Buz Investors EURUSD Marginally Higher A very light economic calendar and some easing political concerns are resulting in a modest gain in EUR/USD in today’s trading. The pair is currently at 1.0619, up 0.10% over Friday’s close.

EURUSD FOREX EXCHANGE HIGHER MIDDAY Monday August 21

EURUSD FOREX EXCHANGE HIGHER MIDDAY Monday August 21

EURUSD FOREX EXCHANGE increased 0.0060 or 0.51% to 1.1813 on Monday August 21 from 1.1753
EUR/USD remains neutral as the correction from 1.1908 continues. Deeper fall could be seen but downside should be contained by 38.2% retracement of 1.1119 to 1.1908 at 1.1606 to bring up trend resumption. Break f 1.1846 minor resistance will argue larger rise from 1.0339 is resuming for 1.2042 long term support turned resistance next.

EURUSD FOREX EXCHANGE increased 0.0060 or 0.51% to 1.1813 on Monday August 21 from 1.1753 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.

EUR/USD has edged higher in the Monday session. Currently the pair is trading at 1.1815, up 0.45% on the day. On the release front, it’s a very quiet start to week, so we’re unlikely to see any significant movement from the pair on Monday. There are no US releases, and the sole euro zone event is the Deutsche Bundesbank monthly bulletin. On Tuesday, Germany releases ZEW Economic Sentiment, which is expected to slow to 15.3 points.



EURUSD FOREX EXCHANGE

The euro took a dip on Thursday, following a terrorist attack in Barcelona, which killed 13 and wounded dozens. EUR/USD dropped below the 1.17 line and touched 3-week lows. However, the euro has quickly recovered, and is trading at 1.18. Barring any geopolitical crises, such as another terrorist attack, we can expect a few slow days until the Jackson Hole summit on Wednesday. Both the ECB and Federal Reserve find themselves pursuing a less accommodative monetary policy, and the markets will be listening closely to Janet Yellen and Mario Draghi. Will Yellen hint at a December rate hike?

Will Draghi provide clues regarding the windup of the ECB’s asset-purchases program? Any comments in this vein could be seized upon by the markets and trigger strong movement by the euro. This was the case in June, when Draghi spoke at a central bankers meeting in Portugal, and his upbeat comments about the euro zone economy sent the euro soaring.




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GBPUSD Pound Jumps to 1.25, Markets Eye Autumn

GBPUSD FOREX INVESTORS RISING MIDDAY Monday August 21

GBPUSD FOREX INVESTORS RISING MIDDAY Monday August 21

GBPUSD FOREX INVESTORS increased 0.0034 or 0.26% to 1.2906 on Monday August 21 from 1.2872 i
GBP/USD remains on the downside with 1.2915 minor resistance intact. Current fall from 1.3267 should target 1.2588 key near term support. We’re favoring the case that correction from 1.1946 is completed at 1.3267. Decisive break of 1.2588 will confirm our view and target a test on 1.1946 low. On the upside, above 1.2915

GBPUSD FOREX INVESTORS increased 0.0034 or 0.26% to 1.2906 on Monday August 21 from 1.2872 in the previous trading session. Historically, the British Pound reached an all time high of 2.86 in December of 1957 and a record low of 1.05 in February of 1985.

24-hour view: “GBP traded in a range of 1.3832/1.2919, modestly wider than our expected 1.2830/1.2910 consolidation range. The daily closing is largely unchanged which suggests further range trading, likely not moving much out of last Friday’s range”.



GBPUSD FOREX INVESTORS

Next 1-3 weeks: “The bearish phase that started two weeks ago (see update on 07 Aug, spot at 1.3045) is still intact as GBP eked out a ‘fresh low’ of 1.2832 last Friday. Downward momentum appears to be struggling even though another leg lower towards the major support at 1.2775 is not ruled out just yet. Only a move back above 1.2970 (stop-loss level unchanged) would indicate that the bearish phase has ended (on a shorter-term note, GBP should ideally hold below the 1.2920 resistance)”.

In the bigger picture, overall, price actions from 1.1946 medium term low are seen as a corrective pattern. While further rise cannot be ruled out, larger outlook remains bearish as long as 1.3444 key resistance holds. Down trend from 1.7190 (2014 high) is expected to resume later after the correction completes. And break of 1.2588 will indicate that such down trend is resuming.




