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Hello, it's Thursday, September 15, 2011 and I'm Sam Jones with the daily outlook from
UFX Bank.
The Dollar was mixed against the major currencies as U.S. retail sales unexpectedly weakened
in August. Wall Street closed on a bullish note as NASDAQ increased by 1.6% and the Dow
Jones by 1.27% respectively. Crude oil declined by 1.4%, closing at $88.91 a barrel. Gold
(XAU) weakened by 0.2% finishing at $1,826.50 an ounce. CPI is expected to be 0.2% vs. 0.5%
previously.
The Euro rose against the Dollar. The EURO DOLLAR's momentum is bullish after breaking
the 1.3700 level yesterday. Overall, the EURO DOLLAR traded with a low of 1.3591 and with
a high of 1.3783. The Pound fell sharply for a fifth day against
the dollar. As long as the POUND DOLLAR is trading below the 1.5840 level the trend of
the pound is still very bearish. Overall, the POUND DOLLAR traded with a low of 1.5706
and with a high of 1.5814. Today, Retail Sales are expected to become negative from 0.2%
to -0.2%. The Yen rose against the Dollar as investors
sought the safest assets after China put conditions on support to Europe’s highly indebted economies.
Overall, the DOLLAR YEN traded with a low of 76.59 and with a high of 77.06. No economic
data is expected today. The Canadian Dollar fell for the first time
in three days against the Dollar. As long as the pair is trading above 0.9850 level
the trend of the US Dollar is bullish. Overall, the CANADIAN DOLLAR traded with a low of 0.9846
and with a high of 0.9940. Today, Manufacturing Sales are expected to become positive from
-1.5% to 1.20%.
That's all for today. Be sure to visit us at UFXbank.com for simple, safe, secure trading.