VarengoldbankFX Daily FX Report_20121204

7/30/2019 VarengoldbankFX Daily FX Report_20121204

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www.varengoldbankfx.com Promotional Document

Tuesday, December 04, 2012

Good morning from cold Hamburg and welcome to our Daily FX Report. Today, the focus ofmany investors returned to the todays finance minister meeting in Brussels, eagerly awaiting the

latest results regarding further debt crisis fighting measures.

However, we wish you good luck in trading today.

Market Review Fundamental Perspective

In expectation of todays interest rate cuts by the Australian Central Bank, the AUD succeeded

to enforce against most of its currency counterparts. Also the estimated surplus of demand

excerpt the mining industry strengthened the Australian currency. Although the Reserve Bank

lowered the key benchmark to 3 percent, the weakest within the last fifty years and as well the

sixth reduction since October 2011, the yields for government bonds increased. Tomorrow

released economic data will show a business growth of 0.6 percent in the third quarter.

Therefore the AUD rallied 0.2 percent to 104.41 U.S. cents, recovering its 0.5 percent loss of

the previous three trading days. Also the NZD was able to climb 0.2 percent against the USD

and traded at 0.8229.Yesterday, the 17 nations currency continued its gaining streak against its U.S. counterpart and

was 0.1 percent away from a six-week peak, before European finance minister summit in

Brussels starts today. Once again, the Heads of the leading nations are set to discuss further

measures to put an end to the still ongoing European debt crisis, which is now suppressing on

the countrys economies. Furthermore, they will decide on the upsetting of a common bank

supervisor as first step in the realization of its crisis-fighting plan. Recently, the EUR benefited

from the Greek offer to buy back bonds for as much as 10 billion EUR. In addition, Spain

announced the expectation to achieve 37 billion EUR for the refinancing of four Spanish banksnext week. Moreover, the yields of Spanish bonds with a maturity of 10 years declined to 5.2

percent, the weakest since the 20th of March. The next bond selling auction is planned for

tomorrow and will offer bonds maturing in 2015, 2019 and 2022. As a result, the EUR

strengthened to 1.3060 versus the USD from 1.3054 the day before. But it tumbled 0.1 percent

towards the JPY and traded at 107.24, while also the USD established a 0.2 percent decline to

82.12 against the JPY.


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Daily Technical Analysis (In this section we provide chart analysis)

Our Focus Currencies for Today

EUR/GBP (4 Hours)

Since the 8th of November, the EUR/GBP has been trading in a steady bullish trend movement

above a Fibonacci fan, after having gained momentum at the support level around 0.7974.

Recently, further increases were stopped by the resistance level around 0.8129. So far, all tests

of this level failed and the rate returned to the close support level around 0.8060. But still both

indicators are not set to provide us with bullish signals, why we might see the rate entering a

sideways movement between these two levels.

Intraday Support & Resistance (4 Hours)

Support Levels around Resistance Levels around

0.8106 0.8129

0.8060 N/A

0.7974 N/A


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GBP/USD (4 Hours)

At the support level around 1.5838, the bulls have been taken control of the GBP/USD currency

pair and forced the rate up inside a bullish Andrews pitchfork. Currently, the rate is set to cross

the resistance level around 1.6103, after the first attempt failed. But Stochastic and the slightly

decreasing OsMA, which is still high-leveled, are indicating first signs for losses. Therefore a fall

down to the support level around 1.6040 or the lower pitchfork line are more than likely if the rate

does not succeed to overcome the next hurdle.

Intraday Support & Resistance (4 Hours)


1.6040 1.6103

1.5993 N/A

1.5839 N/A


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XAU/USD (Daily)

Gold has shown a rapidly increase to a six-month high on the mid-August, before the resistance

level around 1777.97 proved to be too strong and forced the rate into a downward movement to

its bullish trend line as well as the support level around 1673.28. At this level, gold experienced

demand and was pushed up to the hurdle around 1753.34, before weakening again. Currently,

the XAU/USD is approaching its trend line again, while MACD and DeMarker are indicating

further drops if the trend line is not strong enough to keep the rate up.

Intraday Support & Resistance (Daily)


1699.81 1753.34

1673.28 1777.97

1595.11 N/A


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Daily Calendar & Key FX Events

Date Time (GMT) Economic Indicator Last

04.12.2012 08:30 UK OMI Construction 50.9

20.11.2012 09:00 EC Euro-Zone PPI (MoM) 0.2%

20.11.2012 09:00 EC Euro-Zone PPI (YoY) 2.7%

20.11.2012 12:55 US Red Book (MoM) 0.80%

20.11.2012 13:00 CA Bank of Canada Rate 1.00%

20.11.2012 13:45 US ISM New York 45.9

If you have any questions, please contact us for further assistance. 24 hours a day:

German: +49. 40. 66 86 49 0

English: +49. 40. 66 86 49 0

French: +49. 40. 66 86 49 0

Russian: +49. 40. 66 86 49 0

Arabic: +971.4.354.5885

Chinese: +49. 40. 66 86 49 55

Turkish: +49. 40. 66 86 49 0

24 h Trading Support: +49. 40. 66 86 49 32


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DISCLAIMER

IMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THISPROMOTIONAL DOCUMENT

This document Daily FX Report is a promotional document and is created and published by VarengoldWertpapierhandelsbank AG. This Promotional document serves exclusively for information purposes.It isexclusively aimed at German business partners and customers who make their own investment decisionsat their own risk notwithstanding the contents of this promotional document. Investment decisions shouldbe made on the basis of a preceding consultation with an independent financial advisor and prospectus,but not on the basis of this promotional document.Depending on the individual investor's investment goals, investment horizon or financial situation, thecontents of the present promotional document may not be suitable at all or only in part. This promotional

document is not aimed at persons with residence and / or place of business and / or branches abroad,particularly in the United States of America, Canada, Japan or Great Britain. This promotional document isfor information only and especially does not constitute a public offer, an advice, recommendation or aninvitation to submit an offer for purchase or selling of or subscription to securities or other financialinstruments. This Promotional document does not constitute investment advice or investmentrecommendation.This promotional document does not constitute a financial analysis. Therefore it does not fulfill the legalrequirements ensuring the impartiality of financial analyses. This promotional document is not subject tothe prohibition of trades before the publication of financial analyses. With this promotional document noindividual investment advisory and / or information relationship with Varengold Wertpapierhandelsbank AGis established.All declarations, statements or assessments included in this promotional document are those of thisdocument's author; they do not imperatively correspond to third party statements. Varengold

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Publisher:

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VarengoldbankFX Daily FX Report_20121204