US Dollar Gives Back Gains, Falls to 80.25 Monday
US Dollar Gives Back Gains, Falls to 80.25 Monday
DXY, EUR/USD. GBP/USD. USD/CHF, EUR/CHF, USD/JPY, AUD/USD, USD/CAD
The US Dollar Index surrendered its early gains, sliding back onto the 80.25 mark. The weakness sets up a test 80.00, but the 78.50/79.00 support area remains more important.
EUR/USD is +45 pips at 1.3110 as trade holds near session highs. Action is attempting to regain 1.3150 in its quest to push through the 1.3300 level. Eurozone data will see retail sales, the unemployment rate, and German factory orders.
GBP/USD is +30 pips at 1.6100 as trade has recovered all of Friday’s losses. Traders will be watching the 1.6100 as bulls look to erase last week’s losses.
USD/CHF is -30 pips at .9215 as trade slides off the .9250 resistance mark. Action near support in the .9140 region will be telling.
USD/JPY is -40 pips at 87.65 as action holds on session lows. Despite Monday’s weakness, action has seen little pullback during the 1100 pip ramp off the September lows. Monday’s weakness comes after from Japanese Finance Minister Taro Aso suggested the government will not ask the Bank of Japan to put its 2.0% inflation target in writing.
AUD/USD is +5 pips at 1.0485 after early action was rejected just above the 1.0500 mark. Tonight’s Australian trade balance figure will likely have an impact.
USD/CAD is -10 pips at .9860 after Canada’s Ivey PMI surged to 52.8, 47.5 previous. Recent weakness has dropped the pair below its 100-Day MA, and has trade testing support in the .9840 area.
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Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com
Singapore
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
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