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USDJPY Yen Steady Ahead of US Housing, Manufacturing Reports

USDJPY FOREX EXCHANGE LOWER MIDDAY Monday August 21

USDJPY FOREX EXCHANGE LOWER MIDDAY Monday August 21

USDJPY FOREX EXCHANGE decreased 0.5450 or 0.50% to 108.7700 on Monday August 21 from 109.3150
USD/JPY tried to rebound last week but it was limited at 110.94 and reversed. The cross was also limited below 55 day and 55 week EMA. Breach of 108.72 suggests that fall from 114.49 is resuming. Initial bias remains on the downside this week for 108.12 low first. Whole corrective decline from 118.65 is possibly resuming and break of 108.12 will target 61.8% retracement of 98.97 to 118.65 at 106.48.

USDJPY FOREX EXCHANGE decreased 0.5450 or 0.50% to 108.7700 on Monday August 21 from 109.3150 in the previous trading session. Historically, the Japanese Yen reached an all time high of 306.84 in December of 1975 and a record low of 75.74 in October of 2011.

Spot is coming down propelled by the increasing downside pressure around US yields, where yields of the 10-year reference are probing daily lows around 2.18%.



USDJPY FOREX EXCHANGE

In addition, the US Dollar Index (DXY) remains on the defensive, eroding initial gains and breaking below the critical 93.00 support, recording at the same time fresh multi-day lows.

Data wise today, US Chicago Fed National Activity index dropped to -0.01 in July from June’s 0.16. All the attention this week, however, should be on the upcoming Jackson Hole Symposium on Thursday and Friday.




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USDCHF Clawing Back Following Monday’s Break

USDCHF FOREX EXCHANGE LOWER MIDDAY Monday August 21

USDCHF FOREX EXCHANGE LOWER MIDDAY Monday August 21

USDCHF FOREX EXCHANGE decreased 0.0040 or 0.41% to 0.9608 on Monday August 21 from 0.9648
USD/CHF failed to take out 0.9772 resistance last week and reversed. But the pair stays inside range of 0.9582/9772. Initial bias remains neutral this week first. On the upside, decisive break of 0.9772 resistance will revive the bullish case of reversal. That is, whole decline from 1.0342 has completed at 0.9437 after defending 0.9443 support. USD/CHF should then target channel resistance (now at 0.9862)

USDCHF FOREX EXCHANGE decreased 0.0040 or 0.41% to 0.9608 on Monday August 21 from 0.9648 in the previous trading session. Historically, the Swiss Franc reached an all time high of 3.88 in April of 1972 and a record low of 0.72 in August of 2011.

USD/CHF’s rejection by the mid-June and current August highs at .9770/72 has practically taken it back towards its current August low at .9583 before recovering from this area once more. Together with the current August low at .9583 and the June trough at .9553 we expect this area to hold. As long as this is the case on a daily chart closing basis, the .9770/72 zone could be revisited. Slightly higher up significant resistance can be seen between the March low and late May high at .9808/14”.



USDCHF FOREX EXCHANGE

“Only currently unexpected failure at the .9553 June low would imply a return visit to the .9444/39 July low and May 2016 low”.

“In order to reignite medium term upside interest we suspect that the currency pair will need to close above the .9814 end of March low and overcome the 55 week ma at .9883”.




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USDCAD Trump Shock Pushes Canadian Dollar Down

USDCAD FOREX EXCHANGE LOWER MIDDAY Monday August 21

USDCAD FOREX EXCHANGE LOWER MIDDAY Monday August 21

USDCAD FOREX EXCHANGE  traded at 1.2584 on Monday August 21. Historically, the Canadian Dollar
USD/CAD remains on the downside for the moment. As noted before, corrective recovery from 1.2412 could have completed at 1.2777 already. Deeper decline would be seen back to 1.2412 low first. Break there will resume the larger decline and target next long term fibonacci level at 1.2048. On the upside, above 1.2690 will extend the correction from 1.2412 with another rise. But we’d expect upside to be limited by 38.2% retracement of 1.3793 to 1.2412 at 1.2940 to bring fall resumption eventually.

USDCAD FOREX EXCHANGE  traded at 1.2584 on Monday August 21. Historically, the Canadian Dollar reached an all time high of 1.61 in January of 2002 and a record low of 0.92 in November of 2007.

