Daily Review USD 29/12/2009

By IBTimes Staff Reporter | December 29 2009 6:14 AM

The Dollar traded slightly down on a flat session with low volume. Stocks in the U.S. moved away from intra-day highs but main indexes reached fresh 15-month highs. The Dow Jones rose 0.26% and the NASDAQ 0.24%. Gold (XAU) is recovering after finding support at $1,101 an ounce. Crude oil soars by 0.9% and tested levels above $79 a barrel, reaching the highest price in a month, before closing at 78.77$. Today, The CB Consumer Confidence is expected at 53 vs. 49.5 previously.

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EURO (EUR)

The Euro failed once again to keep above the 1.44 zone and weakened against the Dollar after gaining in the beginning of the trading session. European stock markets moved to fresh 14-month highs, with Greek stocks trading firmer after the government passed a budget for 2010. The Euro has to stay above the 1.4420 otherwise the upside momentum will be lost and the pair will fall back to the 1.43 zone. Overall, EUR/USD traded with a low of 1.4349 and a high of 1.4413. Today, the German CPI is expected at 0.6% vs. -0.1% previously.

EUR/USD - Last: 1.4365

Resistance

1.4445

1.4500

1.4575

Support

1.4350

1.4305

1.4275

EURUSD

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