EURUSD dropped yesterday and closed at 1.339. The M3 Money Supply in the Eurozone rose 2.2 percent on an annual basis in July. The European Central Bank reported that the private loans in the Euro area dropped 1.9 percent on an annual basis in July. The GfK German Consumer Climate dropped to a reading of 6.9 for September. On the other side of the ocean the Pending Home Sales in the United States dropped 1.3 percent month over month in July. The ongoing crisis in Syria keeps supporting the safe heaven United States dollar against the single European currency. Investors are now awaiting the preliminary Gross Domestic Product data and the Unemployment Claims due from the United States. Support for the EURUSD is seen at 1.3259 and resistance is seen at 1.3343. The HotForex Traders Board shows that 51 percent of the traders are long on the EURUSD.
GBPUSD
The Cable dropped yesterday and closed at 1.5524. The Governor of Bank of England Mark Carney stated the UK central bank is ready to provide further stimulus measures to boost the economy in the region. He also added that the policy makers plan to keep the interest rate at the record low of 0.50 percent for at least 3 years until the unemployment rate in the UK reaches 7 percent. A report showed that the CBI Realized Sales in the UK advanced to a reading of 27 in August. With no domestic releases from the United Kingdom today trading trends on the pair are expected to be determined by the releases from the United States. Support for the GBPUSD is seen at 1.5448 and resistance is seen at 1.5553. The HotForex Traders Board shows that 52 percent of the traders are long on the GBPUSD.
EURUSD continues to drift lower driven by the tensions in Syria. GDP and the Unemployment claims data due from the United States.
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