UFXMarkets *Weekly Forex Currency Trading News* 12-February-2012


Hi, I’m Martin Smith and this is your UFX
Markets Week in Review. Today, we will cover some of the major events of the past week
and discuss how they impact the global currency markets.
In the USA the trade deficit expanded in December to a six month high as the improving economy
led to larger gains in imports than exports. The gap increased 3.7 percent to $48.8 billion
from $47.1 billion in November, reported by the Commerce Department in Washington last
week. Retail sales were speculated to rise in January by the most in four months, marked
by the biggest increase in auto purchases since 2009, economists stated before a report
this week. The Euro fell last Friday as Greece’s far-right
party leader declined to back an agreement on the bailout, heightening concern that Greece
would default on its debt. However the Greek Prime Minister, Lucas Papademos, managed to
secure approval from his Cabinet to submit laws for the increased budget cuts needed
to secure a bailout. The Euro was last trading at the level of
1.3196, which is a decrease of -0.66%. The British Pound declined against the US
Dollar on Friday as the setback in Greece’s attempts to secure a bailout led to investors
preferring the safety of the Greenback. The Pound was last trading at the level of
1.5753, which is a decrease of -0.39%. The Canadian Dollar declined against the US
Dollar as uncertainty surrounding the second bailout for Greece decreased investor appetite
for riskier assets. The Canadian dollar weakened the most in a month even after Canada reported
its widest trade surplus since 2008. The Canadian Dollar was last trading at the
level of 1.0013, which is an increase of 0.66%. In Commodities, Gold was trading unchanged
on Friday as investors remained cautious and Finance ministers in the Euro Zone held off
on approving a bailout package for Greece. Gold was last seen trading at 1,720.05 an
ounce, which is a decrease of -0.53%. Oil declined from a three week high, amid
increasing concern that the European debt crisis will worsen, affecting global demand
for Crude Oil. Oil was last seen trading at 98.67 a barrel,
which is a decrease of -1.17%. Well, that is all the time we have for today.
I hope you’ve enjoyed this week’s review and you’ll join us next week. Until then,
be sure to visit us at UFXMarkets.com for all of your online trading needs. For UFXMarkets,
I’m Martin Smith. Good luck and happy trading.

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