www.varengoldbankfx.

com – Intelligent Investments

Tuesday, August 03, 2010

Good morning from wonderful Hamburg and welcome to our Daily FX Report. Surprisingly the
economy of Great Britain is recovering faster than economists had predicted which leads to a
comeback of their currency. Furthermore the risky currencies strengthened and may have room
to fly.

Market Review – Fundamental Perspective

Based on signals that the global recovery is slowing down the investors put their focus in riskier
assets. Especially the economic recovery in the United States is losing upward momentum. The
growth in U.S. household spending decelerates 0.1 percent in June after it rose 0.2 percent in
May. Due to that the EUR was close to a 12-week high versus the USD and traded at 1.3178.
Japan’s currency was trading at 114.10 against the EUR, which is near a two month low.

The Australian Dollar was close to a three-month high against the USD and traded at 91.36.
Today, in Australia reports will probably show that retail sales rose for a fourth month and home-
building approvals rose as well. The retail sales already rose 0.4 percent in the past month, after
climbing 0.2 percent in May. This report will additionally show that Australia’s economy is still
growing. The Reserve Bank of Australia will probably keep the benchmark interest rate at 4.5
percent today as economists had predicted. New Zealand’s currency was trading close to a one-
week high versus the USD. The NZD/USD traded at 79.33 and the NZD/JPY went up to 63.46.
The MSCI Asia Pacific Index increased 0.8 percent for a second day.

The economy of the U.K. is recovering quicker than it has been prognosticated. Their economic
growth was almost twice as much high as economists forecasted in the past quarter. As a result
of that the British currency increased near to a six month high versus the USD. The GBP also
climbed to a monthly high against the EUR as a report showed that manufacturing expanded for
a 10th straight month in July. Britain’s currency gained 1.3 percent versus the USD to 1.5897 and
the EUR/GBP fell 0.4 percent to 82.87.

Canada’s currency gained 0.9 percent against the USD and traded at 1.0242. Today, the
markets are closed in Canada for a holiday.
www.varengoldbankfx.com – Intelligent Investments

Daily Technical Analysis (In this section we provide chart analysis)

Our Focus Currencies for Today

AUD/CAD (1 Hour)

After getting support from the horizontal level around 0.9204, the AUD/CAD entered back the
bullish trend channel. Last week the pair rebounded at its resistance level around 0.9348 and it
remains to be seen it the pair can break through this level and continue its bullish trend inside
the channel.

Intraday Support & Resistance (1 Hour)

Support Levels around Resistance Levels around

0.9250 0.9348

0.9204 N/A

0.9150 N/A
www.varengoldbankfx.com – Intelligent Investments

NZD/JPY (4 Hour)

With the beginning of July the NZD/JPY is trading in a bullish trend. In the past week the pair fell
out of the fan and reached its support level around 62.10. The Stochastic indicator may support
the upper trend and we might see further gains if the pair may enter the fan again and cross its
resistance level around 64.00.

Intraday Support & Resistance (4 Hour)

Support Levels around Resistance Levels around

62.10 64.00

60.91 64.60

59.61 N/A
www.varengoldbankfx.com – Intelligent Investments

AUD/USD (1 Hour)

As you can see the AUD/USD has been trading inside a bullish trend channel in the past week.
After the pair rebounded at the resistance level around 0.9139, the bears take control of it and
pull it down towards the lower line of the channel. We might see further losses if the pair fall out
of the channel and also break through its support level around 0.9063.

Intraday Support & Resistance (1 Hour)

Support Levels around Resistance Levels around

0.9063 0.9139

0.9004 N/A

0.8904 N/A
www.varengoldbankfx.com – Intelligent Investments

EUR/HUF (4 Hour)

The EUR/HUF has been moving along a horizontal channel in a bullish Fibonacci fan. Recently
the pair rebounded at its resistance level around 286.62 and crossed the lower line of the fan.
The RSI indicator may support an oversold market so we might stay bullish if the pair does not
cross its support level around 276.44.

