UFXMarkets *Daily Forex Currency Trading News* 30-April-2012

Hello, it’s Monday April 30, 2012 and I’m
Tony Christopher with the daily outlook from UFX Markets. Wall Street closed the trading week in the
green as the NASDAQ rose by 0.62% closing at 3,069.20; the Dow Jones added 0.18% to
its value, closing at 13,228.30. The S&P closed positive, strengthened by 0.24%, closing at
1,403.36points. U.S. stocks rallied, driving the Standard & Poor’s 500 Index to its best
weekly gain since March, as earnings from Apple and Amazon to AT&T beat forecasts. The US Dollar fell versus most of the majors
after a report showed the U.S. economy grew less than forecast in the first quarter. The
U.S Advance GDP rose by 2.20% vs. 2.60% forecast. Today, Personal Spending is expected to grow
by 0.40% vs. 0.80% previously and Chicago PMI is expected with 60.90 vs. 62.20 previously. Commodities Now: Gold (XAU) rose by 0.40%,
closing at $1,662.00 an ounce. Gold (XAU) – Last: 1662. Crude oil rose by 0.90%, closing
at $104.70 a barrel. Crude Oil – Last: 104.75 Euro (EUR) – Trading above the support level
of 1.3170 will keep the momentum of the pair positive, and the pair may again test its
strong resistance level of 1.3280. But if the pair doesn’t break this resistance level,
it may retrace the 1.3200 level once again. The RSI is around 58, meaning that it is still
on an uptrend. Overall, the EUR/USD traded with a low of 1.3156 and with a high of 1.3269.
Today, German Retail Sales are expected to grow by 0.80% vs. -1.10% previously and CPI
Flash Estimate is expected to grow by 2.50% vs. 2.60% previously. EUR/USD – Last: 1.3250 – The British pound
strengthened for a second week versus the dollar on speculation the central bank will
pause its stimulus program even after the nation slipped back into recession. The Pound/Us
Dollar pair remains bullish at 1.6270 if it maintains its support level of 1.6180 and
it may test its strong resistance level of 1.6280 once again… The Australian and US Dollar pair, at 1.0450,
will continue to be bullish if it maintains its support level of 1.0380. Tomorrow, the
Reserve Bank of Australia is expected to lower it interest rate by 0.25% from 4.25% at 4.00%. Well, that’s it for today, I’m Tony Christopher
for the daily outlook from UFX Markets.

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