USD Dollar (USD) – The dollar fell against the major currencies as risk appetite pushed the investors to higher yielding assets. The Existing Home Sales came out 5.1M better than expected 5.02M. The Stock Markets in U.S. closed positive as the NASDAQ increased by 2.1% and Dow Jones rose by 1.52%. Intel Shares have surged by 6% after releasing better than expected quarterly earnings data. The Crude Oil jumped by 3% after the Inventories data came out -2.3M less than expected 0.7M and it closed at 111.4$ a barrel. Gold (XAU) has closed sixth consecutive positive day as it posted another record high when it touched the 1506$ an ounce. Today, the Unemployment Claims are expected at 394k vs. 412k previously. The Philadelphia Fed Manufacturing Index is expected at 37.1 vs. 43.4 previously.
Euro (EUR) – The Euro advanced for the second day against the dollar and reached 15 month highs and seems like the European currency has ignored the debt worries across the zone. Breaching the resistance level at 1.4550 might push the pair to new highs. Overall, EUR/USD traded with a low of 1.4327 and with a high of 1.4546. Today, the German Ifo Business Climate Index is expected at 110.6 vs. 111.1 previously.
Euro (EUR) – The Euro advanced for the second day against the dollar and reached 15 month highs and seems like the European currency has ignored the debt worries across the zone. Breaching the resistance level at 1.4550 might push the pair to new highs. Overall, EUR/USD traded with a low of 1.4327 and with a high of 1.4546. Today, the German Ifo Business Climate Index is expected at 110.6 vs. 111.1 previously.
EUR/USD – Last: 1.4567
| Resistance | 1.4580 | ||
| Support | 1.4530 | 1.4440 | 1.4380 |
British Pound (GBP) – The Pound advanced for the second day against the dollar, although at the MPC meeting minutes most policy makers thought the past month’s data indicated a weaker economy and this dropped the sterling sharply to 1.63 zones but during the trading session it recovered and rose above the 1.64 area. Breaching the resistance level at 1.6420 might push the pair to new highs. Overall, GBP/USD traded with a low of 1.6229 and with a high of 1.6336. Today, the Retail Sales are expected at -0.5% vs. -0.8% previously.
GBP/USD – Last: 1.6437
| Resistance | 1.6445 | ||
| Support | 1.6420 | 1.6380 | 1.6300 |
Japanese Yen (JPY) – The yen is struggling against the dollar for a third day, closing almost unchanged fluctuating around the 82.5 levels and attempting to determine further trend. The Trade Balance came out 0.1T worse than expected 0.33T. Only when the pair will break the boundaries of 82.20 – 83.00 we might see new trend, otherwise fluctuation might be ongoing. Overall, USD/JPY traded with a low of 82.24 and with a high of 83.09. Today, no major economic data is expected.
USD/JPY-Last: 82.19
| Resistance | 83.00 | 83.80 | 84.40 |
| Support | 82.20 | 81.80 |
Canadian dollar (CAD) – The Canadian Dollar advanced for the second day against the U.S dollar and the USD/CAD pair touched fresh low at 0.9495 but recovered quickly and back to trade above the 0.95 zones. Holding below the resistance level of 0.9550 keeps the negative momentum for the pair. Overall, USD/CAD traded with a low of 0.9495 and with a high of 0.9563. Today, the Core Retails Sales are expected at 0.5% vs. 0% previously.
USD/CAD – Last: 0.9486
| Resistance | 0.9550 | 0.9580 | 0.9660 |
| Support | 0.9475 |
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