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eToro Weekly Market Review, Oct 10, 2010

eToro Weekly Market Review, Oct 10, 2010

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Published by chlsc
eToro Weekly Market Review, Oct 10, 2010
eToro Weekly Market Review, Oct 10, 2010

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Published by: chlsc on Oct 11, 2010
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10/11/2010

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Japanese Consumer Confidence is expected to remain stable
 
UK CPI will be watched closely by the BOE
 
UK Claimant Count will give a gauge of the UK employment situation
 
US Retail Sales will reflect the state of the consumer in the US
Instrument Trend Support II Support I Spot Resistance I Resistance IIEUR/USD
1.2550 1.2950
1.3907
1.4155 1.4605
GBP/USD
1.5318 1.5450
1.5957
1.611 1.6310
EUR/GBP
0.8110 0.8150
0.8715
0.9146 0.9402
USD/CHF
0
.9509
0
.9600
0
.9617
1.0640 1.0990
USD/JPY
80.21 81.53
82.08
87.20 93.10
USD/CAD
.9953 1.0020
1.0124
1.0680 1.0740
EUR/JPY
107.70 109.85
114.16
1.1569 1.1845
Oil
72.20 78.10
82.67
83.30 87.06
Gold
1160 1280
1349
1366 1399
Silver
17.36 19.88
23.13
23.53 24.83
EXCHANGE RATES
The equity markets had one large surge mid-week, and consolidated during the balance of the week, asmarket participants waited for the US unemployment report. The number was worse than expected asgovernment jobs declined by more than double expectations to show a loss for the month of September of 95 thousand jobs. The private employment figure increased by 64 thousand jobs which was in line withexpectations, which allowed market participants some form of sigh of relief. For the week the S&P 500 Indexincreased by 19 to close at 1165.
For more market analysis and news visit 
Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and be willing to acceptthem in order to trade in the foreign exchange market. Don't trade with
 
money you can't afford to lose.
Weekly Market Review
 
October
10
, 2010
 
Visit eToro’s new social trading network:
openbook.etoro.com
 
THIS WEEK’S
EVENTS
 
 
CurrencyTime(GMT)Release Month Consensus Prior
GBPM 23:01 BRC Retail Sales Monitor Sept 1%AUD T 0:30 NAB Australia business confidence Sept 5 5JPY T 5:00 Consumer Confidence Sept 42 43.5GBP T 8:30 UK consumer prices Sept .5%GBP T 8:30 UK Trade Balance Aug -4.7b -4.8bUSD T 18:00 FOMC MinutesCHF W 7:15 Swiss Producer Prices Sept
0
.5%
0
.5%GBP W 8:30 UK Claimant Count Sept 2.3KEMU W 9:00 EMU Industrial Production Aug 0%USD W 12:30 US Import Prices Sept 4.1%AUD T 1:30 Australia Consumer Inflation Expectations Oct 3.1%EUR T 8:00 ECB monthly reportUSD T 12:30 US Jobless Claims Oct 445KUSD T 12:30 US Producer Prices Sept
0
.1%
0
.1%
FINANCIAL CALENDAR
The Euro broke 1.39 continuing the run that began in early September. The move in the EUR/USDis more a function of the dollar weakness then euro strength. The spread between German 2 yearyields and US 2 year yields have widened out to 47 basis points which makes holding dollarsexpensive.
EUR/USD 
Despite effort from the BOJ in the form of intervention and easing of interest rate policy, the Yencontinued to strengthen this week. The USD/JPY broke through the 83-82 level, and continues totest the resolve of the BOJ. Japan will need to find a solution to the strengthening Yen beyondunilateral intervention. The issue is that every government seems to want a weaker currency.A better than expected employment report in Australia, pushed the AUD/USD currency pair to anall time intra-day high. The currency pair is close to par, and with the likelihood of the RBA raisingrates to 4.75 percent in November, the 1-1 relationship will likely move in favor of the AUD.
USD/JPY AUD/USD 
Gold Prices moved to an all time intra-day high of 1366, and closed at 1347 higher on the week.Gold prices continue to show strength and rebounded after the disappointing US employmentreport, as a QE 2 by the FOMC is likely pushing gold prices even higher.
Gold 
For more market analysis and news visit 
Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and be willing to acceptthem in order to trade in the foreign exchange market. Don't trade with
 
money you can't afford to lose.
THIS WEEK’S
VIEW & TRADING IDEAS
Weekly
Market Review
 
October
10
, 2010
 
 
 
CurrencyTime(GMT)Release Month Consensus Prior
JPYF 4:30 Japan Industrial Production Aug
0
.2%EUR F 9:00 EMU CPI Sept
0
.2%EUR F 9:00 EMU Trade Balance Aug 6.7BUSD F 12:30 US CPI Sept 0USD F 12:30 US Retail sales Sept
0
.3%USD F 13:55 US consumer confidence Oct 68.2
For more market analysis and news visit 
Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and be willing to acceptthem in order to trade in the foreign exchange market. Don't trade with
 
money you can't afford to lose.
Weekly Market Review
 
October
10
, 2010
 

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