Forex Trading and Futures – USD Gains vs EUR but Slips vs JPY – Silver and Gold Prices Lower

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(Best Syndication News) The U.S. dollar continued to gain against the euro throughout the day Sunday/Monday after gold and silver prices slumped on Friday (see forex and futures charts below). Crude oil prices in the United States were lower as European concerns trumped fears that Iran would shut-off the supply of Persian Gulf oil. London Brent crude was only slightly higher.

World Economic News

Although the U.S. housing sector continues to lag, the employment picture appears to be improving. The U.S. Department of Labor reported that the unemployment rate declined to 8.5 percent in December.

Banks in Japan are closed Monday to celebrate the Coming of Age holiday.

Lower interest rates in Australian had an “immediate impact” on new home construction, according to the Housing Industry Association (HIA) and the Economics Group. The HIA said that total seasonally adjusted new homes sales increased by 6.8 percent in November 2011.

The Australian Bureau of Statistics said that retail turnover was nearly unchanged in November. Economists had expected an increase of 0.4 percent.

The State Secretariat for Economic Affairs (SECO) said the unemployment rate in Switzerland increased to 3.3 percent in December. In November, the rate was 3.1 percent.

Retail sales in Switzerland grew 1.8 percent in November. In October retail sales increased just 0.1 percent, according to the Swiss Federal Statistical Office.

Precious Metals

Gold and silver prices were lower Friday after an advance through the week (see the survey #2 settle price below). February gold on the COMEX fell $3.30 (-0.20%) to $1,616.80 a troy ounce.

March silver slipped 51 cents (-2.09%) to $28.68 per ounce. The ratio between the two precious metals expanded to 56.4.

Platinum and palladium fell 0.71 percent and 4.72 percent respectively.

Gold, silver and platinum were lower on the Tokyo Commodity Exchange (TOCOM). Gold fell 16 yen (-0.40%) to ¥4,013 per gram. See the TOCOM chart below for our exclusive dollar conversions.

Energy Prices

Light sweet crude oil (WTI) on the New York Mercantile Exchange (NYMEX) declined while Brent crude oil on the Intercontinental Exchange (ICE) advanced.

West Texas Intermediate (WTI) for February delivery fell 25 cents (-0.25%) to $101.56 a barrel. Brent crude oil gained 32 cents (+0.28%) to $113.06. The difference between the two benchmarks expanded to $11.50.

Natural gas and heating oil were both higher.

Currency Exchange Rates

The British pound sterling (GBP) slipped against all major currencies with the exception of the Canadian dollar (CAD). The Japanese yen (JPY) and the Swiss franc (CHF) both gained broadly (see the cross tables below).

The U.S. dollar gained 0.17 percent vs the euro (EUR) and 0.08 percent vs the Australian dollar (AUD). See the average dollar rate chart below for more details.

The trend continued throughout the day (see the intraday chart below). The USD/JPY hit 76.84, the EUR/USD hit 1.2701, the GBP/USD hit 1.5421, the CAD/USD hit 1.0283, the USD/HKD hit 7.7652, and the AUD/USD hit 1.0209.

By: John Waters
Business Reporter

TOCOM Chart with our exclusive dollar conversions:

1/8/2012 Tokyo Commodities Exchange One-Day One-Day Five-Day 30-Day 100-Day
Yen * Commodity Dollars ¥ Change % Change % Change % Change % Change
4,013 Gold (standard) $1,620.62 -16 -0.40% 3.96% -3.70% -7.87%
70.5 Silver $28.47 0 -0.56% 3.98% -7.72% -27.39%
3,501 Platinum (standard) $1,413.85 -35 -0.99% 1.60% -9.44% -21.84%
1,521 Palladium $614.25 -82 -5.12% -4.94% 4.25% -18.23%
64,930 Gasoline $3.19 -850 -1.29% 3.16% 7.32% 7.73%
52,150 Crude oil $107.66 -550 -1.04% 3.76% 4.32% 3.78%
267.8 Rubber $1.58 2 0.79% 0.04% 1.44% -26.61%
56.92 Ratio Gold/Silver 0 0.17% -0.02% 4.36% 26.89%
* ¥ / gram kiloliter and kilogram PST - conversions to $ / ounce barrel or gallon

Survey #2 Settle Price Chart:

Friday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
1/6/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
113.06 Brent crude (not settled) 0.32 0.28% 5.11% 3.70% 4.66%
68.75 Coal 0.00 0.00% -1.32% 1.36% -11.95%
3.44 Copper HG 0.01 0.25% 1.93% 3.14% -14.81%
101.56 Crude oil (WTI) -0.25 -0.25% 1.92% 3.62% 15.57%
2.22 Ethanol ZE CBOT 0.04 1.74% 0.95% -13.03% -20.47%
1616.80 Gold GC -3.30 -0.20% 4.93% -5.03% -8.03%
3.07 Heating Oil (HO) 0.03 1.03% 5.14% 1.17% 4.28%
3.06 Natural gas NG HH 0.08 2.75% 1.16% -10.34% -23.91%
613.45 Palladium PA -30.40 -4.72% -1.56% 2.06% -17.81%
1404.50 Platinum PL -10.00 -0.71% 3.01% -10.57% -21.85%
2.75 RB RBOB Gasoline 0.02 0.55% 3.08% 7.41% -4.28%
28.68 Silver SI -0.61 -2.09% 5.01% -12.95% -27.03%
733.00 Steel Hot-Roll Coil 3.00 0.41% 1.10% 16.35% 10.23%
52.25 UxC Uranium U3O8 0.00 0.00% 0.00% -2.34% 4.19%
1/6/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
339.0 Average All -2.93 -0.86% 2.67% -2.74% -11.22%
619.9 Metals Average -7.38 -1.18% 3.01% -6.17% -15.38%
42.1 Energy Average 0.03 0.08% 2.36% 2.81% 2.74%
56.4 Ratio Gold/Silver Prices 1.07 1.93% -0.08% 9.10% 26.03%
-212.3 Difference Plat-Gold -6.70 3.26% 19.61% 60.96% -641.58%
1.15 Ratio Plat/Gold 0.01 0.51% 1.86% 6.20% 17.68%
1.1 Ratio Brent / WTI Prices 0.01 0.53% 3.14% 0.07% -9.44%
$11.50 Difference Brent - CL 0.57 5.22% 45.39% 4.36% -42.93%

