CURRENCIES ANALYSIS Sept-06-2013 EUR/USD This morning at 09:40 GMT, the EUR is trading at 1.3121 against the USD, slightly higher from the New York close. Trade surplus in Germany narrowed unexpectedly in July, while the current account surplus narrowed to € 14.3 billion in July, just beating market expectations. During the session, the pair traded at a high of 1.3139 and a low of 1.3116. Yesterday, EUR traded 0.27% lower against the USD in the New York session, and closed at 1.3119, as the European Central Bank indicated to maintain its key lending rates at a record low for a prolonged period of time. The pair is expected to find its first support at 1.3079 and first resistance at 1.3190. GBP/USD At 09:40 GMT, the GBP is trading at 1.5588 against the USD, tad lower from the New York close, after UK’s trade deficit expanded significantly in July. Also, the manufacturing and industrial production in July fell short of market expectations. During the session, the pair traded at a high of 1.5616 and a low of 1.5567. Yesterday, GBP traded 0.26% lower against the USD in the New York session, and closed at 1.5590, after the Bank of England kept its key lending rates and asset purchase facility unchanged. The pair is expected to find its first support at 1.5547 and first resistance at 1.5649. USD/JPY The USD is trading at 99.58 against the JPY at 09:40 GMT this morning, 0.58% lower from the New York close, as the Bank of Japan raised its economic outlook in its latest monthly survey. During the session, the pair traded at a high of 100.24 and a low of 99.50. In the New York session yesterday, the USD traded 0.34% higher against the JPY, and closed at 100.16. The pair is expected to find its first support at 99.31 and first resistance at 100.05. USD/CHF This morning at 09:40 GMT, the USD is trading at 0.9442 against the Swiss Franc, 0.10% lower from the New York close. Annual consumer price index in Switzerland remained flat in August, whereas, the industrial production dropped 1.1% in the second quarter. During the session, the pair traded at a high of 0.9454 and a low of 0.9431. In the New York session yesterday, the USD traded 0.50% higher against the CHF, and closed at 0.9451. The pair is expected to find its first support at 0.9382 and first resistance at 0.9479. USD/CAD At 09:40 GMT, the USD is trading at 1.0458 against the CAD, 0.44% lower from the New York close, ahead of Canadian unemployment rate to be released later today. During the session, the pair traded at a high of 1.0507 and a low of 1.0450. Yesterday, the USD traded 0.21% higher against the CAD in the New York session, and closed at 1.0505, after the weekly initial jobless claims and August non manufacturing PMI showed positive readings. The pair is expected to find its first support at 1.0433 and first resistance at 1.0501. AUD/USD The AUD is trading at 0.9148 against the USD, at 09:40 GMT this morning, 0.19% higher from the New York close. During the session, the pair traded at a high of 0.9153 and a low of 0.9115. AUD traded 0.16% lower against the USD in the New York session yesterday, and closed at 0.9131. The pair is expected to find its first support at 0.9122 and first resistance at 0.9165.
Posted on: Fri, 06 Sep 2013 16:55:06 +0000
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