Market overview

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The USD strengthens during the European session after the Monday

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The Euro/Usd regains and starts to renew its uptrend.
The prices of the oil contracts increased today.
Because of the Chinese rate which has been increased increased the gold traded at higher levels today during the European session.
Yesterday the USD rose slightly against the Yen but then the pair was not be able to fix its gains and today it moves to the low levels again.

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The Eur/Usd strengthens and remains to become stronger day by day and breaks through Wednesday

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The G-20 of finance ministers met to discuss the perspectives of exchange rates regulation.

Today the oil is steady supported by unstable dollar because of the G-20 meeting. It was during the time of G-20 meeting expectations.

In general today all market is under fluctuation.

The interest of safe-haven currencies is increasing.

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Due to the unceasing expectations of a new quantitative easing session after the G-20 meeting this weekend, the USD continues to decrease against its main competitors. The results of the meeting show that the principal opinion is the following: the USD will continue to drop. And everybody is sure that USD/JPY will hit a new low record this week.

As a confirmation of this fact, today in the morning during the Asian session, the dollar reached a new low level against the yen. Also the oil was up as a result of the dollar

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During the Asian session today the US dollar demonstrated a little recovery and due to this fact the oil contracts and the gold were lower over the trading sessions.

The Eur/Usd is slight down today after being unable to fix the benefits. In general the pair continues to remain on the position around the zone of 1.40. Now market is waiting for new US events to choose the direction.

Today it

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The Fed is willing to renew its program of the US Treasury bond-purchasing which can help to reduce long-dated interest rates. On basis of the quantitative easing policy the authorities want to stimulate the economic recovery. They plan to mobilize investments in the amount of hundreds billion dollars.

According to this Fed news, during the Asian trading today, the US dollar was on its uptrend. Therefore the USD regained against the YEN and increased.

The EURO continues to follow its downside. Today the pair fell below 1.3800 level because the high session has been declined by the pair and Euro/USD came back to its support area.

The oil prices are fixing around $82-$83 values and as a commodity which is denominated in US dollars the oil depends on this currency. And due to the USD consolidation today, the oil remains at the same level without big changes.

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Today investors are waiting for US gross domestic product (GDP)data and the Federal Reserve meeting regarding a new session of QE (quantitative easing) measures.
Due to these expectations the US dollar rose during the European session because the US GDP is anticipated to rise in the third quarter of 2010.

Today also the annual inflation rate became known in Europe and it was not good figures because the inflation increased and reached the high levels.

The Euro dropped against the USD today based on the mentioned above economic events and the currency was moving from its high to the new session low.

The oil keeps on its downside and it's still below the level of $82. Together with the oil the main metals traded lower today getting under the influence of market expectations regarding the new US FOMC meeting which will take place next week.

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The Us dollar is under pressure of a new Fed meeting regarding the next session of QE measures and the oil is rising on waiting for this event.

The Euro consolidates during the European session and due to this slight recovery Eur/Usd approaches to the very important resistance level of 1.4000.

The European currency has been supported also by the manufacturing PMI figures which showed that this October's indicator increased and buoyed up the Euro.

During the European trading the USD was higher against the JPY today and now the pair keeps testing the new resistance area.

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Asian session: The most of Asian stocks were rising but investors preferred do not risk and wait for the upcoming FOMC (Federal Open Market Committee) meeting. Currently everybody is focusing on the quantitative easing (QE) policy intensity. How deep will be these Fed measures?

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FOMC meeting points:

The Fed will try to aid economic recovery by buying $600 billion of government bonds till the June of 2011 with a chief aim to reduce interest rates. Also Ben Bernanke (the FED Chairman) underlines that it

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The USD recovered against its main competitors after US nonfarm payrolls figures were better than expected. Only the Japanese Yen continues to rise and do not let USD regain.

The European markets are in downtrend mood today: the Euro dropped to a new session low and Eur/Usd approaches the important area of 1.4000.

The last week was under the sign of Fed meeting regarding the second QE round. Since today markets will be concentrated on other important events. Within this week the Euro zone economic will be at the center of attention.

Due to unsteady US dollar currently investors find the Gold as the best investments protection.

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The new worries regarding European sovereign debts wrapped round markets.

This new fears have supported the gold prices which increased and approached new high level.

