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Daily Currency Report(2015.12.31)

Source: Direct Fx Broker (Review and Forex Rebates up to 85%)

 

Forex Market Update

This morning, the greenback is trading mixed against most of the major currencies, ahead of the US weekly initial jobless claims and Chicago purchasing managers index data, scheduled to be released in a few hours.

The EUR is trading lower against the USD. Going ahead, investors await the release of ECB’s monetary policy meeting accounts, due in a few hours.

The GBP is trading lower against the USD. Moving ahead, market participants will look forward to the UK’s Markit manufacturing and services PMI and construction PMI along with mortgage approvals data, scheduled to be released next week.

The AUD is trading higher against the USD. Early this morning, data indicated that private sector credit growth in Australia rose less-than-anticipated on a monthly basis in November.

Yesterday, the greenback traded lower in the New York session against the key currencies. On the economic front, US pending home sales surprisingly fell for the third time in four months on a monthly basis in November, as rising home prices and tight supplies dampened optimism over the health of the nation’s housing sector.


EURUSD

This morning at 10:40 GMT, the EUR is trading at 1.0906 against the USD, 0.24% lower from the New York close. This morning, the pair traded at a high of 1.0938 and a low of 1.0900. The Euro traded 0.06% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0932. The pair is expected to its find support at 1.0889 and its first resistance at 1.0933.


GBPUSD

At 10:40 GMT, the pair is trading at 1.4823, with the Pound trading 0.06% higher against US Dollar from the New York close. Amid no economic releases in UK today, investor sentiment would be governed by global macroeconomic news. The pair witnessed a high of 1.4847 and a low of 1.4809 during the session. Yesterday, the Pound traded 0.08% higher against the US Dollar in the New York session and ended at 1.4815. Immediate downside, the first support level is seen at 1.4794, while on the upside, the first resistance level is situated at 1.4852.


USDJPY

This morning, at 10:40 GMT, the US Dollar is trading at 120.39 against the Yen, 0.11% lower from the New York close. Moving ahead, investors will look forward to Japan’s Nikkei manufacturing PMI for December, scheduled to release early next week. During the session, the pair traded at a high of 120.60 and a low of 120.33. Yesterday, the US Dollar traded marginally higher against the Yen in the New York session and ended at 120.52. The pair is expected to its find support at 120.25 and its first resistance at 120.60.


USDCHF

The US Dollar is trading at 0.9930 against the Swiss Franc at 10:40 GMT this morning, 0.45% higher from the New York close. Going ahead, market participants will concentrate on Switzerland’s SVME purchasing managers index data, scheduled to release next week. The pair traded at a high of 0.9940 and a low of 0.9873 this morning. Yesterday, the USD traded 0.11% lower against the CHF in the New York session and ended at 0.9886. The pair is expected to its find support at 0.9879 and its first resistance at 0.9961.


USDCAD

The pair is trading at 1.3894 at 10:40 GMT this morning, with the USD trading 0.13% higher against CAD from the New York close. The pair traded at a high of 1.3904 and a low of 1.3867 this morning. The US Dollar declined against the Canadian Dollar in the New York session yesterday, closing marginally lower at 1.3876. The pair is expected to its find support at 1.3855 and its first resistance at 1.3931.


AUDUSD

The pair is trading at 0.7314 at 10:40 GMT this morning, with the Australian Dollar trading 0.43% higher against US Dollar from the New York close. In economic news, Australia’s private sector credit growth advanced less-than-expected on a monthly basis in November. This morning, the pair traded at a high of 0.7329 and a low of 0.7271. The Australian Dollar traded 0.15% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7283. The pair is expected to its find support at 0.7280 and its first resistance at 0.7339.


Gold

Gold is trading at $1061.40 per ounce at 10:40 GMT this morning, 0.15% higher from the New York close. This morning, the precious metal traded at a high of $1062.70 per ounce and a low of $1059.80 per ounce. Yesterday, gold traded 0.68% lower in the New York session and closed at $1059.80 per ounce, extending its previous session losses. Immediate downside, the first support level is seen at $1056.93 per ounce, while on the upside, the first resistance level is at $1067.43 per ounce.


Silver

The precious metal is trading at $13.87 per ounce at 10:40 GMT this morning, 0.17% higher from the New York close. During the session, silver traded at a high of $13.96 per ounce and a low of $13.77 per ounce. In the New York session yesterday, silver fell 0.06% and closed at $13.84 per ounce, tracking losses in gold prices. Immediate downside, the first support level is seen at $13.76 per ounce, while on the upside, the first resistance level is at $13.97 per ounce.


Oil

The commodity is trading at $36.71 per barrel at 10:40 GMT this morning, 0.3% higher from the New York close. Crude oil witnessed a high of $36.86 per barrel and a low of $36.57 per barrel during the session. In the New York session yesterday, crude oil fell 1.0% to close at $36.60 per barrel, after the Energy Information Administration (EIA) reported that US crude-oil inventories unexpectedly rose by 2.6 million barrels to 487.4 million barrels in the week ended 25 December. Immediate downside, the first support level is seen at $36.35 per barrel, while on the upside, the first resistance level is at $37.12 per barrel.


Economic Snapshot


Australian private sector credit advanced less than expected in November

In November, the private sector credit in Australia climbed 0.40% on a MoM basis, compared to an advance of 0.70% in the prior month. Markets were anticipating the private sector credit to advance 0.60%.

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