TODAY’S FOREX BUZZ WORD MAJOR CURRENCY PAIR 7.5.17

TODAY’S FOREX BUZZ WORD MAJOR CURRENCY PAIR 7.5.17

A DAILY SOCIAL TRADING EVENT

 MAJOR CURRENCY PAIR 7.5.17 This morning, the greenback is trading higher against most of the major currencies, ahead of the US Federal Reserve’s (Fed) latest meeting minutes, scheduled later today

BUZ INVESTORS  MAJOR CURRENCY PAIR 7.5.17 This morning, the greenback is trading higher against most of the major currencies, ahead of the US Federal Reserve’s (Fed) latest meeting minutes, scheduled later today, which may provide additional cues on timing of the next interest rate hike and details of Fed’s plans to trim its balance sheet. Moreover, the US factory orders and final durable goods orders data will be eyed by traders.

The EUR is trading lower against the USD. Data showed that the Eurozone’s retail sales grew more-than-expected in May. On the other hand, manufacturing sector activity across the common currency region cooled less than initially estimated in June, but remained at a 5-month low level.

The GBP is trading lower against the USD, after data showed that UK’s services sector sharply slowed in June, touching its lowest level in 4 months, dragged down by heightened political uncertainty following the general election and commencement of Brexit negotiations.

The AUD lost ground against the USD. Earlier today, in China, Australia’s largest trading partner, the Caixin/Markit services PMI eased in June.

Yesterday, the greenback traded lower in the New York session, against the key currencies. On Monday, data showed that the US ISM manufacturing activity index accelerated at its fastest pace in 3 years in June, suggesting that the sector will remain one of the bright spots in the world’s largest economy. Meanwhile, the nation’s construction spending remained flat in May. On the contrary, the nation’s final Markit manufacturing PMI fell more than initially estimated in June.




MAJOR CURRENCY PAIR 7.5.17

 EURUSD Fell First View for Euro Dollar to 1.1359 on Wednesday July 5

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1326 against the USD, 0.19% lower from the New York close. Earlier today, data indicated that the final Markit services PMI across the Eurozone surprisingly advanced in June. This morning, the pair traded at a high of 1.1369 and a low of 1.1318. The Euro traded marginally higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1347. The pair is expected to its find support at 1.1306 and its first resistance at 1.1357.

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 GBPUSD Rose First View for British Pound to 1.2937 on Wednesday July 5 f

GBPUSD

At 09:40 GMT, the pair is trading at 1.2913, with the Pound trading 0.07% lower against US Dollar from the New York close, after UK’s Markit services PMI eased more-than-expected in June. The pair witnessed a high of 1.2948 and a low of 1.2894 during the session. Yesterday, the Pound traded 0.06% lower against the US Dollar in the New York session and ended at 1.2922. Immediate downside, the first support level is seen at 1.2889, while on the upside, the first resistance level is situated at 1.2943.

 USDJPY Fell First View for Japanese Yen to 112.9900 on Wednesday July 5

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 113.60 against the Yen, 0.24% higher from the New York close. Data released overnight showed that Japan’s Nikkei services PMI climbed in June. During the session, the pair traded at a high of 113.62 and a low of 112.83. Yesterday, the US Dollar traded 0.11% higher against the Yen in the New York session and ended at 113.33. The pair is expected to its find support at 113.08 and its first resistance at 113.87.

 USDCHF Rose First View for Swiss Franc to 0.9640 on Wednesday July 5

USDCHF

The US Dollar is trading at 0.9673 against the Swiss Franc at 09:40 GMT this morning, 0.23% higher from the New York close. Moving ahead, investors will look forward to Switzerland’s consumer price index data, slated to release tomorrow. The pair traded at a high of 0.9676 and a low of 0.9635 this morning. Yesterday, the USD traded slightly lower against the CHF in the New York session and ended at 0.9651. The pair is expected to its find support at 0.9647 and its first resistance at 0.9688.

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 USDCAD Fell First View for Canadian Dollar to 1.2933 on Wednesday July 5

USDCAD

The pair is trading at 1.2953 at 09:40 GMT this morning, with the USD trading 0.13% higher against CAD from the New York close. The pair traded at a high of 1.2974 and a low of 1.2929 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 0.32% lower at 1.2936. On the data front, Canada’s Markit manufacturing PMI fell in June. The pair is expected to its find support at 1.2906 and its first resistance at 1.3007.

 AUDUSD Fell First View for Australian Dollar to 0.7611 on Wednesday July 5

AUDUSD

The pair is trading at 0.7596 at 09:40 GMT this morning, with the Australian Dollar trading 0.13% lower against US Dollar from the New York close. Overnight data indicated that Australia’s AiG performance of services index climbed in June. This morning, the pair traded at a high of 0.7632 and a low of 0.7595. The Australian Dollar traded 0.08% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7606. The pair is expected to its find support at 0.7583 and its first resistance at 0.7621.

 Gold Price Rose First View to 1,224.72 on Wednesday July 5

Gold

Gold is trading at $1220.90 per ounce at 09:40 GMT this morning, 0.24% lower from the New York close. This morning, the precious metal traded at a high of $1228.40 per ounce and a low of $1220.30 per ounce. Yesterday, gold traded a tad lower in the New York session and closed at $1223.80 per ounce, reversing its previous session gains. Immediate downside, the first support level is seen at $1218.00 per ounce, while on the upside, the first resistance level is at $1226.10 per ounce.

 Silver Price rose First View to 16.12 on Wednesday July 5

Silver

The precious metal is trading at $15.94 per ounce at 09:40 GMT this morning, 0.81% lower from the New York close. During the session, silver traded at a high of $16.19 per ounce and a low of $15.90 per ounce. In the New York session yesterday, silver fell 0.06% and closed at $16.07 per ounce. Immediate downside, the first support level is seen at $15.83 per ounce, while on the upside, the first resistance level is at $16.12 per ounce.

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 Crude oil Price fell First View to 47.10 on Wednesday July 5

Oil

The commodity is trading at $46.46 per barrel at 09:40 GMT this morning, 1.38% lower from the New York close, ahead of the API’s weekly crude oil stockpiles data, scheduled to be released later today. Crude oil witnessed a high of $47.24 per barrel and a low of $46.26 per barrel during the session. In the New York session yesterday, crude oil rose 0.32% to close at $47.11 per barrel, extending its prior session gains. Immediate downside, the first support level is seen at $46.04 per barrel, while on the upside, the first resistance level is at $47.10 per barrel.

 

Economic Snapshot

 

UK services PMI recorded a decline in June

The services PMI in the UK recorded a drop to 53.40 in June, compared to a reading of 53.80 in the previous month. Markets were expecting the services PMI to drop to a level of 53.50.

 

 

 

Eurozone retail sales rose more-than-expected in May

In May, the seasonally adjusted retail sales climbed 0.40% on a monthly basis in the Eurozone, compared to market consensus for a gain of 0.30%. In the previous month, retail sales had registered a rise of 0.10%.

 

 German services PMI slid in June

In Germany, the final services PMI registered a drop to 54.00 in June, compared to a level of 55.40 in the previous month. The preliminary figures had recorded a fall to 53.70. Markets were expecting services PMI to fall to a level of 53.70.

 

Japanese services PMI advanced in June

Japan’s Nikkei services PMI rose to a level of 53.3 in June, compared to a level of 53.0 in the previous month.

 

 




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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST 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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