UFXBank Forex News: Oil Stays Above $91 | Learn Forex | GoLearnForex.com

UFXBank Forex News: Oil Stays Above $91

Written by article default Monday, 27 December 2010 08:11

USD Dollar (USD) – The Dollar traded almost unchanged versus the major currencies of Forex trading as the Christmas holiday was celebrated on Friday. The Stock Markets in the U.S. were closed as well. Crude Oil was not tradable and its price remained above 91$ a barrel. Gold (XAU) fluctuated around $1380 an ounce. No economic data is expected today.

Euro (EUR) – The euro made no exception and traded for the fifth day on Friday within the same tight range, and incapable to determine further trend. As long as the EUR/USD pair remains in the 1.3050-1.32 boundaries, fluctuation will rule the pair. Overall, EUR/USD traded with a low of 1.3087 and with a high of 1.3147. No economic data is expected today.

EUR/USD – Last: 1.3125

British Pound (GBP) – The Pound struggles to keep above the 1.54 zone and it seems that until the end of this year, the GBP/USD pair will remain capped under the 1.55 resistance zone. Trading above the critical support zone of 1.53 might, once again, trigger a positive wave for the pair in the midterm. Overall, GBP/USD traded with a low of 1.5414 and with a high of 1.5443. Today, UK banks will be closed for the Christmas Holiday.

GBP/USD - Last: 1.5420

Japanese Yen (JPY) – The USD/JPY pair posted no change in Friday in a low volume session trading day. Holding above the key resistance level of 82.50 keeps the momentum positive for the pair and the US Dollar is more attractive for investors. Overall, USD/JPY traded with a low of 82.84 and with a high of 83.16. The Tokyo Core CPI is expected at -0.4% vs. -0.5% previously. The Retail sales are expected at 0.4% vs. -0.2% previously.

USD/JPY-Last: 82.87

Canadian dollar (CAD) – Canada's dollar had small gains against the U.S dollar on Friday as Crude Oil was not tradable and kept high levels above $90. Holding above the 1.0040 support area keeps the momentum positive for the pair. Overall, USD/CAD traded with a low of 1.0048 and with a high of 1.0114. Today, Canadian banks will be closed for the Christmas Holiday.

USD/CAD - Last: 1.0078