Ufxmarkets *weekly Forex Currency Trading News*2 - September - 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. The Euro increased against the US Dollar for a third week, which is the longest stretch since March as Bernanke said at an annual forum in Jackson Hole, Wyoming, that joblessness was of increasing concern and that further bond purchases under quantitative easing should not be ruled out. The Fed’s policy makers have implemented two rounds of large-scale asset purchases with a total of $2.3 trillion from December 2008 to June 2011, which have failed to reduce the jobless rate to below 8 percent. The cost for European banks to borrow in dollars declined for the eighth week to the lowest in more than 13 months, according to a money-markets indicator. The Euro was last trading at the rate of 1.2580 against the US Dollar which is an increase of 0.60%. The Australian Dollar reached its lowest point against the US Dollar since July the 25th on concern that a slowdown of growth in China, which is the country’s biggest trading partner, will impede growth. The Australian Dollar was last trading at the rate of 1.0318 against the US Dollar which is an increase of 0.30%. The US Dollar declined against the Japanese Yen as reports indicated that US business activity expanded more slowly this month. A Labor Department report on September the 7th is forecast to show that the US added fewer jobs in August. The Japanese Yen was trading at the level of 78.37 last Friday which is a decrease of 0.30%. Oil capped its biggest monthly gain since October as the Federal Reserve Chairman, Ben Bernanke, said that he wouldn’t rule out additional stimulus measures to boost the economy. Oil was last trading at the level of 96.47 a barrel last Friday which is an increase of 1.96%. Gold increased 2 percent on Friday to a five month high after the Federal Reserve Chairman, Bernanke’s key speech increased hopes for a new round of monetary stimulus for the US economy. Gold was last trading at the level of 1,691.26 an ounce, which is an increase of 2.17%. 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.