Kiwi dollar remains firmly on the backfoot today.
On Wednesday Euro/Dollar continued trading within 50 pip range. The European currency appreciated from 1.3534 to 1.3584 yesterday, matching the positive money flow sentiment at almost +9%, closing the day at 1.3543. This morning the Euro descended slightly, reaching 1.3529.
Over the last couple of months the GBP/USD has established and traded within a trading range roughly around the key level of 1.6450, whilst moving down to support at 1.6250 and up to 1.66.
S&P 500 closed 1.06 point higher (0.06%), however as prices were weaving in and out between gains and losses, it is more apt to say that prices are trading flat rather than mildly bullish. This flat trading was a result of uneven earnings reports, which caused market to be slightly
GOLD The commodity remains weak and vulnerable to the downside following its Tuesday failed recovery. As long as the 1,267.75 level, its Dec 10’2013 high and its declining trendline continue to hold as resistance, risk remains lower
For the best part of the last month the Australian dollar has established and traded within a narrow range roughly between 0.88 and the recent resistance level at 0.90. However for the most part over the last week the Australian dollar has fallen sharply back down to the support level
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The Foreign Exchange market, also referred to as the "Forex" or "FX" market, is the largest financial market in the world, with a daily average turnover larger than the combined volume of all U.S. equity markets.
"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
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