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Forex market reviews

12 May 2015

Market sessions

Vladislav Antonov

Pound Grows on Manufacturing Data

The pound reacted with a growth to the strong data on manufacturing production in the UK. The index for UK manufacturing production in March stood at 0.5% MOM, 0.7% YOY (forecasted: 0.1% MOM, 0.2% YOY, previous: 0.1% MOM 0.1% YOY).
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Commodities

Anna Kokoreva

Brent Crude to Trade $64.5-66.5 per Barrel throughout Tuesday

Oil quotes on Tuesday morning have shown a growth. Brent crude at 10:10 EET was trading at $64.96, WTI with June delivery lifted to $59.30 a barrel. By Monday’s close the price of North Sea oil on June contracts was $64.83 per barrel and light crude with June delivery at the end of New York’s session stood at 59.19 a barrel.
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Metals: gold and silver

Leonid Matveev

Dollar Weakness Aiding Rise of Precious Metals

All of last week precious metals were gaining ground on the weakening of the dollar. A troy ounce of gold reached $1188.39 (+0.85%), platinum hit $1141 (+0.84%), silver peaked around $16.46 (+1.90%) and palladium went to $799.35 (+3.28%).
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Market sessions

Vladislav Antonov

Euro Stabilizing at 1.1150

On Monday the euro/dollar closed down but didn’t quite reach the forecasted target of 1.1070. The fall of the euro stopped around 1.1130. The euro was weak against the dollar and pound because of problems with Greece.
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11 May 2015

Market sessions

Analyst Contest participant

Alpari Analyst

European Commission Renews its Discussion of Greek Problems

On Friday Labor market statistics for the US in April were published: the level of unemployment fell by 0.1% to 5.4% and the NFP numbers grew to 223,000 from 85,000 in March. Both sets of data were a little worse than expected. The market practically didn’t flinch at release of this data and the euro/dollar pair finished the week at 1.12, having shown practically no real movement.
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Commodities

Anna Kokoreva

World Oil Prices Displaying Mixed Dynamics

Oil quotes this morning have displayed a mixed dynamic. Brent Crude at 11:10 EET was trading at $65.37 a barrel (a slight reduction on the previous trading session), WTI with June delivery lifted to $59.40 per barrel.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX NZD/CAD – Bull Speculation: Retreat from the Trend

Trading opportunities on currency pair: NZD/CAD rate has strayed from the trend line: Due to this it’s worth considering a growth of the New Zealander to 0.9169 as part of a correction. A break in the trend will cancel out further growth.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX USD/CAD – Bull Speculation: Developing on Ideas from 4th May

Trading opportunities for currency pair: idea about the pinbar from 4th May is still valid. In addition, a double bottom has formed. After a 1.2206 break, it’ll receive a confirmation. Taking into account this price model, the price zone was in the range of 1.2297-1.2494. The idea for growth will be cancelled out if the week closes below 1.1939.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX USD/NOK – Bull Speculation: Rebound from Lower Limit to Upper Limit of Canal.

Trading opportunities for currency pair: a dollar rebound from the lower to the upper limit of the canal is expected. As a target zone, set out a range between 7.5431 and 7.7144. After a break through 7.5385, the dollar’s growth will hasten. It’s difficult to say when this idea will be cancelled out. However, we don’t want the rate to drop below 7.38.
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Alexander Razuvaev
Alexander Razuvaev

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