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Thursday, October 20th
EUR/USD
Current price: 1,0976 (0,0%)
Session range: Open 1.0973 High 1.0981 Low 1.0951
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.0928 R. 1.1026
Main drivers: ECB Interest Rate Decision, Philadelphia Fed Manufacturing Index, ECB Press Conference, US Existing Home Sales, EU Leaders Summit
Overview: Today the US dollar extends its bullish mood following H.Clinton’s win on the third and final presidential election debate. However, growing caution across the market ahead of crucial ECB Interest Rate Decision is limiting pair’s movement range. It is widely expected that ECB wont surprise the market with its decision today but the pair could replicate the tone of the statement that will be digested later across the market.
AUD/USD
Current price: 0.7668 (-0.7%)
Session range: Open 0.7721 High 0.7736 Low 0.7654
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 0.7634 R. 0.7774
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: The Aussie loses its smile today and breaks six-day winning streak responding on the negative Australian jobs report. As it was said on the last RBA meeting minutes weaker labor market wellness remains a key factor for the next RBA interest rate decision thereby heating concerns of further monetary policy easing. Moreover, minor slide in oil prices combined with growing demand for the greenback are also adding bullish momentum to the pair.
USD/CAD
Current price: 1.3170 (0.4%)
Session range: Open 1.3114 High 1.3178 Low 1.3109
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 1.2950 R. 1.3222
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Currently the USD/CAD pair is giving away the most part of its losses and now is eyeing to refresh its weekly highs. Yesterday the pair has performed significant down surge as BoC interest rate decision met market’s expectations at 0.5% coupled with strong drop in crude oil inventories that supported resource-linked Canadian currency. However, the spike was faded quickly as more dovish comments from BoC Governor S.Poloz of lowering economic growth forecast forced the pair to retreat from its multi-week lows. Moreover, minor correction in oil price and expanding risk-on mood triggered by H.Clinton win in the third election debate are pushing the pair in north direction.
USD/CHF
Current price: 0.9890 (0.0)
Session range: Open 0.9890 High 0.9910 Low 0.9883
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 0.9860 R. 0.9920
Main drivers: Philadelphia Fed Manufacturing Index, US Existing Home Sales
Overview: Seems that CHF bulls remain unimpressed by positive Swiss Trade Balance allowing the pair to grow above the level of 0.9900 this morning. Moreover, new wave of risk appetite hits the market as the final US election debates are over with H.Clinton’s lead thereby suppressing Swiss franc’s safe-haven status. While upbeat sentiments around US dollar remain as a main driver for the major, market participants have set up their focus on the upcoming ECB Interest Rate Decision that also could bring some impetus for the pair during Europe.
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