Euro traded at its 2-week maximum against the greenback.
Asian and European trading sessions:
Euro: Expectations for the release of the positive Euro-zone fundamentals supported the euro during the morning trading on Monday. In particular, it is forecasted that the German factory orders will show growth for 0.5% for July.
And the EUR/USD rate reached the $1.2920 mark.
US Dollar: The demand for the save-haven currencies decreased after the release of the unexpectedly positive US fundamentals last Friday. And the greenback traded with a decrease against its high-yielding competitors.
British Pound: The sterling also managed to show maximums at the level of $1.5490. The UK 3Q growth in manufacturing production demonstrated record-breaking increase. The BRC August retail sales monitor showed increase from its previous level. Nevertheless, the pound dropped to $1.5345.
Japanese Yen: The yen stepped back from the previously reached maximums as the Bank of Japan 2-day meeting started.
Australian Dollar: The credit agency S&P confirmed the credit rating of Australia at the AAA level, and pointed out that the financial consolidation would continue during 2011.
Canadian Dollar: Market participants are awaiting for the release of the principal rate decision of the National Bank of Canada this Wednesday. It is anticipated that the interest rate will be increased to 1%.
Oil: Oil priced decreased to $74.26 mar per barrel during the morning trading.
American trading session:
Due to the Labor day celebrations the financial markets of the US and Canada were closed on Monday.
Technical analysis for 7/09
EURUSD
The pair rolled back from the resistance 1.28630. If the pairs stays below this level the pair will drop to 1.27009. If the pair stays above 1.28630 the pair will rise to 1.30277.
Resistance: 1.28630, 1.30277, 1.31181
Support: 1.27009, 1.25690, 1.23907
GBPUSD
The pair found support at Moving Average (100) at 1.5388.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The pair has declined to 1.01498. If the stays below this level the pair will drop to 0.99821.
Resistance: 1.01498, 1.02747, 1.03987
Support: 0,99821, 0,98567, 0,98567
USDJPY
The pair will decline to 83.330 if the pair stays below 84.260.
Resistance: 85.161, 86.246, 87.014
Support: 84.260, 83.330, 82.016
AUDUSD
The pair has broken 0.90284. If the pair stays above this level, the pair will rise to 0.92170. Support at 0.89029.
Resistance: 0.92170, 0.93788, 0.94898
Support: 0.90284, 0.89029, 0.87243
Asian and European trading sessions:
Euro: Expectations for the release of the positive Euro-zone fundamentals supported the euro during the morning trading on Monday. In particular, it is forecasted that the German factory orders will show growth for 0.5% for July.
And the EUR/USD rate reached the $1.2920 mark.
US Dollar: The demand for the save-haven currencies decreased after the release of the unexpectedly positive US fundamentals last Friday. And the greenback traded with a decrease against its high-yielding competitors.
British Pound: The sterling also managed to show maximums at the level of $1.5490. The UK 3Q growth in manufacturing production demonstrated record-breaking increase. The BRC August retail sales monitor showed increase from its previous level. Nevertheless, the pound dropped to $1.5345.
Japanese Yen: The yen stepped back from the previously reached maximums as the Bank of Japan 2-day meeting started.
Australian Dollar: The credit agency S&P confirmed the credit rating of Australia at the AAA level, and pointed out that the financial consolidation would continue during 2011.
Canadian Dollar: Market participants are awaiting for the release of the principal rate decision of the National Bank of Canada this Wednesday. It is anticipated that the interest rate will be increased to 1%.
Oil: Oil priced decreased to $74.26 mar per barrel during the morning trading.
American trading session:
Due to the Labor day celebrations the financial markets of the US and Canada were closed on Monday.
Technical analysis for 7/09
EURUSD
The pair rolled back from the resistance 1.28630. If the pairs stays below this level the pair will drop to 1.27009. If the pair stays above 1.28630 the pair will rise to 1.30277.
Resistance: 1.28630, 1.30277, 1.31181
Support: 1.27009, 1.25690, 1.23907
GBPUSD
The pair found support at Moving Average (100) at 1.5388.
Resistance: 1.54842, 1.56722, 1.58543
Support: 1.52523, 1.50581, 1.48532
USDCHF
The pair has declined to 1.01498. If the stays below this level the pair will drop to 0.99821.
Resistance: 1.01498, 1.02747, 1.03987
Support: 0,99821, 0,98567, 0,98567
USDJPY
The pair will decline to 83.330 if the pair stays below 84.260.
Resistance: 85.161, 86.246, 87.014
Support: 84.260, 83.330, 82.016
AUDUSD
The pair has broken 0.90284. If the pair stays above this level, the pair will rise to 0.92170. Support at 0.89029.
Resistance: 0.92170, 0.93788, 0.94898
Support: 0.90284, 0.89029, 0.87243