FOREX INVESTORS BUZZ WORD MAJOR CURRENCY PAIRS 8.17.17

FOREX INVESTORS BUZZ WORD MAJOR CURRENCY PAIRS 8.17.17

CURRENCY TRADERS

MAJOR CURRENCY PAIRS 8.17.17 This morning, the greenback is trading mostly higher against most of the major currencies, ahead of the US initial jobless claims,

MAJOR CURRENCY PAIRS 8.17.17 This morning, the greenback is trading mostly higher against most of the major currencies, ahead of the US initial jobless claims, leading indicators, industrial as well as manufacturing production data, slated to release in a few hours.

The EUR is trading lower against the USD. Data indicated that the Eurozone’s annual consumer inflation advanced in July, confirming the preliminary print.

The GBP is trading lower against the USD. Macroeconomic data showed that British retail sales grew more-than-expected in July, although showed slower growth compared with the June reading, suggesting fears regarding a slump in consumer spending may be overblown.

Yesterday, the greenback traded lower in the New York session, against the key currencies, after the US President, Donald Trump, terminated two high-profile advisory councils following resignation of several CEOs in response to his comments blaming weekend violence. The US Dollar declined further, after minutes of the Federal Reserve’s July meeting disclosed that policymakers were split over the timing of the next interest rate hike, as some observed that the central bank could afford to be patient on raising rates further until it was sure that the recent softness in inflation is transitory, while others cautioned that a delay could result in an overshooting in inflation, given a tightening labor market.

On the macro front, housing starts in the US surprisingly dipped in July, amid a slowdown in apartment construction, while building permits sharply eased in the same month.




 

MAJOR CURRENCY PAIRS 8.17.17

 EURUSD Forex Exchange Opened Lower Thursday August 17

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1728 against the USD, 0.39% lower from the New York close. On the economic front, the Eurozone’s seasonally adjusted trade surplus widened more-than-expected in June. This morning, the pair traded at a high of 1.1790 and a low of 1.1723. The Euro traded 0.61% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1774. The pair is expected to its find support at 1.1677 and its first resistance at 1.1785.

READ  USDCHF FOREX Price Trade Opened Lower Friday August 4

 GBPUSD Forex Exchange Opened Higher Thursday August 17

GBPUSD

At 09:40 GMT, the pair is trading at 1.2889, with the Pound trading marginally lower against US Dollar from the New York close. Earlier in the session, data showed that Britain’s retail sales rose above market expectations on a monthly basis in July. The pair witnessed a high of 1.2909 and a low of 1.2877 during the session. Yesterday, the Pound traded 0.21% higher against the US Dollar in the New York session and ended at 1.2890. Immediate downside, the first support level is seen at 1.2852, while on the upside, the first resistance level is situated at 1.2918.

 USDJPY Forex Exchange Opened Lower Wednesday August 16

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 110.03 against the Yen, 0.08% lower from the New York close. Overnight data indicated that Japan’s adjusted merchandise trade surplus widened more-than-anticipated in July. During the session, the pair traded at a high of 110.16 and a low of 109.67. Yesterday, the US Dollar traded 0.62% lower against the Yen in the New York session and ended at 110.12. The pair is expected to its find support at 109.48 and its first resistance at 110.76.

 USDCHF Forex Exchange Opened Lower Thursday August 17

USDCHF

The US Dollar is trading at 0.9662 against the Swiss Franc at 09:40 GMT this morning, 0.07% higher from the New York close. With no economic releases in Switzerland today, investor sentiment will be governed by global macroeconomic news. The pair traded at a high of 0.9673 and a low of 0.9624 this morning. Yesterday, the USD traded 1.04% lower against the CHF in the New York session and ended at 0.9655. The pair is expected to its find support at 0.9602 and its first resistance at 0.9744.

 USDCAD Forex Exchange Opened Lower Wednesday August 16

USDCAD

The pair is trading at 1.2638 at 09:40 GMT this morning, with the USD trading 0.13% higher against CAD from the New York close. Looking ahead, market participants will focus on Canada’s manufacturing shipments data, scheduled to release in a few hours. The pair traded at a high of 1.2640 and a low of 1.2589 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing 0.86% lower at 1.2621. The pair is expected to its find support at 1.2571 and its first resistance at 1.2722.

READ  Eurozone consumer confidence index rose in October index rose in October

 AUDUSD Forex Exchange Opened Thursday August 17

AUDUSD

The pair is trading at 0.7935 at 09:40 GMT this morning, with the Australian Dollar trading a tad higher against US Dollar from the New York close, after data revealed that Australia’s seasonally adjusted unemployment rate fell in July, meeting market expectations. This morning, the pair traded at a high of 0.7963 and a low of 0.7923. The Australian Dollar traded 1.01% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7931. The pair is expected to its find support at 0.7870 and its first resistance at 0.7982.

Gold Future Prices Opened Higher Thursday August 17

Gold

Gold is trading at $1292.00 per ounce at 09:40 GMT this morning, 0.2% higher from the New York close. This morning, the precious metal traded at a high of $1296.00 per ounce and a low of $1288.20 per ounce. Yesterday, gold traded 1.15% higher in the New York session and closed at $1289.40 per ounce, amid a broad weakness in the greenback, after the latest FOMC meeting minutes clouded possibilities of another interest rate hike this year. Immediate downside, the first support level is seen at $1278.13 per ounce, while on the upside, the first resistance level is at $1300.93 per ounce.

 Silver Future Prices Opened Higher Thursday August 17

Silver

The precious metal is trading at $17.07 per ounce at 09:40 GMT this morning, 0.26% lower from the New York close. During the session, silver traded at a high of $17.18 per ounce and a low of $17.05 per ounce. In the New York session yesterday, silver rose 2.73% and closed at $17.12 per ounce, tracking gains in gold prices. Immediate downside, the first support level is seen at $16.75 per ounce, while on the upside, the first resistance level is at $17.29 per ounce.

READ  Australian Dollar Forex Exchange Price Closed lower Friday August 4

 Crude Oil Future Price Opened higher Thursday August 17

Oil

The commodity is trading at $46.64 per barrel at 09:40 GMT this morning, 0.36% lower from the New York close. Crude oil witnessed a high of $46.95 per barrel and a low of $46.56 per barrel during the session. In the New York session yesterday, crude oil fell 1.49% to close at $46.81 per barrel, after the EIA reported that weekly crude oil production in US surged to its highest since 2015 last week. However, losses in crude prices were capped, after the EIA showed that US crude oil inventories dropped by 8.95 million barrels to 466.50 million barrels last week. Immediate downside, the first support level is seen at $46.14 per barrel, while on the upside, the first resistance level is at $47.57 per barrel.

 

Economic Snapshot

 

UK retail sales rose more-than-expected in July

In July, on a monthly basis, retail sales climbed 0.30% in the UK, higher than market expectations for an advance of 0.20%. Retail sales had registered a revised similar rise in the previous month.

 

Japanese imports grew less-than-expected in July

On a YoY basis, imports climbed 16.30% in July, in Japan, less than market expectations for an advance of 17.10%. Imports had risen 15.50% in the prior month.

 

Australian unemployment rate fell in July

Australia’s seasonally adjusted unemployment rate fell to a level of 5.60% in July, in line with market expectations. Unemployment rate had registered a revised level of 5.70% in the preceding month.

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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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