July 31 2010

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USD Dollar (USD) – The Dollar was mixed against other major currencies in Forex Trading after worse than expected U.S. data on durable goods orders that came at -0.6% vs. 0.6% forecast, leaving traders clueless of the market direction. The NASDAQ and Dow Jones declined by 1.04% and 0.38% respectively. Crude weakened by 0.7% closing at $77 a barrel. Gold (XAU) strengthened by 0.2% closing at $1160.4 an ounce. Today, Unemployment Claims are expected to weaken from 464K to 457K.

EURO (EUR) – The Euro traded on a narrow range versus the Dollar for the second consecutive day as traders continued to digest the recent stress tests results. The main resistance of the EUR/USD on the daily chart is 1.3050. If the pair trades above this level, the momentum continues to be bullish. The main support on the daily chart is located at 1.2700. Overall, EUR/USD traded with a low of 1.2966 and with a high of 1.3042. Today, German Unemployment Change is expected at -18K vs. -21K prior. EUR/USD – Last: 1.2998

British Pound (GBP) – The Pound closed almost unchanged versus the Dollar after touching the highest rate in 5 months during the session due to bad economic data like the durable goods orders in the US which fell more than expected. The main support of the GBP/USD on the one hour chart is 1.5430, if the price trades below this level the momentum will be bearish, the next resistance on the daily chart is 1.5675. Overall, GBP/USD traded with a low of 1.5544 and with a high of 1.5638. Today, Nationwide HPI is expected at -0.2% vs. 0.1% prior. GBP/USD – Last: 1.5603

Japanese (JPY) –The strengthened versus the Dollar as orders for U.S. durable goods unexpectedly fell last month and the Federal Reserve said economic growth slowed in some areas. Retail Sales came out at 3.2% vs. 3.3% forecast. The main resistance of the USD/JPY on the daily chart is 89.20 level ,as long it's trading below this level a short position is preferred, the next support is located at 86.20. Overall, USD/JPY traded with a low of 87.25 and with a high of 88.11. USD/JPY-Last: 87.15

Canadian dollar (CAD) – The Canadian Dollar weakened against the Dollar after a drop in crude prices increased speculation that demand will wane for currencies of nations that are dependent on commodities for growth. As long the USD/CAD is below 1.0450 levels, the momentum is bearish. The next support is located at 1.0240. Overall, USD/CAD traded with a low of 1.0298 and with a high of 1.0390. USD/CAD – Last: 1.0363

Forex Daily News: July 29, 2010 – Majors End Mixed

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Like much of the Italian economy, the Carlo Barbera factory is struggling and for reasons, academics say, that reveal much about what ails Italy.

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July 31 2010

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July 31 2010

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Much of the spending has given a priority to gross domestic product, but government spending alone does little good if it isn’t creating jobs.

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July 31 2010

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is set to overtake Japan as the world’s second-largest economy in a resurgence that is changing everything from the global balance of military and financial power to how cars are designed.

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July 31 2010

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s prime minister Yusuf Raza Gilani on Saturday promised to pursue unspecified diplomatic means in response to British prime minister David Cameron s remarks in India last week in which he accused the country of maintaining close ties with Islamic militants.

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July 31 2010

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has surpassed Japan to become the world’s second largest economy, lagging only behind the United States, a Chinese government official said in remarks published on Friday.

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July 31 2010

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s president Asif Ali Zardari on Saturday was reviewing his visit to the UK due to begin on Tuesday night after Lieutenant General Ahmed Shuja Pasha, director general of the powerful Inter-Services Intelligence cancelled a visit to the UK due to begin on Monday for high level security consultations with British intelligence officials, a Pakistani cabinet minister told the .

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July 31 2010

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Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros , German magazine Wirtschaftswoche reported on Saturday, citing familiar with s plans.

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