The Loonie is quiet today as it consolidates in a narrow range. Commodities are mixed this morning with oil consolidating from Friday’s gains. We have Wholesale trade data this morning, which printed below forecast and Retail Sales will release tomorrow.

The USD is trading softer today on quiet market trading. The focus this week will be Jackson Hole this Friday where FED Chair Yellen and ECB President Draghi will speak. Expectations for Fed tightening has once again soften with the possibility of a December rate hike down to 30%. Equities are slightly weaker today as the broader market tone looks to be one of mild risk aversion. On the data front, there’s no major data release today. The next major data release will be US Oil Inventories on Wednesday and Unemployment Claims on Thursday. FC



USDCAD FOREX EXCHANGE

 

The expect a range today of 1.2519 to 1.2619

Canadian Dollar vs Euro and Great British Pound

Quiet day on the fundamental front in Europe today, but there will be more data to come later this week. Perhaps the most anticipated event this week will be Draghi’s appearance in Lindau, Germany on Wednesday and Wyoming, US on Friday where he will be speaking. There are rumours that he is expected to make no major shift in tone in his appearances. The Euro is currently trading at 1.4810. CK

We expect a range today of 1.4759 to 1.4888

 



 

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AUDUSD flirting with 2-month lows

AUDUSD FOREX EXCHANGE ROSE MIDDAY Monday August 21

AUDUSD FOREX EXCHANGE ROSE MIDDAY Monday August 21

AUDUSD FOREX EXCHANGE increased 0.0015 or 0.19% to 0.7940 on Monday August 21 from 0.7925
AUD/USD remains mildly on the upside for retesting 0.8065. The pull back from there should have completed at 0.7807 already. Firm break of 0.8065 will resume the medium term rise and target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335. In case of another fall, we’d continue to expect strong support from 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) to contain downside and bring rebound.

AUDUSD FOREX EXCHANGE increased 0.0015 or 0.19% to 0.7940 on Monday August 21 from 0.7925 in the previous trading session. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001.

A fresh wave of greenback selling pressure has emerged over the past hour or so, lifting the AUD/USD pair fresh session tops, in the region of 0.7945-50 band.



AUDUSD FOREX EXCHANGE

Fading optimism over the US President Donald Trump’s pro-growth economic agenda, coupled with growing market consensus that the Fed might refrain from raising interest rates further in 2017 kept the US Dollar bulls on the back-foot and helped the pair to bounce off session low level of 0.7910.

Adding to this, a softer US Treasury bond yields, primarily led by the risk-off environment, was also seen driving flows towards higher-yielding currencies and collaborated to the pair’s up-move since the mid-European session.

Meanwhile, the prevalent positive tone around the commodity space, especially copper, provided an additional boost to commodity-linked currencies, including the Australian Dollar, and remained supportive of the pair’s move back closer to a two-week high touched last Thursday.




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Currency Traders Week Ahead  In the US, inflation figures and JOLTs job openings will be in the spotlight.

FOREX INVESTORS BUZZ Weekly Forex Update

FOREX INVESTORS BUZZ Weekly Forex Update

CURRENCY TRADERS

Weekly Forex Update Last week, the forex market was dictated by dovish minutes of the Federal Reserve’s <span data-recalc-dims=(Fed) and the European Central Bank’s July monetary policy meeting." width="300" height="132" srcset="https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/06/weekly-forex-buzz-word.png?resize=300%2C132 300w, https://i1.wp.com/investorsbuz.com/wp-content/uploads/2017/06/weekly-forex-buzz-word.png?w=733 733w" sizes="(max-width: 300px) 100vw, 300px" />

Weekly Forex Update Last week, the forex market was dictated by dovish minutes of the Federal Reserve’s (Fed) and the European Central Bank’s July monetary policy meeting.

The greenback ended mixed against its key peers last week, after minutes of the Fed’s latest meeting indicated that the central bank could demur on additional interest rate hike this year. According to minutes, policymakers appeared divided over another interest rate increase this year as some members opposed further hikes until there was more concrete evidence that the recent softness in inflation is transitory. However, others argued that such a delay could cause an eventual overshooting in inflation.

