UFXMarkets *Daily Forex Currency Trading News* 14-June-2012


Hello, it’s Thursday 14 June 2012 and I’m
Martin Smith with the daily outlook from UFX Markets. Wall Street closed the trading day in the
red as the NASDAQ fell by 0.83% the Dow lost 1.05% from its value and the S&P closed negative,
dropping by 1.16%. The US Dollar traded mixed against most of
the majors as the investors still await the Greek election results next week. Core Retail
Sales m/m came out lower than expected at -0.40$ and the PPI declined to -1.0%. Gold (XAU) gained for the third straight session
by 0.43% on speculation that policy makers will announce additional stimulus measures
to boost growth, increasing demand for bullion as a hedge against inflation. Gold closed
at $1,617.00 an ounce. Crude oil fell by 0.50%, closing at $82.60 a barrel The USD fell against the EUR following a two-day
slide. According the hourly chart, breaking the support level at 1.2525 could lead the
pair to the next support level at 1.2450, but if the pair breaches 1.2600 it may reach
1.2700. The Pound closed negative against the USD
below its resistance level of 1.5600. The pair failed to breach this level for a third
day, and as long as the pound trades below this, the trend will remain bearish. The Australian Dollar fell against the U.S
Dollar. The pair is still moving in a daily range and only breaking the support level
at 0.9860 could lead the pair for a clearer bullish or bearish trend.

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