UFXMarkets *Daily Forex Currency Trading News*15-October-2012

Hello, it’s Monday, October 15, 2012, and
I’m Martin Smith with the daily outlook from UFX Markets. The Dollar weakened slightly versus most majors
on Friday as speculation about Spain’s expected bailout rose. The Spanish bailout will trigger
ECB bond purchases. Wall Street finished mixed with the Dow Jones flat with a 0.02% gain,
NASDAQ fell by 0.17% and the S&P declined by 0.30%. PPI came out 1.1% stronger than
the 0.8% expected. Today, Retail and Core Retail Sales are due for released. Gold declined by 0.8% closing at 1,753 and
Crude by 0.8% closing at 91.63 as concerns regarding a supply disruption in the Middle
East faded. The Euro gained versus the Dollar over speculation
regarding Spain’s bailout. Industrial Production grew by 0.6% compared to the expected 0.4%
decline. EUR/USD was unable to cross above the 1.30 resistance level and a break below
1.29 is likely to send it down to 1.27 again. No economic data is expected today. The Pound gained versus the US Dollar, sending
investors towards higher yielding assets. GBP/USD is no longer oversold and could resume
the downtrend. The pair is nearing support at 1.5975 to 1.60, and if broken are likely
to accelerate the downtrend. No economic data is expected today.

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