TODAY’S FOREX BUZWORD MAJOR CURRENCY PAIRS 12.23.16

TODAY’S FOREX BUZWORD MAJOR CURRENCY PAIRS 12.23.16

A DAILY SOCIAL TRADING EVENT

Buz Investors MAJOR CURRENCY PAIRS 12.23.16 This morning, the greenback is trading mostly lower against most of the major currencies, ahead of the US final Michigan

Buz Investors MAJOR CURRENCY PAIRS 12.23.16 This morning, the greenback is trading mostly lower against most of the major currencies, ahead of the US final Michigan consumer confidence index and new home sales, both scheduled to release in a few hours.

The EUR is trading higher against the USD, after Germany’s GfK consumer confidence edged higher for January.

The GBP is trading lower against the USD. In economic news, final gross domestic product (GDP) data indicated that the UK economy performed better than initially estimated on a quarterly basis in the third quarter, suggesting that the economy is showing strong resilience to the Brexit vote so far.

Yesterday, the greenback traded mostly higher in the New York session, against the key currencies, after the final reading of annualized GDP revealed that the US economy grew faster than initially expected on a quarterly basis in the third quarter, driven by stronger consumer spending and marking its strongest growth rate in two years. Also, house price index increased less than anticipated in October. Moreover, the nation’s personal spending came in softer than expected in November, suggesting economic growth slowed in the fourth quarter, while personal income remained flat in November.

On the other hand, the nation’s flash durable goods orders dropped for the first time in five months in November, dragged by a sharp drop in commercial aircraft. Moreover, initial jobless claims jumped to a six six-month high last week. Further, the CB leading indicator surprisingly remained flat in November.

MAJOR CURRENCY PAIRS 12.23.16 

 




EURUSD

This morning at 10:40 GMT, the EUR is trading at 1.0453 against the USD, 0.19% higher from the New York close, after Germany’s GfK consumer confidence index advanced in January. This morning, the pair traded at a high of 1.0464 and a low of 1.0428. The Euro traded 0.06% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0433. The pair is expected to its find support at 1.0420 and its first resistance at 1.0492.

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GBPUSD

At 10:40 GMT, the pair is trading at 1.2261, with the Pound trading 0.17% lower against US Dollar from the New York close. On the economic front, UK’s final GDP was surprisingly revised upwards to 0.6% on a quarterly basis in the third quarter. The pair witnessed a high of 1.2298 and a low of 1.2243 during the session. Yesterday, the Pound traded 0.48% lower against the US Dollar in the New York session and ended at 1.2282. Immediate downside, the first support level is seen at 1.2218, while on the upside, the first resistance level is situated at 1.2328.

USDJPY Yen Quiet in Holiday Trade

 

USDJPY

This morning, at 10:40 GMT, the US Dollar is trading at 117.37 against the Yen, 0.12% lower from the New York close. During the session, the pair traded at a high of 117.63 and a low of 117.25. Yesterday, the US Dollar traded 0.13% lower against the Yen in the New York session and ended at 117.51. The pair is expected to its find support at 117.11 and its first resistance at 117.75.

USDCHF Little Changed in Today’s Session

 

USDCHF

The US Dollar is trading at 1.0251 against the Swiss Franc at 10:40 GMT this morning, a tad lower from the New York close. Earlier in the session, Switzerland’s KOF leading indicator unexpectedly remained steady in December. The pair traded at a high of 1.0270 and a low of 1.0241 this morning. Yesterday, the USD traded 0.07% higher against the CHF in the New York session and ended at 1.0255. The pair is expected to its find support at 1.0220 and its first resistance at 1.0276.

 

USDCAD Canadian Dollar in Holding Pattern Ahead of GDP

USDCAD

The pair is trading at 1.3482 at 10:40 GMT this morning, with the USD trading marginally higher against CAD from the New York close. Ahead in the day, investors will focus on the release of Canada’s GDP figures, to get better insights into the Canadian economy. The pair traded at a high of 1.3501 and a low of 1.3475 this morning. The US Dollar advanced against the Canadian Dollar in the New York session yesterday, closing marginally higher at 1.3482. On the economic front, Canada’s consumer prices rose less than expected on a yearly basis in November. The pair is expected to its find support at 1.3447 and its first resistance at 1.3519.

READ  Switzerland Stock Market SMI Early Peek Wednesday June 28

 

AUDUSD plunges below 0.7200 to hit fresh multi-month lows

AUDUSD

The pair is trading at 0.7213 at 10:40 GMT this morning, with the Australian Dollar trading slightly lower against US Dollar from the New York close. With no economic releases in Australia today, investor sentiment will be governed by global macroeconomic event. This morning, the pair traded at a high of 0.7227 and a low of 0.7192. The Australian Dollar traded marginally higher against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7214. The pair is expected to its find support at 0.7193 and its first resistance at 0.7231.

 

Gold’s gains firm, but still headed for 7th straight weekly drop

Gold

Gold is trading at $1132.10 per ounce at 10:40 GMT this morning, 0.19% higher from the New York close. This morning, the precious metal traded at a high of $1133.60 per ounce and a low of $1129.50 per ounce. Yesterday, gold traded 0.14% lower in the New York session and closed at $1130.00 per ounce, extending its previous session losses. Immediate downside, the first support level is seen at $1128.63 per ounce, while on the upside, the first resistance level is at $1135.53 per ounce.

 

Silver Prices Struggle Near Eight-Month Low

Silver

The precious metal is trading at $15.85 per ounce at 10:40 GMT this morning, 0.13% higher from the New York close. During the session, silver traded at a high of $15.90 per ounce and a low of $15.82 per ounce. In the New York session yesterday, silver fell 0.28% and closed at $15.83 per ounce. Immediate downside, the first support level is seen at $15.75 per ounce, while on the upside, the first resistance level is at $16.02 per ounce.

READ  German economic sentiment index climbed in May

 

US crude settles at $52.95, up 46 cents, on US economic data

Crude Oil

The commodity is trading at $52.61 per barrel at 10:40 GMT this morning, 0.08% lower from the New York close. Crude oil witnessed a high of $52.78 per barrel and a low of $52.41 per barrel during the session. In the New York session yesterday, crude oil rose 1.0% to close at $52.65 per barrel, reversing its previous session losses. Immediate downside, the first support level is seen at $52.06 per barrel, while on the upside, the first resistance level is at $53.17 per barrel.

MAJOR CURRENCY PAIRS 12.23.16 

Economic Snapshot

 

UK GDP rose more than expected in 3Q 2016

In 3Q 2016, on a QoQ basis, the final gross domestic product (GDP) in the UK climbed 0.60%, compared to a rise of 0.70% in the prior quarter. Market expectation was for GDP to advance 0.50%. The preliminary figures had recorded an advance of 0.50%.

 

UK current account deficit widened in 3Q 2016

Current account deficit in the UK widened to £25.50 billion in 3Q 2016, compared to a revised current account deficit of £22.10 billion in the prior quarter. Markets were expecting the nation to post a current account deficit of £28.20 billion.

 

German consumer confidence index advanced in January

In January, the consumer confidence index in Germany recorded a rise to 9.90, compared to a level of 9.80 in the previous month. Market expectation was for the consumer confidence index to advance to a level of 9.90.

  

Chinese MNI business sentiment index climbed in December

Compared to a level of 53.10 in the prior month the MNI business sentiment index rose to a level of 55.90 in China, in December.




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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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