DAILY CURRENCIES ANALYSIS OCT-15-2013 EUR/USD This morning at 09:40 GMT, the EUR is trading at 1.3507 against the USD, 0.36% lower from the New York close, despite an optimistic ZEW economic sentiment reading in Germany for October, standing at the highest level since April 2010. Also, the ZEW economic sentiment in the Euro-area rose for the same period, though less than market expectations. Yesterday, the European Union Economic and Monetary Affairs Commissioner, Olli Rehn indicated that Ireland and Spain will soon be weaned off aid, while Greece will pay its bills, declaring a tentative victory for the Euro-bloc. During the session, the pair traded at a high of 1.3572 and a low of 1.3498. Yesterday, the EUR traded 0.23% lower against the USD in the New York session, and closed at 1.3556. The pair is expected to find its first support at 1.3471 and first resistance at 1.3571. GBP/USD At 09:40 GMT, the GBP is trading at 1.5938 against the USD, 0.26% lower from the New York close, after the Office for National Statistics reported that annual consumer price inflation was unchanged at 2.7% from August, confounding economists forecasts for a slight tick-down to 2.6%. Traders would now shift their focus on the nation’s employment data to be released later tomorrow. During the session, the pair traded at a high of 1.6012 and a low of 1.5930. Yesterday, the British Pound traded 0.14% lower versus the Dollar in the New York session, and closed at 1.5980. The pair is expected to find its first support at 1.5906 and first resistance at 1.5995. USD/JPY The USD is trading at 98.64 against the JPY at 09:40 GMT this morning, marginally lower from the New York close. The JPY lost ground after a report revealed that Japan’s industrial output for August was revised downwards from its preliminary estimate. During the session, the pair traded at a high of 98.72 and a low of 98.36. In the New York session yesterday, the USD traded 0.56% higher against the JPY, and closed at 98.68. The pair is expected to find its first support at 98.25 and first resistance at 98.88. USD/CHF This morning at 09:40 GMT, the USD is trading at 0.9152 against the Swiss Franc, 0.49% higher from the New York close, ahead of the Swiss economic sentiment data to be released later tomorrow. In the absence of any major economic release in Switzerland, the pair would eye the measures taken by the US Senate to avert the unprecedented default. During the session, the pair traded at a high of 0.9160 and a low of 0.9091. In the New York session yesterday, the USD traded 0.39% higher against the CHF, and closed at 0.9107. The pair is expected to find its first support at 0.9090 and first resistance at 0.9187. USD/CAD At 09:40 GMT, the USD is trading at 1.0357 against the CAD, slightly higher from the New York close. With no domestic releases in store today in Canada, the pair is likely to be influenced by the outcome of the last minute negotiations in the US that will determine risk appetite going forward today. During the session, the pair traded at a high of 1.0360 and a low of 1.0329. Yesterday, the USD traded tad higher against the CAD in the New York session, and closed at 1.0355. The pair is expected to find its first support at 1.0337 and first resistance at 1.0368. AUD/USD The AUD is trading at 0.9529 against the USD, at 09:40 GMT this morning, 0.45% higher from the New York close, as the minutes of the Reserve Bank of Australia’s latest policy meeting revealed that the policymakers saw no requirement to ease the Aussie further. During the session, the pair traded at a high of 0.9549 and a low of 0.9477. AUD traded 0.09% higher against the USD in the New York session, and closed at 0.9486. The pair is expected to find its first support at 0.9479 and first resistance at 0.9564.
Posted on: Tue, 15 Oct 2013 15:13:45 +0000
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