Weak USD to the start of trading
City Index September 22, 2014 2:21 PM
<p>After an eventful week last week for the pound, with Scotland staying part of the United Kingdom, the pound has stabilised around just above the […]</p>
After an eventful week last week for the pound, with Scotland staying part of the United Kingdom, the pound has stabilised around just above the 1.63 handle for now, as the long positions were cut on Friday after the outcome was announced.
This week for the pound there are no major events but some mid-level data to be released.
The euro has bounced off its lows of the year just sitting above the 1.2850 level, as a generally weak US dollar has started off today. Today the ECB’s Mario Draghi is speaking and, as always with his speeches, there could be a lot of action involved regarding low inflation in the Eurozone and the latest cut in rates.
USD/JPY has dropped below the 109.00 level and seems to be the general weakness in the USD so far today, with existing US homes sales out later- the only data of note today.
Supports 1.2850-1.2825-1.2800 | Resistance 1.2870-1.2880-1.2890
Supports 108.75-108.60-108.30 | Resistance 109.00-109.30-109.45
Supports 1.6320-1.6300-1.6282 | Resistance 1.6370-1.6400-1.6480
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.