Forex News – 26th October 2011

A lot of excitement ahead of today’s EU Summit. Investors are not convinced of today’s summit’s
outcome and pumped their funds into the yellow metal. Gold.

Since yesterday gold has gained +$66.00 and may have finally cleared the path towards $1,800.
Speech’s today are the main highlights on for today.

Resistance seen at $1.3950, support at $1.3895.


The rate announcement is due today at 09:00 (local time in New Zealand). Although nothing is
expected to change, any hints of loosening the monetary policy will forced NZD lower
against the US Dollar.
The BOC hinted yesterday loosening their policy and as a result USD/CAD gained over 200 pips
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