EURUSD
(Bloomberg) The euro fell, snapping a five-day gain, after pro-independence parties in Catalonia won a regional vote, strengthening a drive for a referendum on secession in defiance of Spanish Prime Minister Mariano Rajoy. The 17-nation euro declined against most of its 16 major peers amid concern Spain may postpone asking for a bailout amid political uncertainty. Finance ministers from the bloc will reconvene in Brussels today to decide on aid for Greece. The yen rebounded from a seven-month low as a technical indicator signaled the currency may be oversold. Gains in the yen were limited after the minutes of last month's Bank of Japan (8301) policy meeting showed members called for monetary easing. Spain will continue to delay asking for financial assistance, said Masafumi Yamamoto, the Tokyo-based chief foreign-exchange strategist at Barclays Plc. The election result is not positive for the euro. The market may shift its focus to Spain and the poor economic fundamentals in Europe once we confirm aid for Greece. The euro fell 0.1 percent to $1.2961 as of 1:59 p.m. in Tokyo from Nov. 23, when it capped a 1.8 percent five-day advance. The shared currency earlier touched 107.14 yen, the highest level since April 27, before trading at 106.69, 0.2 percent below the close in New York on Nov. 23. The Japanese currency added 0.1 percent to 82.33 per dollar from the end of last week. It reached 82.84 Nov. 22, the weakest since April 4.
(Bloomberg) The euro fell, snapping a five-day gain, after pro-independence parties in Catalonia won a regional vote, strengthening a drive for a referendum on secession in defiance of Spanish Prime Minister Mariano Rajoy. The 17-nation euro declined against most of its 16 major peers amid concern Spain may postpone asking for a bailout amid political uncertainty. Finance ministers from the bloc will reconvene in Brussels today to decide on aid for Greece. The yen rebounded from a seven-month low as a technical indicator signaled the currency may be oversold. Gains in the yen were limited after the minutes of last month's Bank of Japan (8301) policy meeting showed members called for monetary easing. Spain will continue to delay asking for financial assistance, said Masafumi Yamamoto, the Tokyo-based chief foreign-exchange strategist at Barclays Plc. The election result is not positive for the euro. The market may shift its focus to Spain and the poor economic fundamentals in Europe once we confirm aid for Greece. The euro fell 0.1 percent to $1.2961 as of 1:59 p.m. in Tokyo from Nov. 23, when it capped a 1.8 percent five-day advance. The shared currency earlier touched 107.14 yen, the highest level since April 27, before trading at 106.69, 0.2 percent below the close in New York on Nov. 23. The Japanese currency added 0.1 percent to 82.33 per dollar from the end of last week. It reached 82.84 Nov. 22, the weakest since April 4.
Support
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Resistance
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EURUSD
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1.28948
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1.30172
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1.28200
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1.30648
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1.26976
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1.31872
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GBPUSD
(Bloomberg) The pound strengthened against the dollar, set for its first weekly advance in a month, after a British Bankers Association report showed mortgage approvals rose to a nine-month high in October. The U.K. currency fell to its weakest level in four weeks against the euro before European finance ministers meet on Nov. 26 to find a way to plug Greece's budget shortfall. Gilts were little changed, with 10-year yields set for their first weekly increase since Oct. 19. A report next week will show U.K. gross domestic product grew 1 percent in the third quarter, confirming an earlier reading, according to the median estimate of 24 economists surveyed by Bloomberg News. A lot of the pound strength is it tracking the euro against the dollar, as if you look at pound-euro, sterling is going to finish lower on the week, said Lee McDarby, head of dealing on the corporate and institutional treasury desk at Investec Bank Plc in London. The main figure driving the pound recently has been GDP. Revisions are due on Tuesday so if we see an upwards revision then the pound may extend this week's advance. The pound advanced 0.6 percent to $1.6030 at 4:13 p.m. London time, after touching $1.6035, the most since Nov. 7. The U.K. currency is set for a 0.9 percent weekly gain. Sterling was little changed at 80.87 pence per euro after touching 81.09 pence, the weakest since Oct. 24.
