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Video We Are Traders - A Tribute to All Those Trading the Markets (Demo trading option copenhagen)

Hello, it's Thursday, May 3 2012 and I'm Tony Christopher with the daily outlook from UFX
Markets.
We start with the US stock market – The S&P 500 and Dow Jones declined slightly after
an ADP of Non-Farm Employment change showed employers added only 119K jobs in April, a
7 month Low.
The US Dollar gained versus most of the majors after weaker than expected economic data in
Europe and the U.S led investors toward the safe haven of the Dollar.
Today, Unemployment Claims are expected with 381K versus 388K prior.
Commodities now, Gold weakened by 0.50%, closing at 1652$ and Crude oil declined by 1% closing
at 104.55$ after concerns about the European debt crisis and a rise in Crude Inventories
in the U.S shows slower economic activity.
Turning to the the Euro/dollar - The Unemployment Rate in Europe climbed to a record high of
10.9% raising concerns of the Debt Crisis worsening. German Unemployment Change showed
19,000 more workers are looking for a job, compared

to an expectation of 9,000 fewer
job seekers. The pair seems to be forming a downward triangle and is considered bearish.
Today, ECB will release its interest rate decision which is expected unchanged at 1%.
British Pound now, the pair has broken below the support level of 1.62 and could head lower
below the exponential moving average 50 on the 4 hours chart. Negative divergence according
to RSI Indicator points that a shift in trend could occur. Today, Services PMI is expected
with 54.4 versus 55.3 prior.
The New Zealand Dollar broke below the bottom of its trading channel following weak employment
data and aversion from high yielding assets. The NZD/USD channel support was located at
0.8075 and if the pair remains below that level it’s expected to start trending downwards.
Well, that’s it for today, I'm Tony Christopher for the daily outlook. Be sure to find out
more at UFX Markets.com.

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