TODAY’S FOREX BUZWORD MAJOR CURRENCY PAIR 3.23.17

TODAY’S FOREX BUZWORD MAJOR CURRENCY PAIR 3.23.17

A DAILY SOCIAL TRADING EVENT

Buz Investors MAJOR CURRENCY PAIR 3.23.17 This morning, the greenback is trading higher against most of the major currencies, ahead of US weekly jobless claims data

Buz Investors MAJOR CURRENCY PAIR 3.23.17 This morning, the greenback is trading higher against most of the major currencies, ahead of US weekly jobless claims data and a speech by the Federal Reserve Chair, Janet Yellen.

The EUR is trading lower against the USD, after Germany’s GfK consumer confidence index revealed that sentiment amongst German consumers unexpectedly eased to its lowest level in 5 months for April, weighed by concerns that rising inflation would bite into income expectations in the Eurozone’s largest economy. Meanwhile, the European Central Bank, in its economic bulletin report, stated that economic recovery in the Eurozone will continue to broaden, while the recent economic data indicates that the economy is on a stronger footing in the first quarter of 2017.

The GBP is trading higher against the USD, after UK’s retail sales rebounded stronger than expected on a monthly basis in February, signaling that the nation’s consumers remain resilient despite rising inflation and subdued wage growth.

Yesterday, the greenback traded lower in the New York session, against the key currencies. Macroeconomic data indicated that existing home sales in the US tumbled in February, after surging to its highest level in a decade in the preceding month, choked by tight inventory and rising home prices. Additionally, the nation’s house price index surprisingly remained flat in January. Further, the nation’s MBA mortgage applications fell last week.



 MAJOR CURRENCY PAIR 3.23.17

EURUSD decreased 0.0012 or 0.11%

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.0776 against the USD, 0.13% lower from the New York close, after data showed that Germany’s GfK consumer confidence index surprisingly dropped in April. This morning, the pair traded at a high of 1.0804 and a low of 1.0768. The Euro traded marginally lower against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0790. The pair is expected to its find support at 1.0754 and its first resistance at 1.0811.

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GBPUSD increased 0.0044 or 0.35%

GBPUSD

At 09:40 GMT, the pair is trading at 1.2511, with the Pound trading 0.27% higher against US Dollar from the New York close, after data indicated that Britain’s retail sales rose more than expected on a monthly basis in February. The pair witnessed a high of 1.2527 and a low of 1.2459 during the session. Yesterday, the Pound traded 0.18% higher against the US Dollar in the New York session and ended at 1.2477. Immediate downside, the first support level is seen at 1.2446, while on the upside, the first resistance level is situated at 1.2552.

 

yen strengthened against the dollar for the eighth consecutive day

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 111.04 against the Yen, 0.18% lower from the New York close. Moving ahead, traders will keep a close watch on Japan’s preliminary Nikkei manufacturing PMI, slated to release overnight. During the session, the pair traded at a high of 111.57 and a low of 110.99. Yesterday, the US Dollar traded slightly lower against the Yen in the New York session and ended at 111.24. The pair is expected to its find support at 110.64 and its first resistance at 111.50.

USDCHF increased 0.0013 or 0.13%

 

USDCHF

The US Dollar is trading at 0.9934 against the Swiss Franc at 09:40 GMT this morning, 0.18% higher from the New York close. With no major economic releases in Switzerland today, investor sentiment will be governed by global macroeconomic factors. The pair traded at a high of 0.9941 and a low of 0.9910 this morning. Yesterday, the USD traded 0.12% lower against the CHF in the New York session and ended at 0.9916. The pair is expected to its find support at 0.9895 and its first resistance at 0.9957.

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USDCAD increased 0.0001 or 0.00%

USDCAD

The pair is trading at 1.3351 at 09:40 GMT this morning, with the USD trading 0.14% higher against CAD from the New York close. The pair traded at a high of 1.3355 and a low of 1.3313 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 0.36% lower at 1.3332. The pair is expected to its find support at 1.3308 and its first resistance at 1.3399.

 

AUDUSD decreased 0.0033 or 0.42%

AUDUSD

The pair is trading at 0.7627 at 09:40 GMT this morning, with the Australian Dollar trading 0.59% lower against US Dollar from the New York close. Amid a lack of economic releases in Australia today, trading trends in the AUD are expected to be determined by global macroeconomic events. This morning, the pair traded at a high of 0.7677 and a low of 0.7622. The Australian Dollar traded a tad higher against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7672. The pair is expected to its find support at 0.7605 and its first resistance at 0.7667.

 

Gold increased 3.20 USD/t oz. or 0.26%

Gold

Gold is trading at $1249.40 per ounce at 09:40 GMhttp://investorsbuz.com/2017/03/23/buz-investors-silver-increased-0-17/T this morning, 0.14% lower from the New York close. This morning, the precious metal traded at a high of $1251.90 per ounce and a low of $1247.40 per ounce. Yesterday, gold traded marginally higher in the New York session and closed at $1251.20 per ounce, amid weakness in the greenback. Immediate downside, the first support level is seen at $1246.33 per ounce, while on the upside, the first resistance level is at $1253.53 per ounce.

 

Silver increased 0.17 USD/t. oz or 0.95%

Silver

The precious metal is trading at $17.56 per ounce at 09:40 GMT this morning, 0.09% higher from the New York close. During the session, silver traded at a high of $17.59 per ounce and a low of $17.53 per ounce. In the New York session yesterday, silver fell 0.06% and closed at $17.55 per ounce. Immediate downside, the first support level is seen at $17.48 per ounce, while on the upside, the first resistance level is at $17.62 per ounce.

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Crude Oil decreased 0.02 USD/BBL or 0.04%

Oil

The commodity is trading at $48.33 per barrel at 09:40 GMT this morning, 0.29% higher from the New York close. Crude oil witnessed a high of $48.44 per barrel and a low of $48.12 per barrel during the session. In the New York session yesterday, crude oil rose 1.2% to close at $48.19 per barrel. However, gains in crude prices were kept in check, after the EIA disclosed that US crude oil stockpiles advanced by 4.95 million barrels to a record high level of 533.1 million barrels last week. Immediate downside, the first support level is seen at $47.41 per barrel, while on the upside, the first resistance level is at $48.84 per barrel.

 




Economic Snapshot

 

UK retail sales rose more than expected in February

Retail sales in the UK advanced 1.40% in February on a monthly basis, more than market expectations for a rise of 0.40%. In the prior month, retail sales had dropped by a revised 0.50%.

 

German consumer confidence index unexpectedly dropped in April

The consumer confidence index in Germany surprisingly fell to a level of 9.80 in April, compared to a level of 10.00 in the previous month. Markets were anticipating the consumer confidence index to record a flat reading.


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




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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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