(Bloomberg) The pound strengthened against the dollar, set for its first weekly advance in a month, after a British Bankers Association report showed mortgage approvals rose to a nine-month high in October. The U.K. currency fell to its weakest level in four weeks against the euro before European finance ministers meet on Nov. 26 to find a way to plug Greece's budget shortfall. Gilts were little changed, with 10-year yields set for their first weekly increase since Oct. 19. A report next week will show U.K. gross domestic product grew 1 percent in the third quarter, confirming an earlier reading, according to the median estimate of 24 economists surveyed by Bloomberg News. A lot of the pound strength is it tracking the euro against the dollar, as if you look at pound-euro, sterling is going to finish lower on the week, said Lee McDarby, head of dealing on the corporate and institutional treasury desk at Investec Bank Plc in London. The main figure driving the pound recently has been GDP. Revisions are due on Tuesday so if we see an upwards revision then the pound may extend this week's advance. The pound advanced 0.6 percent to $1.6030 at 4:13 p.m. London time, after touching $1.6035, the most since Nov. 7. The U.K. currency is set for a 0.9 percent weekly gain. Sterling was little changed at 80.87 pence per euro after touching 81.09 pence, the weakest since Oct. 24.
Support
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Resistance
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GBPUSD
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1.59540
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1.60783
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1.58776
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1.61262
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1.57533
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1.62505
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GOLD
(Reuters) - Gold turned lower on Monday as speculators booked profits after the price rallied to its highest in more than a month in the previous session on technical buying, shrugging off the influence of a firmer euro. * Gold fell $1.85 an ounce to $1,750.54 by 0017 GMT after rising to $1,754.10 on Friday, its strongest since Oct. 12 due to a drop in the dollar and options-related buying. Bullion has gained around 11 percent this year, mainly due to expectations U.S. monetary policy will remain loose. * U.S. gold for December was flat at $1,750.90 an ounce. * All solutions to help Greece remain financially afloat will have to be applied, including buying back some of its debt, France said ahead of a meeting of euro zone finance ministers on Monday.
Support
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Resistance
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GOLD
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1735.10
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1761.60
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1718.30
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1771.30
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1691.50
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1797.20
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SILVER
(Bloomberg) Silver futures for March delivery gained 2.3 percent to $34.206 an ounce. Earlier, the price reached $34.25, the highest since Oct. 11. Platinum futures for January delivery advanced 2.1 percent to $1,617.10 an ounce on the New York Mercantile Exchange, while palladium futures for December delivery increased 2.5 percent to $667.60 an ounce.
Support
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Resistance
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SILVER
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33.52
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34.43
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32.92
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34.74
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32.31
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35.65
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+CLF13
(Bloomberg) Oil fell for the first time in three days as tension eased in the Middle East, reducing concern that unrest in the region will spread and disrupt crude supplies. Futures slid as much as 0.5 percent in New York after capping the biggest weekly gain since October on Nov. 23. Israel relaxed restrictions on Palestinians in the Gaza Strip after last week's cease-fire with Hamas survived claims of breaches by both sides. Egyptian President Mohamed Mursi will meet the nation's judicial council today, the state-run Middle East News Agency reported, citing presidential spokesman Yasser Ali. Opposition has mounted since Mursi issued a Nov. 22 decree that prevents his actions from being challenged by the courts. The meeting may signal that the Egyptian president is trying to cool off the violence that has emerged, said Victor Shum, the managing director of IHS Consulting in Singapore. Oil has come down a bit but only slightly. I look at this slight edging down as profit taking. West Texas Intermediate crude for January delivery dropped as much as 47 cents to $87.81 a barrel in electronic trading on the New York Mercantile Exchange and was at $88.12 at 2:18 p.m. Singapore time. Futures advanced 90 cents to $88.28 a barrel on Nov. 23, the highest settlement since Nov. 19. Prices rose 1.9 percent last week and are down 11 percent this year.
Support
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Resistance
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+CLF13
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87.17
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88.94
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86.07
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89.61
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84.30
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91.38
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@ESZ12
(Bloomberg) The S&P 500 advanced 3.6 percent to 1,409.15 for the week, extending its 2012 gain to 12 percent. The Dow Jones Industrial Average rallied 421.37 points, or 3.4 percent, to 13,009.68. Both gauges had the best week since June 8. What you're seeing out of Washington before the break is a very cooperative tone, Bill Greiner, who oversees $14 billion as chief investment officer at Mariner Wealth Advisors in Kansas City, Missouri, said in a phone interview. There is a gathering sense that the deceleration in economic growth in China seems to be bottoming right now. Both of those areas are adding to a little bit strength in the market. The S&P 500 began the week with the biggest advance in two months after Obama met with senior Democrats and Republicans on Nov. 16 for talks to avoid a so-called fiscal cliff of $607 billion in automatic tax increases and spending cuts next year. The index continued to climb after Israel and the Palestinian militant group Hamas agreed to call a halt to more than a week of air strikes and missile attacks. Data showed the first expansion in China's manufacturing industry in 13 months and an unexpected gain in German business confidence.
Support
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Resistance
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@ESZ12
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1392.25
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1412.25
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1379.50
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1419.75
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1359.25
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1440.25
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