TODAY’S FOREX BUZZ WORD MAJOR CURRENCY PAIR 4.15.17

TODAY’S FOREX BUZZ WORD MAJOR CURRENCY PAIR 4.20.17

TODAY’S FOREX BUZZ WORD MAJOR CURRENCY PAIR 4.20.17

A DAILY SOCIAL TRADING EVENT

BUZ INVESTORS MAJOR CURRENCY PAIR 4.20.17 This morning, the greenback is trading lower against most of the major currencies, ahead of the US leading indicators, the Philadelphia Fed business outlook index and weekly jobless claims data, all slated to release in a few hours.

BUZ INVESTORS  MAJOR CURRENCY PAIR 4.20.17 This morning, the greenback is trading lower against most of the major currencies, ahead of the US leading indicators, the Philadelphia Fed business outlook index and weekly jobless claims data, all slated to release in a few hours.

The EUR is trading higher against the USD, after the Eurozone’s construction output accelerated at its fastest pace in nearly 5 years in February.

The GBP is trading higher against the USD. Yesterday, British lawmakers approved Prime Minister, Theresa May’s plan to hold an early general election on 08 June. Members of the British Parliament voted by a resounding 522 to 13 in favor of a snap general election.

The Yen is trading lower against the USD. Overnight data revealed that Japan’s total merchandise trade surplus narrowed less-than-anticipated in March. On the other hand, the nation posted a ¥4 trillion trade surplus for the fiscal year ended March, its first trade surplus in six years. Additionally, the nation’s annual exports grew at the quickest pace in more than 2 years in March, while imports jumped to a 3 year high level in the same month.

Yesterday, the greenback traded higher in the New York session, against the key currencies. In economic news, the US Federal Reserve’s (Fed) Beige Book indicated that economic activity across all 12 districts in the US increased at a modest-to-moderate pace during mid-February through end of March. Moreover, it revealed that inflation pressures remained modest and a tighter labor market helped broaden wage gains. Furthermore, a large number of firms reported high turnover rates and challenges in retaining staff. On the data front, the US MBA mortgage applications dropped last week.



 MAJOR CURRENCY PAIR 4.20.17

Euro Dollar Insight EURUSD increased 0.0045 or 0.42%

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.0772 against the USD, 0.58% higher from the New York close. Earlier in the session, the Eurozone’s seasonally adjusted construction output advanced on a monthly basis in February. This morning, the pair traded at a high of 1.0777 and a low of 1.0706. The Euro traded 0.12% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0710. The pair is expected to its find support at 1.0721 and its first resistance at 1.0800.

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British Pound Insight GBPUSD increased 0.0037 or 0.29%

GBPUSD

At 09:40 GMT, the pair is trading at 1.2837, with the Pound trading 0.41% higher against US Dollar from the New York close. Moving ahead, market participants will closely monitor UK’s retail sales data, scheduled to release tomorrow. The pair witnessed a high of 1.2844 and a low of 1.2770 during the session. Yesterday, the Pound traded 0.38% lower against the US Dollar in the New York session and ended at 1.2784. Immediate downside, the first support level is seen at 1.2783, while on the upside, the first resistance level is situated at 1.2875.

 

Japanese Yen Insight USDJPY increased 0.2200 or 0.20%

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 109.00 against the Yen, 0.14% higher from the New York close. Overnight data indicated that Japan’s adjusted merchandise trade surplus narrowed less-than market anticipations in March. During the session, the pair traded at a high of 109.08 and a low of 108.69. Yesterday, the US Dollar traded marginally lower against the Yen in the New York session and ended at 108.85. The pair is expected to its find support at 108.72 and its first resistance at 109.23.

 

Swiss Franc Insight USDCHF decreased 0.0030 or 0.30%

USDCHF

The US Dollar is trading at 0.9944 against the Swiss Franc at 09:40 GMT this morning, 0.37% lower from the New York close. Looking ahead, Switzerland’s ZEW expectations index, will be on investor’s radar, set to release tomorrow. The pair traded at a high of 0.9985 and a low of 0.9938 this morning. Yesterday, the USD traded 0.11% higher against the CHF in the New York session and ended at 0.9981. The pair is expected to its find support at 0.9924 and its first resistance at 0.9978.

