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Hello, it's Wednesday, 15 August 2012 and I'm Martin Smith with the daily outlook from
UFX Markets.
The US Dollar traded mixed against the major currencies as the first increase in U.S. retail
sales in four months sent Treasury yields to the highest since May. PPI came out unchanged
at 0.3% and the Retail Sales 0.8% better than expected at 0.3%. The S&P 500 fell by 0.06%,
the Dow Jones fell by 0.01% and the NASDAQ fell by 0.07%.
Gold finished the trading day negative and closed at $1599.00 an ounce, a drop of 0.70%.
Crude Oil finished the trading day positive, closing at $93.24 a barrel.
The Euro closed almost unchanged versus most of the major currencies. The EUR/USD is trading
at a resistance level of 1.2450. If it succeeds in breaking this level, it may reach 1.2748.
Today, French and the Italian Banks are closed due to a holiday.
The Cable fell versus the US Dollar after it failed to breach 1.5725. Technically, according
to the 8 hour chart, the trend for the Pound continues to be bullish as long as the price
remains above 1.5625 with the Moving Average indicator supporting this trend.
The Australian Dollar fell against the US Dollar after it failed to breach resistance
at 1.0600. Technically, according to the daily chart, the trend for the pair remains bullish
as long as it maintains its support level of 1.0400. Breaking this could cause the pair
to move towards 1.0200.