The GBP/USD is trying to fix the direction, currently the pair recovers after the morning session lows. But it's necessary to wait until a confirmation will be given.

The EUR/USD recovers after losses and trying to reach a new day high. During the day the pair fluctuates on market reactions.

The USD/JPY confirms again its downtrend and moves to new low point at 80.60.

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According to the Us Economic Analysis regarding the US trade balance the deficit has been reduced.

Due to the upbeat economic date from US, the dollar recovers against the Yen today. The pair consolidates and reaches a new daily high around the area of 82.60.

Thanks to the inflation report the British pound rebounds against the USD and regains more than 100 pips during the European trading.

Yesterday the crude oil contracts dropped because of the US dollar consolidation against its main competitors on Tuesday but today the oil as a dollar-denominated commodity recovers.

Due to the worries on sovereign debts in Europe, the market participants continue to give preference to assets as gold. On European session hours the gold contracts prices were higher.

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Over all trading sessions today the Euro is still under pressure of worries on sovereign debts in European countries. The Eur/Usd could not break its resistance level and dropped back to a session low below 1.3700. Currently the pair is trying to regain.

The GBP found consolidation against the US dollar around the area of 1.6140. Because of being pulled back 2 days ago the pair did manage to rebound from the support level and now the pair consolidates.

Due to the figures of Chinese industrial production report which has showed the high demand of the oil in China, the oil contracts increased immensely.

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The European markets drooped after the Irish authorities declined the financial aid from European Union. Therefore the sovereign debt worries remain to prevail over the markets.

Ireland refused the EU help and it provoked the US dollar growth today.

Thereby on European trading hours the Eur/Usd fell at 1.3600. Now everything will be depend on the daily pair results: whether the pair would find a support next to 1.3570 or resistance above 1.3770.

The USD/JPY also is in uptrend today and during the Asian session the pair recovers from Friday's low.

Gold was lower in the morning after US dollar increased against euro. Same with oil which was trading lower on dollar's recovery against its main competitors.

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Yesterday the European markets rose on expectations regarding situation with Ireland which might accept the financial aid from the European Union and the International Monetary Fund. Resolving the situation with Irish sovereign debts could make a valuable contribution to the whole euro countries area.

Today according to this event the Euro keeps rising against the US dollar. The Eur/Usd broke its resistance level confirming its uptrend.

All these news from euro-zone have a bad influence on US dollar and make the currency very unstable. Based on a weaker US dollar, the gold prices increased today.

The British pound demonstrates recovery today against the US dollar. During the day there are resistance and support levels on the pairs way.

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The Euro keeps falling today under the influence of Euro countries debt fears. European currency lost more than 100 pips and remains to follow its downtrend. Currently 1.300 is a psychological area for the Eur/Usd.

The USD/JPY is moving lower and reached the support level of 83.75 and thanks to its support currently the pair is trading around 83.87.

The debt problems of some European countries as Spain and Portugal are very serious. The oil prices dropped on expectations that the EU and the IMF might have to provide a bailout for these countries too.

The CPI (Consumer Price Index) for November has not changed according to the preliminary figures released today by the Eurostat. The actual value is %1.9.

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After the President of European Central Bank (EC has not announced any concrete points regarding government bonds purchasing, the EUR/USD dropped to the session low. Currently the pair is trading next to 1.3111 and it's necessary to wait for a confirmation signal (resistance or support level).

Today the British pound shows a strongly downside orientation. The GBP/USD reached its daily low level and lost more 130 pips.

After soft US job figures the base metals started to shift from its morning high levels to the lower positions.

According the ECB decision, the interest rates will not change.

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During the European session today the Euro recovers on expectations of government bonds purchasing. According to market talks the European Central Bank is going to buy Portuguese and Irish government bonds. Due to these talks, the Eur/Usd rose above 1.3252. Also this tendency has been supported by stable figures of Eurozone such as PMI and retail sales which increased.

This entire situation with European countries debts raised market expectations in a high oil demand that's why the oil prices skyrockets today and fixed around the record level of $88 per a barrel.

Also the gold demonstrates a strong upward trend generated by US inflation anxiety and all other factors dominated the world markets.

The GBP rebounds and moves higher today. Currently the GBP/USD pair tries to test and break its week high at 1.5665. If this level is passed, the pair will find the resistance at 1.5770.