On the macro front, advance retail sales in the US posted its sharpest increase in 7 months in July, suggesting that consumer spending was off to a good start in the third quarter. Moreover, confidence amongst Americans surged to a 7-month high in August. Further, the nation’s business inventories jumped to a 7-month high in June, while the NAHB housing market index recorded an unexpected rise in August. Additionally, the number of Americans filing for initial jobless claims dropped to a 6-month low in the week ended 12 August. Also, the nation’s industrial production climbed less-than-expected in July. On the contrary, manufacturing production recorded an unexpected drop in July.

The Euro ended the week lower against the USD, after minutes of the ECB’s July meeting revealed that policymakers expressed concerns over stubbornly low inflation. Further, officials remained wary over the strength in the Euro and warned that the recent surge in the currency could hamper the central bank’s efforts to get inflation to its target.

The Pound ended the week on a weaker footing against the USD, after annual inflation in Britain came in softer-then-expected in July. On the contrary, the nation’s ILO unemployment rate unexpectedly dropped in the three months to June, highlighting robust jobs market despite an overall slowdown in economic growth



Weekly Forex Update

 

EURUSD Forex Exchange Weekly Outlook

EURUSD

Last week, the EUR traded 0.51% lower against the USD and closed at 1.1761, after minutes of the ECB’s July meeting highlighted some nervousness among committee members about the strength in the Euro. On the macro front, second estimate of the Eurozone’s seasonally adjusted gross domestic product (GDP) advanced 0.6% on a quarterly basis in the second quarter of 2017, confirming the preliminary print. Further, the region’s final consumer price index (CPI) rose 1.3% on an annual basis in July, in line with the flash estimate, while seasonally adjusted trade surplus expanded more-than-anticipated in June. On the contrary, the region’s seasonally adjusted industrial production eased more-than-expected in June, while seasonally adjusted current account surplus sharply narrowed in the same month. Moreover, the region’s seasonally adjusted construction output declined in June. Separately, Germany’s seasonally adjusted GDP advanced less-than-expected by 0.6% on a quarterly basis in the second quarter of 2017. The EUR hit a high of 1.1838 and a low of 1.1662 against the USD in the previous week. The pair is expected to find its first support at 1.1669 and first resistance at 1.1845. The second support is expected at 1.1577 and second resistance at 1.1929. This week, investors will focus on the Markit manufacturing and services PMIs as well as the ZEW economic sentiment data across the Eurozone. Additionally, the Eurozone’s consumer confidence coupled with Germany’s Ifo expectations index, would also be keenly watched by traders.

 GBPUSD FOREX EXCHANGE Weekly Outlook August 21, 2017

GBPUSD

During the previous week, the GBP traded 1.11% lower against the USD and ended at 1.2870, following the release of weaker-than-expected inflation data in the UK. Data indicated that Britain’s consumer price index (CPI) climbed less-than-anticipated by 2.6% on an annual basis in July. Nevertheless, the nation’s retail sales topped market consensus in July. Moreover, the nation’s ILO unemployment rate unexpectedly dropped in the three months to June, while annual average earnings including bonus climbed above market expectations in the same period. The GBP hit a high of 1.3022 and a low of 1.2832 against the USD in the previous week. The pair is expected to find its first support at 1.2796 and first resistance at 1.2986. The second support is expected at 1.2719 and second resistance at 1.3099. Investors will keep a close watch on Britain’s 2Q GDP report, BBA mortgage approvals and public sector net borrowing data, all slated to release this week.

 USDJPY FOREX EXCHANGE Weekly Outlook

USDJPY

The USD traded marginally lower against the JPY last week, with the pair closing at 109.18. Macroeconomic data revealed that Japan’s preliminary GDP expanded higher-than-expected by 1.0% on a quarterly basis in the second quarter of 2017, while the nation’s final industrial production was revised higher in June. Additionally, the nation’s adjusted merchandise trade surplus widened more-than-anticipated in July. The pair traded at a high of 110.95 and a low of 108.60 during the previous week. Immediate downside, the first support level is seen at 108.22, followed by 107.24, while on the upside, the first resistance level situated in 110.57, followed by 111.94. This week, traders will focus on Japan’s national consumer price index and flash Nikkei manufacturing PMI data.

