Futures&FX Trading Expert

MARKET UPDATE

1) Market Daily Report* 6 FEB 2012 (MON)

The U.S. unemployment dropped to 8.3 percent in January, the lowest record since February 2009 while 243,000 jobs were added last month that exceeded the most optimistic forecast.

European retail sales unexpectedly declined 0.4 percent in December, led by Germany and France in rising unemployment and shrinking consumer spending.

A U.K. services index unexpectedly rose in January to 56 from prior month 54 as new orders increased and business confidence improved.

Currencies & U.S. Indices	New York Closings
EURUSD	1.3158
GBPUSD	1.5815
USDJPY	76.60
USDCHF	0.9182
0JIA	12862 +156
Nasdaq	2905 +45
S&P 500	1344 +19

* This section is updated DAILY

~ Sources: Bloomberg, Reuters & Thomson Financial

2) Weekly Commodity Forecast (from 6 FEB 2012)

Crude oil prices rose from 6-week low after U.S. showed more added 243,000 jobs in January and also based on improved manufacturing demands in U.S., China and Euro area. Gold prices remained bullish in small pace during early last week but slid on Friday after reacting to lower U.S. unemployment in January at 8.3 percent.

WTI Crude prices traded in the main range from 96.00 to 102.00 regions as we predicted last week. The market is temporary seen supported at 94.00 - 94.50 levels in coming week while the trend may stage small rebound soon. A better economic recovery and manufacturing demands may uplift crude prices in coming weeks unless bad news from Euro debt crisis becomes viral. We reckon the resistance will resurface at 100.00 benchmarks while the range movements may be constricted at first support as aforementioned.

Gold prices reached 1763.10 last week and slid on Friday to 1725.00 regions. From technical outlook, we believe the market trend has begun to decline and will be capped at 1745.00 resistances in coming week. Moving forward, we expect to see the market consolidate and sink to 1680.00 regions. Beware of new bullish trend once the market tracks above 1750.00 levels again!

Silver prices fell from recent high 34.39 and closed with reversal down patterns on Friday. We foresee the trend will probably test the 2 support levels at S1 – 33.00 and S2- 31.60 in coming week. Silver prices will track the Gold prices that will likely be softened after running up for weeks. However, abandon your short-view if Silver prices violate above 35.00 levels.

Crude Palm Oil (CPO) Futures on Bursa Derivatives closed lower on weekly bar again after Chinese New Year amid weakening demands. Fundamentally speaking, the trend has been affected by lower exports data and competition from Indonesia. The most active month in April contract closed at 3085 on Friday after resisted by the previous 3150 levels. This week, we expect continual downtrend to follow and remain our target at 2970 regions. Only breaking above 3110 levels needs to be cautious in case of imminent short-termed technical rebound.

** This section is updated WEEKLY

You may access more powerful forecast for other markets by visiting www.pwforex.com/forum

3) Weekly Economic Calendar

You may refer to the website link below for weekly economic calendar:

Website http://www.forexfactory.com/calendar.php

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