CURRENCIES ANALYSIS Sept-04-2013 EUR/USD This morning at 09:40 GMT, the EUR is trading at 1.3177 against the USD, 0.06% higher from the New York close, after economic output in the Euro-area advanced 0.3% (QoQ) in the second quarter, while retail sales in the bloc ticked up in July, albeit missing estimates. Meanwhile, a mixed bag of services PMIs across the Euro zone capped the gains. Investors now awaits interest rate policy decision of the ECB where it is expected to keep its key interest rates unchanged and might provide further guidance over its monetary stance. During the session, the pair traded at a high of 1.3181 and a low of 1.3156. Yesterday, EUR traded 0.05% lower against the USD in the New York session, and closed at 1.3169. The pair is expected to find its first support at 1.3147 and first resistance at 1.3197. GBP/USD At 09:40 GMT, the GBP is trading at 1.5606 against the USD, 0.28% higher from the New York close, as the British services PMI data advanced to a reading of 60.5 in August, higher than the previous level and above market expectations. Markets would closely monitor the interest rate decision and asset purchase facility due tomorrow to place their bets for the Sterling. During the session, the pair traded at a high of 1.5613 and a low of 1.5555. Yesterday, GBP traded 0.05% higher against the USD in the New York session, and closed at 1.5562. The pair is expected to find its first support at 1.5546 and first resistance at 1.5639. USD/JPY The USD is trading at 99.60 against the JPY at 09:40 GMT this morning, marginally higher from the New York close. During the session, the pair traded at a high of 99.82 and a low of 99.42. In the New York session yesterday, the USD traded flat against the JPY, and closed at 99.56. The pair is expected to find its first support at 99.26 and first resistance at 99.91. USD/CHF This morning at 09:40 GMT, the USD is trading at 0.9363 against the Swiss Franc, marginally lower from the New York close. During the session, the pair traded at a high of 0.9384 and a low of 0.9356. In the New York session yesterday, the USD traded 0.12% higher against the CHF, and closed at 0.9366, after data showed that the US manufacturing activity grew at its fastest pace in more than two years in August, bolstering speculation that the US Federal Reserve could soon start trimming its stimulus measures. The pair is expected to find its first support at 0.9344 and first resistance at 0.9383. USD/CAD At 09:40 GMT, the USD is trading at 1.0517 against the CAD, 0.19% lower from the New York close, ahead of the Bank of Canada’s interest decision and trade balance data to be released later today. During the session, the pair traded at a high of 1.0544 and a low of 1.0508. Yesterday, the USD traded 0.23% higher against the CAD in the New York session, and closed at 1.0537. The pair is expected to find its first support at 1.0500 and first resistance at 1.0542. AUD/USD The AUD is trading at 0.9143 against the USD, at 09:40 GMT this morning, 0.96% higher from the New York close, after the Australia’s gross domestic product rose 2.6% in the second quarter, amid recovery in the housing sector and as the weaker currency eased pressure on the economy. During the session, the pair traded at a high of 0.9153 and a low of 0.9038. AUD traded 0.25% higher against the USD in the New York session yesterday, and closed at 0.9056. The pair is expected to find its first support at 0.9058 and first resistance at 0.9191.
Posted on: Wed, 04 Sep 2013 13:58:42 +0000
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