 USDCHF FOREX EXCHANGE Weekly Outlook

USDCHF

The USD traded 0.29% higher against the CHF last week, with the pair closing at 0.9646. On the data front, Switzerland’s producer and import price index remained flat on a monthly basis in July, at par with market expectations. The USD hit a high of 0.9766 and a low of 0.9586 against the CHF in the previous week. Immediate downside, the first support level is seen at 0.9567, followed by 0.9487, while on the upside, the first resistance level situated in 0.9747, followed by 0.9847. Going forward, Switzerland’s trade balance and industrial production data, set to release this week, will attract a lot of investor attention.

 USDCAD FX EXCHANGE Weekly Outlook August 21, 2017

USDCAD

During the previous week, the USD traded 0.73% lower against the CAD and ended at 1.2585. The Canadian dollar rose against the USD, after Canada’s consumer price index advanced 1.2% on an annual basis in July, meeting market expectations. Moreover, the nation’s Teranet/National Bank house price index climbed in July. On the other hand, existing home sales eased in July, while manufacturing shipments sharply fell in June. During the previous week, the pair traded at a high of 1.2778 and a low of 1.2557. The pair is expected to witness its first support at 1.2502 and second support at 1.2419, while the first resistance is expected at 1.2723 and second resistance at 1.2861. Looking ahead, traders will closely monitor Canada’s retail sales data, the sole important release this week.

 AUDUSD FX Exchange Weekly Outlook

AUDUSD

Last week, the AUD traded 0.44% higher against the USD and closed at 0.7929, on the back of hawkish minutes of the Reserve Bank of Australia’s (RBA) August meeting. Minutes indicated that officials expressed confidence that Australian economic growth is likely to pick up pace in the coming months. However, the central bank reiterated its view that the housing market as well as household debt warrants “careful monitoring” and that any further rise in the local currency could lead to slower growth and subdued inflation. Gains in Aussie were boosted further, after data showed that Australia’s seasonally adjusted unemployment rate fell to 5.6% in July, in line with market expectations. Also, the nation’s Westpac leading index rebounded in July. The AUD hit a high of 0.7963 and a low of 0.7808 against the USD in the previous week. The pair is expected to witness its first support at 0.7838 and second support at 0.7745, while the first resistance is expected at 0.7993 and second resistance at 0.8055. With no major economic releases in Australia this week, investor sentiment will be governed by global macroeconomic events.

 

Gold

Gold fell last week, closing 0.4% lower at USD1284.13 per ounce, as fading concerns of a possible war between the US and North Korea increased risk appetite among investors. Gold hit a high of USD1306.90 per ounce and a low of USD1272.70 per ounce during the previous week. The yellow metal is expected to witness its first support at USD1273.03 per ounce and second support at USD1255.77 per ounce, while the first resistance is expected at USD1307.23 per ounce and second resistance at USD1324.17 per ounce.

 CRUDE OIL FUTURES – WEEKLY OUTLOOK: AUGUST 21 – 25

 

Crude Oil

Crude oil traded 0.63% lower in the previous week, closing at USD48.51 per barrel, after the Energy Information Administration (EIA) reported that US crude production jumped by 79,000 barrels per day (bpd) to 9.502 million bpd in the week ended 11 August, hitting its highest level in over 2 years. However, losses in crude prices were limited, after the EIA reported that US crude oil stockpiles declined by 8.95 million barrels to 466.50 million barrels in the week ended 11 August, while the American Petroleum Institute (API) indicated a massive draw of 9.20 million barrels in the US crude oil inventories in the same week. The commodity hit a high of USD49.16 per barrel and a low of USD46.46 per barrel in the previous week. Immediate downside, the first support level is seen at USD47.07 per barrel, followed by USD45.42 per barrel, while on the upside, the first resistance level situated in USD49.77 per barrel, followed by USD50.82 per barrel.

 

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Currency Traders Week Ahead  In the US, inflation figures and JOLTs job openings will be in the spotlight.

FOREX INVESTORS BUZZ WORD MAJOR CURRENCY PAIRS 8.21.17

FOREX INVESTORS BUZZ WORD MAJOR CURRENCY PAIRS 8.21.17

CURRENCY TRADERS

MAJOR CURRENCY PAIRS 8.21.17 This morning, the greenback is trading higher against most of the major currencies,

MAJOR CURRENCY PAIRS 8.21.17 This morning, the greenback is trading higher against most of the major currencies, ahead of the Chicago Fed national activity index, slated to release in a few hours.