 

Canadian Dollar Insight USDCAD increased 0.0005 or 0.03%

USDCAD

The pair is trading at 1.3482 at 09:40 GMT this morning, with the USD trading marginally higher against CAD from the New York close. Amid no economic releases in Canada today, investors would look forward to global macroeconomic news for further direction. The pair traded at a high of 1.3490 and a low of 1.3459 this morning. The US Dollar advanced against the Canadian Dollar in the New York session yesterday, closing 0.35% higher at 1.3480. The pair is expected to its find support at 1.3433 and its first resistance at 1.3511.

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Australian Dollar Insight AUDUSD increased 0.0033 or 0.44%

AUDUSD

The pair is trading at 0.7516 at 09:40 GMT this morning, with the Australian Dollar trading 0.28% higher against US Dollar from the New York close. Early morning data indicated that Australia’s NAB business confidence index remained unchanged in the first quarter of 2017. This morning, the pair traded at a high of 0.7532 and a low of 0.7489. The Australian Dollar traded 0.29% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7495. The pair is expected to its find support at 0.7492 and its first resistance at 0.7536.

Gold increased 0.84 USD/t oz. or 0.07%

 

Gold

Gold is trading at $1281.40 per ounce at 09:40 GMT this morning, slightly higher from the New York close. This morning, the precious metal traded at a high of $1283.80 per ounce and a low of $1278.40 per ounce. Yesterday, gold traded 0.48% lower in the New York session and closed at $1281.10 per ounce, amid broad strength in the US Dollar. Immediate downside, the first support level is seen at $1275.27 per ounce, while on the upside, the first resistance level is at $1287.67 per ounce.

 

Silver increased 0.10 USD/t. oz or 0.57%

Silver

The precious metal is trading at $18.19 per ounce at 09:40 GMT this morning, 0.3% higher from the New York close. During the session, silver traded at a high of $18.22 per ounce and a low of $18.11 per ounce. In the New York session yesterday, silver fell 0.71% and closed at $18.13 per ounce, tracking losses in gold prices. Immediate downside, the first support level is seen at $18.09 per ounce, while on the upside, the first resistance level is at $18.28 per ounce.

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Crude Oil increased 0.27 USD/BBL or 0.54%

Oil

The commodity is trading at $50.81 per barrel at 09:40 GMT this morning, 0.45% higher from the New York close. Crude oil witnessed a high of $50.92 per barrel and a low of $50.50 per barrel during the session. In the New York session yesterday, crude oil fell 3.47% to close at $50.58 per barrel, after the EIA reported a surprise rise in US gasoline inventories. On the other hand, US crude oil stockpiles dropped less-than-expected by 1.0 million barrels to 532.3 million barrels last week. Immediate downside, the first support level is seen at $49.72 per barrel, while on the upside, the first resistance level is at $52.28 per barrel.

 

Economic Snapshot

 

Eurozone construction output advanced in February

On a monthly basis, the seasonally adjusted construction output climbed 6.90% in the Eurozone, in February. Construction output had registered a revised drop of 2.40% in the previous month.

 

German producer price index climbed less than expected in March

The producer price index rose 3.10% on a YoY basis in Germany, in March, less than market expectations for an advance of 3.20%. In the prior month, the producer price index had registered a similar rise.

 

Japanese imports grew more than expected in March

Imports registered a rise of 15.80% in Japan on a YoY basis in March, compared to a rise of 1.20% in the prior month. Market anticipation was for imports to rise 10.00%.

  

Japanese exports advanced more than expected in March

On a YoY basis in Japan, exports registered a rise of 12.00% in March, more than market expectations for a rise of 6.20%. In the prior month, exports had registered a rise of 11.30%.

 

Australian business confidence index remained steady in 1Q 2017

The business confidence index remained unchanged at 6.00 in 1Q 2017, in Australia.




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