Intraday Support & Resistance (4 Hour)

Support Levels around Resistance Levels around

275.31 286.62

271.41 291.82

262.59 N/A
www.varengoldbankfx.com – Intelligent Investments

USD/CZK (4 Hour)

Since the beginning of the past month the USD/CZK is moving inside a bearish trend channel. If
the pair does not succeed to break out of the channel and to accomplish a trend reversal we
may stay bearish.

Intraday Support & Resistance (4 Hour)

Support Levels around Resistance Levels around

18.377 19.240

N/A 20.511

N/A 21.060
www.varengoldbankfx.com – Intelligent Investments

Daily Calendar & Key FX Events

Date Time (GMT) Economic Indicator Last

03.08.2010 12:00 BZ Industrial Production YoY 14.8%

03.08.2010 12:00 BZ Industrial Production MoM 0.0%

03.08.2010 12:30 US Personal Income 0.4%

03.08.2010 12:30 US Personal Spending 0.2%

03.08.2010 14:00 US Factory Orders -1.4%

03.08.2010 14:00 US Pending Home Sales YoY -15.6%

03.08.2010 14:00 US Pending Home Sales MoM -30.0%

If you have any questions, please contact us for further assistance. 24 hours a day:

German: +49. 40. 66 86 49 – 0 Arabic: +971.4.319.7480

English: +49. 40. 66 86 49 – 0 Chinese: +49. 40. 66 86 49 – 896

French: +49. 40. 66 86 49 – 0 Turkish: +49. 40. 66 86 49 – 0

Russian: +49. 40. 66 86 49 – 894 or

+49. 40. 66 86 49 - 0 24 h Trading Support: +49. 40. 66 86 49 – 33

www.varengoldbankfx.com – Intelligent Investments

DISCLAIMER

IMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THIS

PROMOTIONAL DOCUMENT

This document “Daily FX Report” is a promotional document and is created and published by Varengold Wertpapierhandelsbank AG.
It is exclusively aimed at German business partners and customers who make their own investment decisions at their own risk
notwithstanding the contents of this promotional document. Investment decisions should be made on the basis of a preceding
consultation with an independent financial advisor and prospectus, but not on the basis of this promotional document. Depending on
the individual investor's investment goals, investment horizon or financial situation, the contents of the present promotional document
may not be suitable at all or only in part. This promotional document is not aimed at persons with residence and / or place of
business and / or branches abroad, particularly in the United States of America, Canada, Japan or Great Britain. This promotional
document is for information only and especially does not constitute a public offer, an advice, recommendation or an invitation to
submit an offer for purchase or selling of or subscription to securities or other financial instruments.
This promotional document does not constitute a financial analysis.
Therefore it does not fulfill the legal requirements ensuring the impartiality of financial analyses. This promotional document is not
subject to the prohibition of trades before the publication of financial analyses. With this promotional document no individual
investment advisory and / or information relationship with Varengold Wertpapierhandelsbank AG is established.
All declarations, statements or assessments included in this promotional document are those of this document's author; they do not
imperatively correspond to third party statements. Varengold Wertpapierhandelsbank AG has taken the entire information on which
the promotional document is based from sources considered serious and reliable, but without verifying the entire information. This is
why Varengold Wertpapierhandelsbank AG does not give promises or guarantees regarding precision, completeness or accuracy of
the information or opinions included. Varengold Wertpapierhandelsbank AG does not assume any liability for losses and direct or
consequential damage caused by the use of this promotional document and / or associated with the use of this promotional
document. The contents of the promotional document correspond to the state of information as of the date of its preparation. It may
be outdated on account of future developments without the promotional document having been modified. Any complete or partial
reproduction or any other usage and /or distribution of this promotional document is subject to publisher's prior written consent.

For further information please read our full disclaimer at http://www.varengold.de/en/disclaimer.html

Trading the foreign exchange market carry a high level of risk and may experience substantial loss in part or all of an investment.