustainable level. � European Central Bank President, Mario Draghi, welcomed the decision and stated that “The deal will reduce uncertainty, and increase confidence in Europe.” � The news sent the Euro rising and the Dollar falling, which sparked demand for risk that sent higher-yielding currencies gaining against the greenback. � In the US economic news, the Dallas Fed manufacturing business index fell to a reading of -2.80 in November from a reading of 1.80 recorded in October. Market had expected the index to rise to a reading of 2.0 in November. Separately, Chicago Fed National Activity Index dropped to a reading of -0.56 in October from a flat reading recorded in September. � Elsewhere, the Canadian Dollar fell against its US counterpart, as Bank of Canada Governor, Mark Carney, was named chief of the Bank of England, spurring speculation over who will replace him in Canada. � The greenback traded mostly lower in the New York session against the key currencies. EUR/USD � Today in the Asian session, at GMT0400, the pair is trading at 1.2983, with the EUR trading marginally lower from the New York close, reversing its early Asian session gains that came on back of the news that the Greece finally secured emergency loans from its international creditors. � EUR traded 0.19% higher against the USD in the New York session, with the pair closing the session at 1.2986. � In economic news, the Gfk research group reported that its German consumer climate index declined to a reading of 5.9 in December, from a downwardly revised 6.1 in November. In Italy, consumer confidence index fell to 84.8 in November, from a revised reading of 86.2 in October. � The pair traded at a high of 1.2992 and a low of 1.2955 in the New York session. � The pair is expected to find support at 1.2956, and a fall through could take it to the next support level of 1.2926. The first resistance is seen at 1.3004 and a rise through could take it to the next resistance level of 1.3022. USD/JPY 82.24 82.18 82.12 82.05 81.99 13:00 www.alpari.co.uk 14:30 16:00 Time in GMT 17:30 19:00 20:30 22:00 R3 Last 24 hours 1.3070 R2 1.3022 R1 1.3004 PP 1.2974 S1 1.2956 S2 1.2926 S3 1.2878 As at 22:00:00 GMT R3 83.64 R2 82.93 R1 82.49 PP 82.21 S1 81.78 S2 81.49 S3 80.78 Last 24 hours As at 22:00:00 GMT Currencies Current* Last Close % Chg 1W % Chg 1M % Chg 1Y % Chg EUR/USD 1.2983 1.2986 � 0.0% 1.3% 0.4% -1.9% GBP/USD 1.6035 1.6030 � 0.0% 0.8% -0.4% 3.8% USD/JPY 82.01 82.06 � -0.1% 0.8% 3.0% 5.5% EUR/CHF 1.2042 1.2037 � 0.0% 0.0% -0.4% -2.2% USD/CHF 0.9275 0.9267 � 0.1% -1.3% -0.8% -0.2% EUR/GBP 0.8097 0.8100 � 0.0% 0.5% 0.8% -5.6% GBP/JPY 131.51 131.56 � 0.0% 1.6% 2.5% 9.6% USD/CAD 0.9930 0.9931 � 0.0% -0.3% -0.5% -5.1% AUD/USD 1.0479 1.0476 � 0.0% 0.6% 1.1% 7.9% NZD/USD 0.8228 0.8223 � 0.1% 0.4% 0.0% 10.9% *Time: 04:00:00 GMT Last Close is New York Close at 22:00GMT 1.2994 1.2984 1.2974 1.2964 1.2954 13:00 14:30 16:00 Time in GMT � At GMT0400 this morning, the pair is trading at 82.01, with the USD trading 0.07% lower from the New York close. � In Japan, corporate service price index fell 0.7% (YoY) in October, against the expectations for a decline of 0.6% and compared to a 0.5% drop in September. � USD traded 0.07% lower against the JPY in the New York session, with the pair closing the session at 82.06. � However, gains in Yen were limited on growing expectations of bolder stimulus to spur nation's economy, as the country's opposition party has called for radical monetary stimulus to beat deflation. � The pair traded at a high of 82.23 and a low of 82.01 in the New York session. � The pair is expected to find support at 81.78, and a fall through could take it to the next support level of 81.49. The first resistance is seen at 82.49 and a rise through could take it to the next resistance level of 82.93. 17:30 19:00 20:30 1 22:00