USD Dollar (USD)
The Dollar fell against most of its counterparts after better than expected GDP increased investor\’s appetite for risk. The Gross Domestic Product was released at 3.5% vs. the 3.1% expected. Initial Jobless Claims came out slightly worse than expected at 530K. After 4 straight days of drops Wall Street headed for a steep rise after the GDP showed that the U.S. economy expanded at a 3.5% annual pace in the 3Q and fueled stocks. Dow Jones jumped by 2.05% to 9,963 and the NASDAQ rose by 1.84%. Crude oil jumped by 3.19% closing at 79.93$ a barrel as the surprising US economy expansion signaled for a potential increase in oil demand. Gold (XAU) trades at $1,047. Today, Personal Spending is expected at -0.4% vs. 1.3% previously and Employment Cost Index is expected unchanged at 0.4%.
EURO (EUR)
The Euro continued towards its fourth monthly rise against the Dollar as the U.S.’s return to growth renewed optimism a global recovery will quicken, aiding demand for higher-yielding assets. German Unemployment Change came out better than expected at -26K vs. expected 15K. European markets rose more than 1%. Commodities recovered from previous losses and posted important gains. Overall, EUR/USD traded with a low of 1.4682 and with a high of 1.4857. Today, European CPI Index is expected at -0.1% vs. -0.3% previously.
EUR/USD – Last: 1.4830
|
Resistance |
1.4880 |
1.4925 |
1.4970 |
|
Support |
1.4770 |
1.4720 |
1.4680 |
British Pound (GBP)
The Pound climbed against the Dollar for a fourth day after reports showed U.K. mortgage approvals increased more than forecast last month and the U.S. returned to growth in the third quarter. Overall, GBP/USD traded with a low of 1.6337 and with a high of 1.6602. Today, Nationwide Housing Price Index is expected at 0.7% vs. 0.9% previously.
GBP/USD – Last: 1.6560
|
Resistance |
1.6640 |
1.6700 |
1.6765 |
|
Support |
1.6475 |
1.6410 |
1.6350 |
Japanese Yen (JPY)
The Japanese currency fell during the European session and continued its plunge after the release of a government report that showed Japan’s jobless rate unexpectedly dropped for a second month, reducing demand for the relative safety of the Japanese currency. Overall, USD/JPY traded with a low of 90.24 and with a high of 91.60. Today, The Bank of Japan (BOJ) Press Conference is expected. The interest rate is expected unchanged at 0.1%.
USD/JPY-Last: 91.30
|
Resistance |
91.80 |
92.20 |
92.30 |
|
Support |
91.05 |
90.83 |
90.50 |
Canadian dollar (CAD)
The Canadian Dollar climbed from a 3 week low against the Dollar as stocks and commodities rallied after the US GDP report showed the American economy grew in the third quarter for the first time in a year. Overall, USD/CAD traded with a low of 1.0654 and with a high of 1.0820. Today, Canada\’s The Gross Domestic Product (GDP) is expected at 0.1% vs. 0% previously.
USD/CAD – Last: 1.0670
|
Resistance |
1.0750 |
1.0820 |
1.0865 |
|
Support |
1.0630 |
1.0585 |
1.0545 |
Research by http://www.ufxbank.com
