Forex Flash: EUR/USD should hold at 1.3327 intraday – TD Securities

The EUR drag pulled the rest of the European currencies lower in sympathy as "broad weakness in GDP readings across the Eurozone (the lowest figures since 2009) confirmed even deeper recessionary conditions than expected and provoked a sharp selloff in the EUR". TD Securities analysts observe price action denting further the well entrenched bull trend in place since November. "For EUR/USD, the 40-day moving average (at 1.3327)—which has been provided key support in recent months—is currently being tested", wrote analysts Shaun Osborne and Greg Moore, expecting that area to hold intraday, but a break lower would look to support at the bottom of the bull channel near 1.3255/65.

Feb 14, 2013

Commodities Brief – gold prices rally on waning equities

Gold prices made several attempts at the 1650 level earlier today during European trading as weak GDP data across the continent breathed repeated life into the yellow metal. However, these gains were also met with volatility, as the pair touched the 1641 level twice before bouncing back in these moments to trade positively at USD $1646.41, up +$2.21 at the US open. Presently, gold operates above the 20 and 50-day SMA, though the prices seem to have stabilized and found ground at the 1641 region (session low). Conversely, Silver prices have also moved higher, trading in the region of USD $30.98, though the prices here have stalled. With US equities stumbling at the open, gold prices seem primed to recoup some of their earlier losses on the week.

Forex: GBP/USD goes under 1.5500

The GBP/USD had already breached below the 1.5500 handle during the London morning, to 1.5492 low, but the psychological level pulled the market back up for the rest of the period. Now, as the US leads the FX market, the pair went under again, and is extending losses (to 1.5483, as of writing).