FOREX INVESTORS BUZZ WORD MAJOR CURRENCY PAIRS 7.17.17

A DAILY SOCIAL TRADING EVENT

MAJOR CURRENCY PAIRS 7.17.17 This morning, the greenback is trading higher against most of the major currencies,

FOREX INVESTORS BUZZ WORD MAJOR CURRENCY PAIRS 7.17.17 This morning, the greenback is trading higher against most of the major currencies, ahead of the New York Empire State manufacturing index, slated to release in a few hours.

The EUR is trading lower against the USD, after final reading on the Eurozone’s consumer prices confirmed that the region’s inflation slowed to a 6-month low in June.

The AUD lost ground against the USD. Macroeconomic data indicated that China’s, Australia’s largest trading partner, economy expanded faster than expected on an annual basis in the second quarter of 2017, boosted by a pick-up in industrial output and stronger investment. Moreover, the nation’s industrial production climbed more-than-expected in June, while retail sales grew at its quickest pace since December 2015 in the same month.

On Friday, the greenback traded lower in the New York session, against the key currencies, after dismal US economic data quelled expectations of another interest rate hike by the US Federal Reserve this year. Data indicated that consumer prices in the US remained flat on a monthly basis in June, while the nation’s advance retail sales unexpectedly fell in the same month, dropping for a second straight month. Moreover, confidence amongst Americans deteriorated in July, pushing the index to its lowest level in 9 months. In other economic news, the US industrial production grew above expectations in June, while the nation’s manufacturing production rebounded as expected in the same month. Moreover, the nation’s business inventories rose in May, meeting market expectations.



MAJOR CURRENCY PAIRS 7.17.17

 AUDUSD Fell First Look on Monday July 17

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1458 against the USD, 0.1% lower from the New York close. Earlier today, data showed that the Eurozone’s final consumer price index advanced as expected in June. This morning, the pair traded at a high of 1.1475 and a low of 1.1435. The Euro traded 0.07% higher against the US Dollar in the New York session on Friday, with the pair closing the session at 1.1470. The pair is expected to its find support at 1.1421 and its first resistance at 1.1485.

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 GBPUSD Rose First Look on Monday July 17

GBPUSD

At 09:40 GMT, the pair is trading at 1.3071, with the Pound trading 0.28% lower against US Dollar from the New York close. Overnight data indicated that UK’s Rightmove house price index rebounded on a monthly basis in July. The pair witnessed a high of 1.3113 and a low of 1.3068 during the session. On Friday, the Pound traded 0.75% higher against the US Dollar in the New York session and ended at 1.3108. Immediate downside, the first support level is seen at 1.2981, while on the upside, the first resistance level is situated at 1.3138.

 USDJPY Rose First Look on Monday July 17

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 112.54 against the Yen, slightly higher from the New York close. Amid a holiday in Japan today, investors will look forward to global macroeconomic events, for further direction. During the session, the pair traded at a high of 112.77 and a low of 112.40. On Friday, the US Dollar traded 0.17% higher against the Yen in the New York session and ended at 112.50. The pair is expected to its find support at 112.12 and its first resistance at 113.12.

 USDCHF Rose Early Look on Monday July 17

USDCHF

The US Dollar is trading at 0.9630 against the Swiss Franc at 09:40 GMT this morning, a tad lower from the New York close. With no economic releases in Switzerland today, trading trend in the CHF is expected to be determined by global macroeconomic news. The pair traded at a high of 0.9659 and a low of 0.9629 this morning. On Friday, the USD traded 0.06% lower against the CHF in the New York session and ended at 0.9632. The pair is expected to its find support at 0.9606 and its first resistance at 0.9678.

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 USDCAD Rose First Look on Monday July 17

USDCAD

The pair is trading at 1.2666 at 09:40 GMT this morning, with the USD trading 0.13% higher against CAD from the New York close. Looking ahead, investors will focus on Canada’s existing home sales data, scheduled to release in a few hours. The pair traded at a high of 1.2673 and a low of 1.2640 this morning. The US Dollar declined against the Canadian Dollar in the New York session on Friday, closing 0.5% lower at 1.2650. The pair is expected to its find support at 1.2622 and its first resistance at 1.2729.

 AUDUSD Fell First Look on Monday July 17

AUDUSD

The pair is trading at 0.7811 at 09:40 GMT this morning, with the Australian Dollar trading 0.2% lower against US Dollar from the New York close. On the data front, in China, Australia’s largest trading partner, the gross domestic product (GDP) advanced as expected on a quarterly basis in 2Q 2017. This morning, the pair traded at a high of 0.7832 and a low of 0.7803.  The Australian Dollar traded 0.09% higher against the US Dollar in the New York session on Friday, with the pair closing the session at 0.7827. The pair is expected to its find support at 0.7767 and its first resistance at 0.7845.

 Gold Prices Rose First Look on Monday July 17

Gold

Gold is trading at $1229.40 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 $1231.50 per ounce and a low of $1227.90 per ounce. On Friday, gold traded 0.27% lower in the New York session and closed at $1228.00 per ounce, amid strength in the US equities. Immediate downside, the first support level is seen at $1220.70 per ounce, while on the upside, the first resistance level is at $1235.40 per ounce.

 Silver Prices Rose First Look on Monday July 17

Silver

The precious metal is trading at $16.00 per ounce at 09:40 GMT this morning, 0.31% higher from the New York close. During the session, silver traded at a high of $16.06 per ounce and a low of $15.94 per ounce. In the New York session on Friday, silver fell 0.53% and closed at $15.95 per ounce. Immediate downside, the first support level is seen at $15.74 per ounce, while on the upside, the first resistance level is at $16.16 per ounce.

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 Crude oil Price Rose First Look on Monday July 17

Oil

The commodity is trading at $46.50 per barrel at 09:40 GMT this morning, 0.39% lower from the New York close. Crude oil witnessed a high of $46.88 per barrel and a low of $46.38 per barrel during the session. In the New York session on Friday, crude oil rose 1.24% to close at $46.68 per barrel. However, gains in crude prices were limited, after Baker Hughes indicated that US oil rig count increased by 2 to 765 last week. Immediate downside, the first support level is seen at $45.96 per barrel, while on the upside, the first resistance level is at $46.96 per barrel.




 

Economic Snapshot

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Eurozone consumer price index advanced as expected in June

The final consumer price index in the Eurozone climbed 1.30% on an annual basis in June, compared to an advance of 1.40% in the prior month. Markets were expecting the consumer price index to rise 1.30%. The preliminary figures had also indicated an advance of 1.30%.

Chinese retail sales grew more-than-expected in June

On a YoY basis, retail sales in China recorded a rise of 11.00% in June, higher than market expectations for an advance of 10.60%. In the prior month, retail sales had climbed 10.70%.

 

Chinese industrial production advanced more-than-expected in June

On an annual basis, in June, industrial production climbed 7.60% in China, compared to a rise of 6.50% in the previous month. Markets were anticipating industrial production to climb 6.50%.



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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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