TODAY’S FOREX BUZZ WORD MAJOR CURRENCY PAIR 4.15.17
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TODAY’S FOREX BUZWORD MAJOR CURRENCY PAIR 3.16.17

TODAY’S FOREX BUZWORD MAJOR CURRENCY PAIR 3.16.17

A DAILY SOCIAL TRADING EVENT

Buz Investors  MAJOR CURRENCY PAIR 3.16.17  This morning, the greenback is trading higher against most of the major currencies, ahead of US housing starts, building permits and initial jobless claims data, slated to release in a few hours. Moreover,

Buz Investors  MAJOR CURRENCY PAIR 3.16.17  This morning, the greenback is trading higher against most of the major currencies, ahead of US housing starts, building permits and initial jobless claims data, slated to release in a few hours. Moreover, Trump administration’s fiscal 2018 federal budget plan will be eyed by investors’.

The Yen is trading lower against the USD. Earlier today, the Bank of Japan (BoJ) kept the benchmark interest rate unchanged at -0.1%, as widely expected. Also, the central bank held the pace of annual asset purchases unchanged at about ¥80.0 trillion and pledged to guide the 10-year government bond yield at around 0.0%.

The AUD lost ground against the USD, after Australia’s seasonally adjusted unemployment rate surprisingly jumped to its highest level in 13 months in February.

Yesterday, the greenback traded lower in the New York session, against the key currencies, after the Federal Reserve (Fed) did not flag any plan to accelerate the pace of future rate hikes this year. The Fed, as widely expected, raised the key interest rates by a quarter-point, a move spurred by robust job gains and optimism that inflation will soon rise to the central bank’s target. The central bank also stuck to its outlook for two additional rate increases this year, while the outlook for the economy changed little, with officials expecting economic growth of 2.1% this year and next, before slipping to 1.9% in 2019.



 MAJOR CURRENCY PAIR 3.16.17

EURUSD increased 0.0004 or 0.03%

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.0712 against the USD, 0.21% lower from the New York close. In economic news, the Eurozone’s final consumer price index advanced on an annual basis in February, confirming the flash estimates. This morning, the pair traded at a high of 1.0746 and a low of 1.0704. The Euro traded 1.07% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0735, after Dutch exit polls showed that Liberals have a big lead over the anti-Islam Freedom Party. The pair is expected to its find support at 1.0630 and its first resistance at 1.0770.

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GBPUSD increased 0.0078 or 0.63%

GBPUSD

At 09:40 GMT, the pair is trading at 1.2247, with the Pound trading 0.32% lower against US Dollar from the New York close. Moving ahead, traders will focus on the Bank of England’s interest rate decision, scheduled in a few hours. The pair witnessed a high of 1.2295 and a low of 1.2239 during the session. Yesterday, the Pound traded 0.78% higher against the US Dollar in the New York session and ended at 1.2286. Immediate downside, the first support level is seen at 1.2180, while on the upside, the first resistance level is situated at 1.2311.

 

USDJPY decreased 0.2600 or 0.23%

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 113.41 against the Yen, marginally lower from the New York close. Earlier today, the Bank of Japan (BoJ) maintained the key interest rate steady at -0.1%, in line with market expectations. During the session, the pair traded at a high of 113.54 and a low of 112.89. Yesterday, the US Dollar traded 1.06% lower against the Yen in the New York session and ended at 113.46. The pair is expected to its find support at 112.59 and its first resistance at 114.52.

 

USDCHF decreased 0.0044 or 0.43%

USDCHF

The US Dollar is trading at 0.9992 against the Swiss Franc at 09:40 GMT this morning, 0.1% lower from the New York close. Earlier in the session, the Swiss National Bank (SNB) kept the benchmark interest rate unchanged at -0.75%, as widely expected. The pair traded at a high of 1.0012 and a low of 0.9975 this morning. Yesterday, the USD traded 0.86% lower against the CHF in the New York session and ended at 1.0002. The pair is expected to its find support at 0.9945 and its first resistance at 1.0068.

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USDCAD increased 0.0005 or 0.04%

USDCAD

The pair is trading at 1.3317 at 09:40 GMT this morning, with the USD trading 0.13% higher against CAD from the New York close. Amid a lack of crucial economic releases in Canada today, investors’ will look forward to global macroeconomic events for further direction. The pair traded at a high of 1.3321 and a low of 1.3274 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 1.19% lower at 1.3300. The pair is expected to its find support at 1.3235 and its first resistance at 1.3439.

AUDUSD decreased 0.0024 or 0.31%

AUDUSD

The pair is trading at 0.7687 at 09:40 GMT this morning, with the Australian Dollar trading 0.22% lower against US Dollar from the New York close, after early morning data indicated that Australia’s seasonally adjusted unemployment rate surprisingly advanced to 5.9% in February. This morning, the pair traded at a high of 0.7717 and a low of 0.7673. The Australian Dollar traded 1.57% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7704. The pair is expected to its find support at 0.7602 and its first resistance at 0.7745.

Gold increased 12.50 USD/t oz. or 1.03%

Gold

Gold is trading at $1223.90 per ounce at 09:40 GMT this morning, 0.43% higher from the New York close. This morning, the precious metal traded at a high of $1228.70 per ounce and a low of $1218.10 per ounce. Yesterday, gold traded 1.59% higher in the New York session and closed at $1218.60 per ounce, amid a broad weakness in the greenback after the US Fed did not signal a faster pace of interest rate hikes this year. Immediate downside, the first support level is seen at $1204.23 per ounce, while on the upside, the first resistance level is at $1236.13 per ounce.

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Silver increased 0.19 USD/t. oz or 1.08%

Silver

The precious metal is trading at $17.46 per ounce at 09:40 GMT this morning, 0.81% higher from the New York close. During the session, silver traded at a high of $17.55 per ounce and a low of $17.30 per ounce. In the New York session yesterday, silver rose 2.36% and closed at $17.32 per ounce. Immediate downside, the first support level is seen at $17.01 per ounce, while on the upside, the first resistance level is at $17.73 per ounce.

 

Crude Oil increased 0.43 USD/BBL or 0.88%

Oil

The commodity is trading at $49.32 per barrel at 09:40 GMT this morning, 0.39% higher from the New York close. Crude oil witnessed a high of $49.62 per barrel and a low of $49.01 per barrel during the session. In the New York session yesterday, crude oil rose 1.28% to close at $49.13 per barrel, after the EIA reported that US crude oil inventories unexpectedly fell by 0.24 million barrels to 528.20 million barrels last week, recording its first decline in 10 weeks. Immediate downside, the first support level is seen at $48.45 per barrel, while on the upside, the first resistance level is at $49.91 per barrel.

 

Economic Snapshot

 

Eurozone consumer price index rose as expected in February

The final consumer price index advanced 2.00% in the Eurozone on an annual basis in February, in line with market expectations. The consumer price index had registered a rise of 1.80% in the previous month. The preliminary figures had also recorded a rise of 2.00%.

 

 

 

 

  

 




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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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