The pairing saw the euro spike up to highs not seen in a number of weeks after the release of the Non Farm Payrolls report from the U.S. Ultimately, however the rise in the pairing in favor of the euro was short lived as the pairing experienced a sharp reversal reaching back down to levels seen prior to the highly anticipated jobs report released ever so slightly less than expected figures, creating a sense that overall movement in the pairing post the outburst of activity straight after the Non Farm Payrolls report saw very much movement of a static nature. This static and sideways movement in the pairing continued throughout today’s Asian trading session. Moving forward throughout today there is little, if at all any in terms of financial news events to move the direction of the pairing in one way or another. Therefore traders and investors will be looking ahead later in the week when the U.S retail sales report is due to be released as well as weekly unemployment claims. Today EUR/USD has support of 1.3585 and resistance of 1.3670.
GBP/USD
The pound experienced a downfall in favor of the dollar on the back of the monthly jobs report from the U.S, which gave traders and investors the short term impression the U.S economy is seeing to a certain extent some sort of recovery. Moving forward to today’s Asian trading session there had been very little movement in the pairing seeing static activity. It is interesting to note however that there seems to be show that the pairing has switched to recovery mode showing a certain rise in the favor of the pound, so it will be interesting to see as to whether the pairing will continue to move upwards throughout today’s European trading session. In light of the absence of any economic events that may affect the the pairing, traders and investors will be very much looking forward to financial reports to be released later in the week both from the U.S and the U.K namely in the form of industrial manufacturing production in the U.K and retail sales from the U.S. Today GBP/USD has support of 1.6870 and resistance of 1.6710
USD/JPY
The pairing rose after the release of the Non Farm Payrolls report on Friday where figures showed the U.S economy added 217,000 last month. Although this was less than forecast, it was enough for the pairing to react positively in favor of the dollar. On a side note one can see from the recent activity of the pairing that traders and investors are to a certain extent distancing themselves from the safe haven currencies and moving back to risk averse currencies. Traders and investors will be looking ahead later this week for the Bank of Japan monetary policy meeting where there may be decisions made as the forward direction of the overall Japanese economy. Also later in the week, the U.S will be releasing a report regarding and detailing the weekly unemployment claims report. In terms of financial news events, there is an absence of reports today that may have high impact as to the direction and movement of the pairing. Today USD/JPY has support of 101.90 and resistance of 102.70
June 9, 2014 – Forex News
Hot Asset for today: GBP/USD
EUR/USD
The pairing saw the euro spike up to highs not seen in a number of weeks after the release of the Non Farm Payrolls report from the U.S. Ultimately, however the rise in the pairing in favor of the euro was short lived as the pairing experienced a sharp reversal reaching back down to levels seen prior to the highly anticipated jobs report released ever so slightly less than expected figures, creating a sense that overall movement in the pairing post the outburst of activity straight after the Non Farm Payrolls report saw very much movement of a static nature. This static and sideways movement in the pairing continued throughout today’s Asian trading session. Moving forward throughout today there is little, if at all any in terms of financial news events to move the direction of the pairing in one way or another. Therefore traders and investors will be looking ahead later in the week when the U.S retail sales report is due to be released as well as weekly unemployment claims. Today EUR/USD has support of 1.3585 and resistance of 1.3670.
GBP/USD
The pound experienced a downfall in favor of the dollar on the back of the monthly jobs report from the U.S, which gave traders and investors the short term impression the U.S economy is seeing to a certain extent some sort of recovery. Moving forward to today’s Asian trading session there had been very little movement in the pairing seeing static activity. It is interesting to note however that there seems to be show that the pairing has switched to recovery mode showing a certain rise in the favor of the pound, so it will be interesting to see as to whether the pairing will continue to move upwards throughout today’s European trading session. In light of the absence of any economic events that may affect the the pairing, traders and investors will be very much looking forward to financial reports to be released later in the week both from the U.S and the U.K namely in the form of industrial manufacturing production in the U.K and retail sales from the U.S. Today GBP/USD has support of 1.6870 and resistance of 1.6710
USD/JPY
The pairing rose after the release of the Non Farm Payrolls report on Friday where figures showed the U.S economy added 217,000 last month. Although this was less than forecast, it was enough for the pairing to react positively in favor of the dollar. On a side note one can see from the recent activity of the pairing that traders and investors are to a certain extent distancing themselves from the safe haven currencies and moving back to risk averse currencies. Traders and investors will be looking ahead later this week for the Bank of Japan monetary policy meeting where there may be decisions made as the forward direction of the overall Japanese economy. Also later in the week, the U.S will be releasing a report regarding and detailing the weekly unemployment claims report. In terms of financial news events, there is an absence of reports today that may have high impact as to the direction and movement of the pairing. Today USD/JPY has support of 101.90 and resistance of 102.70
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