USD struggles without data
City Index December 9, 2014 2:12 PM
<p>With little inspiring data yesterday, the USD took a breather from its dominant run and let EUR, GBP and JPY rally. This is continuing this […]</p>
With little inspiring data yesterday, the USD took a breather from its dominant run and let EUR, GBP and JPY rally. This is continuing this morning as we await some macro data. First up today is from the UK with manufacturing production set to be weaker, but this not making any difference to the GBP/USD price as it starts up 40 points, currently just below 1.5700.
USD/JPY has just collapsed since yesterday, already down over 100 points today, after hitting highs of 121.83 only on the open Sunday we are now trading below 120.00, with no real important data from the US until Thursday’s retail sales.
EUR/USD is trading just above the 1.2350 level after an impressive turnaround yesterday, after hitting lows of 1.2243. It’s started today in this upward move gaining back ground, with little data to go on today, possible range trading ahead.
The Aussie data overnight disappointed with weaker business confidence knocking AUD/USD lower, with a lot of speculation the RBA could be ready to cut rates. For the time being, AUD is struggling against USD.
Supports 1.2260 1.2200 1.2160 | Resistance 1.2360 1.2400 1.2450
Supports 120.00 119.35 118.50 | Resistance 121.50 122.35 123.00
Supports 1.5570 1.5485 1.5430 | Resistance 1.5705 1.5760 1.5845
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