The EUR is trading lower against the USD. According to the Bundesbank monthly report, the German economy will probably maintain a healthy pace of growth in the current quarter, on the back of exceptionally strong industrial production, robust exports and high consumption.

The CAD lost ground against the USD. On Friday, data showed that Canada’s consumer price inflation advanced on an annual basis in July, meeting market expectations, suggesting that prices are pushing up after easing last month.

On Friday, the greenback traded mixed in the New York session against the key currencies, after the removal of Steve Bannon as White House chief strategist sparked a fresh wave of uncertainty and stoked doubts over the likelihood that the US President, Donald Trump’s pro-growth agenda would come to fruition.

Data showed that consumer confidence in the US sharply strengthened in August, pushing the index to its highest level in 7-months, as consumers remained upbeat about their financial prospects and future economic conditions.



MAJOR CURRENCY PAIRS 8.21.17

 EURUSD FOREX EXCHANGE OPENED LOWER Monday August 21

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1740 against the USD, 0.2% lower from the New York close. Moving ahead, investors will look forward to the ZEW economic sentiment data across the Eurozone, slated to release tomorrow. This morning, the pair traded at a high of 1.1764 and a low of 1.1731. The Euro traded 0.11% higher against the US Dollar in the New York session on Friday, with the pair closing the session at 1.1763. The pair is expected to its find support at 1.1724 and its first resistance at 1.1762.

 GBPUSD FOREX EXCHANGE OPENED HIGHER Monday August 21

GBPUSD

At 09:40 GMT, the pair is trading at 1.2878, with the Pound trading a tad lower against US Dollar from the New York close. Overnight data showed that Britain’s Rightmove house price index fell on a monthly basis in August. The pair witnessed a high of 1.2886 and a low of 1.2850 during the session. On Friday, the Pound traded a tad lower against the US Dollar in the New York session and ended at 1.2884. Immediate downside, the first support level is seen at 1.2841, while on the upside, the first resistance level is situated at 1.2907.

 USDJPY FOREX EXCHANGE ROSE AT OPEN Monday August 21

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 109.02 against the Yen, 0.18% lower from the New York close. Earlier today, data indicated that Japan’s all industry activity index rebounded on a monthly basis in June. During the session, the pair traded at a high of 109.42 and a low of 108.90. On Friday, the US Dollar traded 0.32% higher against the Yen in the New York session and ended at 109.22. The pair is expected to its find support at 108.55 and its first resistance at 109.55.

 USDCHF FOREX EXCHANGE OPENED HIGHER Monday August 21

USDCHF

The US Dollar is trading at 0.9674 against the Swiss Franc at 09:40 GMT this morning, 0.33% higher from the New York close. Going ahead, Switzerland’s trade balance data, scheduled to release tomorrow, will be on investors’ radar. The pair traded at a high of 0.9675 and a low of 0.9642 this morning. On Friday, the USD traded 0.35% higher against the CHF in the New York session and ended at 0.9642. The pair is expected to its find support at 0.9615 and its first resistance at 0.9704.

 USDCAD FOREX EXCHANGE OPENED HIGHER Monday August 21

USDCAD

The pair is trading at 1.2598 at 09:40 GMT this morning, with the USD trading 0.21% higher against CAD from the New York close. The pair traded at a high of 1.2607 and a low of 1.2571 this morning. The US Dollar declined against the Canadian Dollar in the New York session on Friday, closing 0.12% lower at 1.2572. The Canadian dollar rose against the USD, after Canada’s consumer price index advanced on an annual basis in July, meeting market expectations. The pair is expected to its find support at 1.2548 and its first resistance at 1.2658.

 AUDUSD FOREX EXCHANGE OPENED HIGHER Monday August 21

AUDUSD

The pair is trading at 0.7915 at 09:40 GMT this morning, with the Australian Dollar trading 0.19% lower against US Dollar from the New York close. Amid no economic releases in Australia today, investor sentiment will be determined by global macroeconomic events. This morning, the pair traded at a high of 0.7935 and a low of 0.7911. The Australian Dollar traded marginally higher against the US Dollar in the New York session on Friday, with the pair closing the session at 0.7930. The pair is expected to its find support at 0.7899 and its first resistance at 0.7938.

