Forex Videos

The Wall Street finished mixed as optimismistic Inflation data bolstered hawkish arguments for a December Interest rate hike offsetting gains in the Retail sector after Walmart and other Industry giants posted strong returns. The Dow Jones rose by 0.04%, S&P 500 fell by 0.13% and NASDAQ added 0.03% to its value. The US Dollar traded high against most major currencies after upbeat US Inflation data added to hopes that Fed will raise Interest rates in December. The Capacity Utilization Rate came as expected at 77.5% while CPI and Core CPI remained as expected at 0.2%. Today the Building Permits report is expected at 1.15 million vs. 1.11 million previously and FOMC Meeting Minutes are due for release. Gold fell by 1.26% to close at $1,070 an ounce. Crude oil fell by 1.84% to close at $40.97 a barrel.
The Euro fell by 0.41% versus the US Dollar closing at 1.0643. The German ZEW Economic Sentiment published better than expected at 10.4 vs. 6.7 previously. According to 1 hour chart the pair is trading below the bearish trend line with momentum indicator below 0. This may lead to a drop towards 1.0750 while an increase in momentum could drive it up towards 1.0750. The Pound rose slightly versus the US Dollar to close at 1.5216. According to 8 hour chart the pair is trading below the resistance level of 1.5260. Holding here may lead to a drop towards 1.5150. However as long as the pair is trading above the 10 day moving average a rise towards 1.53 is also possible. No economic data is expected today.