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Investors Buz Forex Market Briefs

Investors Buz Forex Market Briefs

Investors Buz Forex Market Briefs

This morning, the greenback is trading lower against most of the major currencies, ahead of US initial jobless claims data, slated to be released in a few hours.

The EUR is trading higher against the USD, after Germany’s unemployment rate remained at a record low in July, in line with market consensus. In other economic news, Eurozone’s final consumer confidence index remained steady in July. Going forward, investors would concentrate on Germany’s preliminary consumer price inflation data which is expected to improve in July.

The Yen is trading higher against the USD with market participants keenly awaiting the outcome of BoJ’s interest rate decision, Japan’s unemployment rate as well as consumer price index data. Markets broadly expects that the central bank would introduce fresh stimulus measures to revive economic growth.

Yesterday, the greenback traded lower in the New York session, against the key currencies, after the US Federal Reserve, in a widely expected move, maintained its benchmark interest rate unchanged at 0.5%. In a statement issued post meeting, the central bank indicated that near-term risks to the US economic outlook has reduced and also expressed optimism over the health of the nation’s labor market, thus reviving prospects that the central bank would resume interest rate hikes as soon as in September. Further, the central bank also reiterated that it continues to closely monitor global economic and financial developments.

 

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1094 against the USD, 0.38% higher from the New York close, after Germany’s seasonally adjusted unemployment rate remained steady in July, at par with investor expectations. This morning, the pair traded at a high of 1.1118 and a low of 1.1047. The Euro traded 0.51% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1052. The pair is expected to its find support at 1.0996 and its first resistance at 1.1155.

 

GBPUSD

At 09:40 GMT, the pair is trading at 1.3179, with the Pound trading 0.24% lower against US Dollar from the New York close. In economic news, UK’s Nationwide house prices unexpectedly advanced on a monthly basis in July. The pair witnessed a high of 1.3247 and a low of 1.3156 during the session. Yesterday, the Pound traded 0.72% higher against the US Dollar in the New York session and ended at 1.3211. Immediate downside, the first support level is seen at 1.3084, while on the upside, the first resistance level is situated at 1.3261.

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USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 104.69 against the Yen, 0.57% lower from the New York close. Going ahead, investors will closely monitor BoJ’s interest rate decision. During the session, the pair traded at a high of 105.31 and a low of 104.50. Yesterday, the US Dollar traded 0.3% lower against the Yen in the New York session and ended at 105.29. The pair is expected to its find support at 104.11 and its first resistance at 105.65.

 

USDCHF

The US Dollar is trading at 0.9834 against the Swiss Franc at 09:40 GMT this morning, 0.34% lower from the New York close. With no economic releases in Switzerland today, investor sentiment would be governed by global macroeconomic news. The pair traded at a high of 0.9873 and a low of 0.9821 this morning. Yesterday, the USD traded 0.59% lower against the CHF in the New York session and ended at 0.9868. The pair is expected to its find support at 0.9786 and its first resistance at 0.9916.

 

USDCAD

The pair is trading at 1.3149 at 09:40 GMT this morning, with the USD trading 0.19% lower against CAD from the New York close. The pair traded at a high of 1.3180 and a low of 1.3097 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 0.07% lower at 1.3174. The pair is expected to its find support at 1.3080 and its first resistance at 1.3234.

 

AUDUSD

The pair is trading at 0.7531 at 09:40 GMT this morning, with the Australian Dollar trading 0.56% higher against US Dollar from the New York close. Early morning data indicated that, Australia’s import price index unexpectedly declined on a quarterly basis in 2Q 2016, while export price index rose less than estimated on a quarterly basis in the same period. This morning, the pair traded at a high of 0.7550 and a low of 0.7482. The Australian Dollar traded 0.17% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7489. The pair is expected to its find support at 0.7449 and its first resistance at 0.7582.

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Gold Prices

Gold is trading at $1347.70 per ounce at 09:40 GMT this morning, 0.11% higher from the New York close. This morning, the precious metal traded at a high of $1350.40 per ounce and a low of $1343.80 per ounce. Yesterday, gold traded 1.22% higher in the New York session and closed at $1346.20 per ounce, after the US Fed left its key interest rate unchanged. Immediate downside, the first support level is seen at $1332.47 per ounce, while on the upside, the first resistance level is at $1356.67 per ounce.

 

Silver Prices

The precious metal is trading at $20.36 per ounce at 09:40 GMT this morning, 0.12% lower from the New York close. During the session, silver traded at a high of $20.58 per ounce and a low of $20.26 per ounce. In the New York session yesterday, silver rose 3.29% and closed at $20.39 per ounce, tracking gains in gold prices. Immediate downside, the first support level is seen at $19.80 per ounce, while on the upside, the first resistance level is at $20.75 per ounce.

 

Oil Prices

The commodity is trading at $41.82 per barrel at 09:40 GMT this morning, 0.31% lower from the New York close. Crude oil witnessed a high of $42.18 per barrel and a low of $41.75 per barrel during the session. In the New York session yesterday, crude oil fell 2.01% to close at $41.95 per barrel, after the EIA disclosed that US crude stockpiles unexpectedly rose by 1.7 million barrels to 521.3 million barrels during the week ended 22 July. Immediate downside, the first support level is seen at $41.27 per barrel, while on the upside, the first resistance level is at $42.79 per barrel.

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Economic Snapshot

 

UK house prices advanced unexpectedly in July

On a MoM basis, in July, the seasonally adjusted house prices unexpectedly climbed 0.50% in the UK, more than market expectations for an unchanged reading. House prices had recorded a rise of 0.20% in the prior month.

 

Eurozone business climate indicator registered an unexpected rise in July

The business climate indicator in the Eurozone registered an unexpected rise to 0.39 in July, higher than market expectations of a fall to 0.17. In the previous month, the business climate indicator had registered a reading of 0.22.

  

German number of people unemployed fell more than expected in July

In July, the number of people unemployed recorded a drop of 7.00 K in Germany, compared to a drop of 6.00 K in the prior month. Markets were expecting the number of people unemployed to ease 4.00 K.

 

Australian export price index advanced less than expected in 2Q 2016

The export price index in Australia registered a rise of 1.40% on a quarterly basis in 2Q 2016, lower than market expectations for an advance of 3.00%. In the previous quarter, the export price index had fallen 4.70%.

 

Australian import price index unexpectedly dropped in 2Q 2016

In 2Q 2016, the import price index unexpectedly dropped 1.00% in Australia on a QoQ basis, lower than market expectations for a rise of 1.50%. The import price index had fallen 3.00% in the previous quarter.

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Jadtecnic

Founder.Editor at Investors Buz
Richard Dambrosi (JADTECNIC)Has Been Sharing Forex Analysis Trending Markets News since 2011. Editors and Founder of InvestorsBuz.com , has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars , Electric Cars, Medical Marijuana , 3d printing and Cloud computing , Refers to Readers as BUZ INVESTORS.
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One thought on “Investors Buz Forex Market Briefs

  1. […] Judging by the recent movement of the stock, along with its over 300X price-to- earnings. […]

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