GOLD FUTURES PRICE OPENED DOWN Monday August 21

Gold

Gold is trading at $1293.40 per ounce at 09:40 GMT this morning, 0.24% higher from the New York close. This morning, the precious metal traded at a high of $1294.70 per ounce and a low of $1287.00 per ounce. On Friday, gold traded 0.94% lower in the New York session and closed at $1290.30 per ounce, reversing its previous session gains. Immediate downside, the first support level is seen at $1284.63 per ounce, while on the upside, the first resistance level is at $1304.53 per ounce.

 SILVER FUTURES PRICE OPENED HIGHER Monday August 21

Silver

The precious metal is trading at $17.02 per ounce at 09:40 GMT this morning, 0.38% higher from the New York close. During the session, silver traded at a high of $17.05 per ounce and a low of $16.90 per ounce. In the New York session on Friday, silver fell 1.6% and closed at $16.95 per ounce, tracking weakness in gold prices. Immediate downside, the first support level is seen at $16.83 per ounce, while on the upside, the first resistance level is at $17.26 per ounce.

 Crude Oil FUTURES PRICE OPENED HIGHER Monday August 21

Oil

The commodity is trading at $48.52 per barrel at 09:40 GMT this morning, 0.43% lower from the New York close. Crude oil witnessed a high of $48.74 per barrel and a low of $48.31 per barrel during the session. In the New York session on Friday, crude oil rose 3.37% to close at $48.73 per barrel, after news emerged that a unit of one of the largest oil refineries in the US has been shut down. Additionally, Baker Hughes disclosed that US crude oil rig count fell by 5 to 763 last week. Immediate downside, the first support level is seen at $47.29 per barrel, while on the upside, the first resistance level is at $49.25 per barrel.

 


Economic Snapshot

 

UK Rightmove house price index registered a drop in August

The Rightmove house price index in the UK dropped 0.90% in August on a monthly basis. In the previous month, the Rightmove house price index had risen 0.10%.

 

Japanese all industry activity index advanced as expected in June

On a MoM basis, the all industry activity index in Japan registered a rise of 0.40% in June, compared to a revised drop of 0.80% in the previous month. Market expectation was for the all industry activity index to rise 0.40%.




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Buz Investors EURUSD Marginally Higher A very light economic calendar and some easing political concerns are resulting in a modest gain in EUR/USD in today’s trading. The pair is currently at 1.0619, up 0.10% over Friday’s close.

EURUSD FOREX EXCHANGE OPENED LOWER Monday August 21

EURUSD FOREX EXCHANGE OPENED LOWER Monday August 21

EURUSD FOREX EXCHANGE decreased 0.0001 or 0.00% to 1.1756 on Monday August 21 from 1.1756 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.

Although the single currency edged higher and rose to as high as 1.1910 late last week, the subsequent retreat on Friday suggests minor top is formed there and consolidation below this level would be seen with initial downside bias for test of 1.1723-28 support, break there would add credence to this view, bring retracement of recent rise to 1.1660-70, then towards support at 1.1613, however, reckon downside would be limited to previous resistance at 1.1583 and price should stay well above support at 1.1479, bring another upmove later.



EURUSD FOREX EXCHANGE

Our preferred count on the daily chart remains that a wave (II) from 1.2329 ended at 1.5145 with A-leg ended at 1.4720, followed by wave B at 1.2457, the wave C from there was also a 3 legged move and is labeled as (a): 1.3739, (b): 1.2885, the wave iii of the 5-waver (c) from 1.2885 has ended at 1.4339 and wave iv is a triangle ended at 1.3878 and wave v formed a top at 1.5145. The decline from there is a 5-waver (C) with minor wave (i) of I of (C) ended at 1.4218 with wave (ii) ended at 1.4580, wave (iii) ended at 1.3267 and wave (iv) ended at 1.3692 and wave (v) ended at 1.1876, this is also the low of wave I of (C) and wave II ended at 1.4940, hence wave III is now in progress with a diagonal wave 1 ended at 1.2042, the breach of previous support at 1.1876 (wave I trough) adds credence to our view that the wave 2 has ended at 1.3993, wave 3 has commenced for further weakness to 1.0411, then towards 1.0000.




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major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)