US dollar data to set the tone today
City Index October 28, 2014 1:15 PM
<p>The FX markets are in tight ranges so far today, with the FOMC statement out tomorrow night. The US has the only data to look […]</p>
The FX markets are in tight ranges so far today, with the FOMC statement out tomorrow night.
The US has the only data to look out for today, with Core Durable goods orders expected to increase slightly to 0.5% from 0.4%, and consumer confidence expected to rise to 87.4 from 86. So, the expected outcome should be positive for the US dollar.
The Euro has been in a slightly upward trend since the 23rd, but with the ECB stimulus expecting to lack a desired scale, more weight is still hanging onto it.
The pound has been moving the same way as the euro since the 23rd (all one way) but with recent weak data out of the UK last week and a lack of support for the rate rise, the pressures are still there.
Supports 1.2665 1.2630 1.2610 | Resistance 1.2720 1.2740 1.2840
Supports 107.60 107.10 106.75 | Resistance 108.10 108.40 108.75
Supports 1.6080 1.6015 1.5990 | Resistance 1.6150 1.6185 1.6225
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