Euro: The euro rose on the background of the decision made by the finance ministers of eurozone and the International Monetary Fund to lower the borrowing costs and extend the repayment period for Greece. After 10 hours of debate in Brussels they finally agreed on launching the next tranche of loans the 43.7 billion euros to the country. The EUR / USD pair rose to $ 1.3010 during the Asian session, however dropped sharply at the European one, setting the low at $ 1.2935 area. The euro retreated on concerns that the deal on repurchasing its own bonds by Greece may fail and lead to an increase of the amount of payments from the rescue fund.
British Pound: The pound strengthened today during the European session on speculations that the agreement, which was aimed for easing conditions of payments for Greece will not be able to stop the spread of debt crisis in Euro zone. The sterling also gained support and grew against almost all its major counterparts after publication of the GDP report, which confirmed the UK economy expansion. As it was reported, the gross domestic product rose by 1% in the third quarter, which was in line with expectations. The GDP of UK increased significantly in Q3 due to the Olympic Games. The GBP / USD pair set a high at $ 1.6050.
Japanese Yen: The Japanese currency was growing for the third day against the dollar. The investors expected that the leader of the main opposition Mr. Abe, who is the most likely candidate for the prime minister at the end of the general election scheduled in this December and will force the Bank of Japan to conduct more aggressive policy on support and stimulate economic growth. The USD / JPY pair rose to the level of Y82.31 during the Asian session.
Australian dollar: After the euro zone finance ministers and IMF reached an agreement on financing the Greece's debt, the Australian dollar reached its highest level in two months against the dollar.
American trading session:
U.S. Dollar: For the growth dollar contributed the economic data which was published today. The report on Durable Goods Orders in October showed that the value has a zero change instead of the expected decline of 0.6 %. The Durables goods excluding Transportation orders increased even by 1.5% despite negative expectations. In addition, the consumer confidence index in November grew more than it was expected, to 73.7 from 73.1 points. The currency also got support from the President of the Federal Reserve Bank of Dallas, Mr. Fisher, who at the conference in Berlin expressed fears of “quantitative easing" program which for the third time was recently introduced by the U.S Federal Reserve.
Gold: The Gold became cheaper against the strengthening of the dollar after the U.S. consumer confidence reached a four -year high in November. The December futures price of gold fell to 1740.50 dollars per ounce on COMEX today.
Oil: The Oil continued its second day of decline dropping on New York trading session amid forecasts of increasing of U.S Crude oil reserves and fears that a bailout plan for Greece could be disrupted. The January price of WTI futures fell to 86.81 dollars per barrel today.
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TCHNICAL ANALYSIS FOR 28.11, 2012
EURUSD
The pair is trading between 1.30277 and 1.28630.
Resistance: 1.30277, 1.31674, 1.33143
Support: 1.28630, 1.26897, 1.25690
GBPUSD
The pair has risen to the resistance level at 1.60322 and rolling back to the Moving Average (100) at 1.59529.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair is aiming to the median line at 0.92026.
Resistance: 0.93069, 0.93949, 0.95074
Support: 0.92026, 0.91079, 0.89635
USDJPY
The pair is trying to stay above 82.219. The indicators warn the possible corrections. First aim is at 81.399.
Resistance: 82.219, 83.065, 83.933
Support: 81.399, 80.438, 79.707
AUDUSD
The pair has broken 1.04407 and aiming to test 1.05332.
Resistance: 1.05332, 1.06164, 1.07005
Support: 1.04407, 1.03535, 1.02558
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