DAILY FUNDAMENTAL & TECHNICAL ANALYSIS CURRENCIES,COMMODITIES & METALS Nov-04-2013 EUR USD This morning at 10:40 GMT, the EUR is trading at 1.3507 against the USD, 0.11% higher from the New York close, after the final manufacturing PMI’s in the Euro-zone and Germany for October confirmed that the region is on its way to recovery. Also, the Sentix Investor Confidence in the Euro-zone unexpectedly rose to 9.3 in October, as against market expectations of a reading of 6.0. During the session, the pair traded at a high of 1.3514 and a low of 1.3441. On Friday, the EUR traded 0.15% lower against the USD in the New York session, and closed at 1.3492. The pair is expected to find its first support at 1.3450 and first resistance at 1.3550. GBP USD At 10:40 GMT, the GBP is trading at 1.5963 against the USD, 0.23% higher from the New York close, after the UK’s construction PMI surpassed market expectations in October. During the session, the pair traded at a high of 1.5968 and a low of 1.5903. On Friday, the British Pound traded 0.24% lower versus the Dollar in the New York session, and closed at 1.5927, following the release of lower than expected manufacturing PMI in the UK for the month of October. The pair is expected to find its first support at 1.5908 and first resistance at 1.6014. USD JPY The USD is trading at 98.71 against the JPY at 10:40 GMT this morning, 0.05% lower from the New York close, ahead of the Bank of Japan’s Governor, Haruhiko Kuroda’s speech scheduled tomorrow. Markets in Japan were closed today on account of a holiday. During the session, the pair traded at a high of 98.86 and a low of 98.58. In the New York session on Friday, the USD traded 0.40% higher against the JPY, and closed at 98.76. The pair is expected to find its first support at 98.34 and first resistance at 98.97. USD CHF This morning at 10:40 GMT, the USD is trading at 0.9120 against the Swiss Franc, 0.07% lower from the New York close. In absence of any major macroeconomic release scheduled for today, the pair would hunt global macroeconomic trends for a direction. During the session, the pair traded at a high of 0.9155 and a low of 0.9113. In the New York session on Friday, the USD traded 0.18% higher against the CHF, and closed at 0.9126. The pair is expected to find its first support at 0.9084 and first resistance at 0.9156. USD CAD At 10:40 GMT, the USD is trading at 1.0411 against the CAD, 0.17% lower from the New York close. During the session, the pair traded at a high of 1.0430 and a low of 1.0404. On Friday, the USD traded marginally higher against the CAD in the New York session, and closed at 1.0429. The pair is expected to find its first support at 1.0392 and first resistance at 1.0443. AUD USD The AUD is trading at 0.9495 against the USD, at 10:40 GMT this morning, 0.60% higher from the New York close, after a report revealed that Australian retail sales rose more than market expectations in September. Reserve Bank of Australia’s interest rate decision scheduled tomorrow would be closely tracked, with market players expecting the RBA to maintain its rate at 2.5%. During the session, the pair traded at a high of 0.9505 and a low of 0.9462. AUD traded 0.35% lower against the USD in the New York session, and closed at 0.9438. The pair is expected to find its first support at 0.9442 and first resistance at 0.9526. Gold At 10:40 GMT, Gold is trading at $1314.31 per ounce, 0.14% lower from the New York close. However, the losses were limited as reports that mineworkers in South Africa went on to a strike over the weekend fuelled the supply concerns of the yellow metal. This morning, Gold traded at a high of $1316.15 and a low of $1311.17 per ounce. In the New York session on Friday, the yellow metal traded 0.10% higher, and closed at $1316.20. Gold has its first support at $1307.43 and first resistance at $1321.75. Silver Silver is trading at $21.71 per ounce, 0.77% lower from the New York close, at 10:40 GMT this morning. This morning, Silver traded at a high of $21.90 and a low of $21.61. Silver traded modestly lower against the USD in the New York session, and closed at $21.88. Silver has its first support at $21.56 and first resistance at $21.91. Crude Oil At 10:40 GMT, Oil is trading at $94.71 per barrel, 0.10% higher from the New York close, as investors await the weekly inventory data from the American Petroleum Institute and Energy Information Administration. This morning, Oil traded at a high of $94.92 and a low of $94.45. On Friday, Oil traded 1.11% lower in the New York session, and closed at $94.61. It has its first support at $93.93 and first resistance at $95.91.
Posted on: Mon, 04 Nov 2013 13:36:30 +0000
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