Average Dollar Rate Chart:


Sunday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
1/8/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9800 Average Against Aussie 0.08% -0.52% -4.80% 2.54%
0.7846 Average Against Euro € 0.17% 1.59% 4.99% 12.87%
76.8962 Average Against Yen ¥ -0.56% -0.94% -0.53% 0.17%
0.6481 Average Against Pound £ 0.33% -0.13% 0.84% 6.44%
0.9536 Average Against Franc -0.08% 1.35% 3.73% 20.10%
1.0295 Average Against Canadian 0.86% 0.87% -1.35% 4.73%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0204 Average Against Aussie -0.08% 0.52% 5.04% -2.47%
1.2746 Average Against Euro -0.17% -1.56% -4.76% -11.40%
0.0130 Average Against Yen 0.56% 0.94% 0.53% -0.17%
1.5430 Average Against Pound -0.33% 0.13% -0.83% -6.05%
1.0487 Average Against Franc 0.08% -1.33% -3.60% -16.74%
0.9714 Average Against Canadian -0.86% -0.87% 1.37% -4.52%

Intraday Chart:

Green = $ UP Intra-Day Trend Green = $ UP
Red = $ Down 1/8/2012 Survey 5A Survey 5B Survey 5C Red = $ Down
From Previous Time PT 2:00PM 6:00PM 9:30PM Intra-Day Average
-0.23% USD/JPY 77.02 76.84 76.84 -0.23% 76.900
-0.46% EUR/USD 1.2723 1.2701 1.2701 -0.17% 1.271
-0.45% GBP/USD 1.5425 1.5421 1.5421 -0.03% 1.542
0.63% CAD/USD 1.0266 1.0283 1.0283 0.17% 1.028
-0.01% USD/HKD 7.7657 7.7652 7.7652 -0.01% 7.765
0.10% AUD/USD 1.0236 1.0209 1.0209 -0.26% 1.022
0.02% USD/CNY 6.3088 6.3088 6.3088 0.00% 6.309

Cross Tables:

Survey 1 January 8 2012 6:00 PM
1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD $ 0.1288 1.0206 0.9723 1.0486 1.5427 0.013 1.2746 -
EUR € 0.101 0.8007 0.7628 0.8226 1.2103 0.0102 - 0.7845
JPY ¥ 9.9017 78.4744 74.762 80.6242 118.622 - 98.0069 76.8905
GBP £ 0.0835 0.6616 0.6303 0.6797 - 0.0084 0.8262 0.6482
CHF franc 0.1228 0.9733 0.9273 - 1.471384 0.0124 1.2156 0.9537
CAD 0.1324 1.0497 - 1.0784 1.5867 0.0134 1.3109 1.0285
AUD 0.1262 - 0.9527 1.0274 1.5116 0.0127 1.2489 0.9798
HKD 7.9253 7.5504 8.1424 11.9799 0.101 9.898 7.7654

One-Day Change:

Pos Means Top Currency Gained One Day Change January 8 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.000% -0.010% -0.725% 0.076% -0.336% 0.775% -0.157%
EUR € 0.099% 0.150% -0.574% 0.219% -0.181% 0.990% 0.140%
JPY ¥ -0.435% -0.452% -1.167% -0.376% -0.777% -0.597% -0.446%
GBP £ 0.361% 0.334% -0.379% 0.414% 0.000% 0.182% 0.341%
CHF -0.081% -0.082% -0.792% -0.399% 0.000% -0.222% -0.073%
CAD 0.684% 0.729% 0.804% 0.399% 1.515% 0.575% 0.735%
AUD $ 0.000% -0.719% 0.078% -0.323% 0.000% -0.144% 0.000%
HKD -0.016% -0.735% 0.059% -0.343% 0.398% -0.161% -0.010%

30-Day Change:

Pos Means Top Currency Gained 30- Day Change January 8 2012 6:00 PM
Survey 1 1 HKD 1 AUD 1 CAD 1 CHF 1 GBP 1 JPY 1 EUR 1 USD
USD 0.39% 3.53% 1.06% -4.27% -1.44% 0.00% -5.82%
EUR 6.54% 9.93% 7.30% 1.63% 4.64% 6.25% 6.17%
JPY 0.29% 3.49% 1.02% -4.31% -1.48% -5.86% -0.04%
GBP 1.83% 5.05% 2.54% -2.87% 1.20% -4.44% 1.46%
CHF 4.78% 8.16% 5.57% 2.96% 4.20% -1.62% 4.46%
CAD -0.75% 2.45% -5.28% -2.47% -0.74% -6.80% -1.05%
AUD -3.07% -2.39% -7.54% -4.81% -3.79% -9.03% -3.41%
HKD 3.19% 0.72% -4.59% -1.77% -0.30% -6.13% -0.33%

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