USD Dollar (USD) – The Dollar advanced against the other majors as risk aversion and Dollar bullish momentum continued after US disappointing ADP Non-Farm Employment Change that came out 13K worse than expected 58k. Another negative day was in US Stock Markets with NASDAQ and Dow Jones falling by -1.21% and -0.98% respectively. Crude oil slightly declined closing at 75.25$ a barrel, Gold (XAU) rose by 0.2% closing at 1242.4$ an ounce. Today, the Initial Jobless Claims is expected at 460K vs. 457K previously. The ISM Manufacturing Index is expected at 59 vs. 59.7 previously.
Euro (EUR) – The Euro jumped against the Dollar in Forex Trading to 1.23 zones after the ECB said it would lend banks less than analysts estimated; spurring optimism that funding pressures among financial institutions are lowering, but erased part of the gains after the decision of Moody’s to put Spain’s rating on review for a potential downgrade. The CPI came out 1.4% worse than expected 1.5%. Breaking the 1.2170 support level might push the pair lower. Overall, EUR/USD traded with a low of 1.2165 and with a high of 1.2303. Today, the Manufacturing PMI is expected unchanged at 55.6.
EUR/USD – Last: 1.2209
Resistance |
1.2270 |
1.23 |
1.2400 |
Support |
1.2170 |
1.2130 |
1.2060 |
British Pound (GBP) – The US negative employment data pushed the Pound to a 3 day low against the dollar breaking down the 1.5 level. The Nationwide HPI came out 0.1% worse than expected 0.3%. Breaking below the 1.4880 support level might push the pair lower. Overall, GBP/USD traded with a low of 1.4930 and with a high of 1.572. Today, the Manufacturing PMI is expected at 57.6 vs. 58 previously.
GBP/USD - Last: 1.4930
Resistance |
1.5020 |
1.5080 |
1.5130 |
Support |
1.4880 |
1.4850 |
1.4800 |
Japanese Yen (JPY) – The Japanese Yen gained versus the dollar as US stock markets declined and a potential downgrade of Spain was discussed. The Tankan Manufacturing Index came out 1 better than expected -3. Breaking below the 87.80 support level might push the pair lower. Overall, USD/JPY traded with a low of 88.34 and with a high of 88.75. No major economic data is expected today.
USD/JPY-Last: 88.16
Resistance |
88.90 |
89.50 |
90.00 |
Support |
88.1 |
|
|
Canadian dollar (CAD) – Canada’s Dollar fell against the American dollar to the lowest level in more than three weeks after the GDP reports came out 0% worse than expected 0.2%. Breaching the 1.0710 might push the pair higher. Overall, USD/CAD traded with a low of 1.0465 and with a high of 1.0647.
USD/CAD-Last: 1.0670
Resistance |
1.0670 |
|
|
Support |
1.06 |
1.0530 |
1.0440 |