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Friday, September 16th
GBP/USD
Current price: 1.3215 (-0.2%)
Session range: Open 1.3237 High 1.3248 Low 1.3191
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.3132 R. 1.3330
Main drivers: US Core CPI
Overview: Currently the pair is staying in its consolidative phase amid lack of momentum as most of Asian markets remain closed. Seems that pound’s bulls are out of steam at the start of European session, after disappointing data from US economy seen yesterday. However, the pound is still experiencing slight pressure as markets are still digesting yesterday’s BOE meeting outcome.
EUR/USD
Current price: 1.1230 (-0.1%)
Session range: Open 1.1243 High 1.1251 Low 1.1229
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1183 R. 1.1313
Main drivers: US Core CPI
Overview: The main currency pair is keeping its narrow range at the end of this week as dust around downbeat US macroeconomic releases has settled down. The pair has fully faded yesterday’s spike and now is trading back in its comfort zone near the mid-1.12. However, yesterday’s poor US prints exerted significant pressure on the further prospects of Fed rate-hike. Today, in absence of fundamental catalysts from Eurozone the pair will follow the global market sentiments, while US economy will announce CPI report later in NA session.
USD/JPY
Current price: 101.95 (-0.1%)
Session range: Open 102.10 High 102.18 Low 101.73
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 101.34 R. 103.12
Main drivers: US Core CPI, Canadian Manufacturing Sales
Overview: Today US dollar has performed comeback to the level of 102.00 from overnight lows posted near 101.74 as dust around downbeat US macroeconomic figures settles down. Moreover, the pair remains directionless as prevalent uncertainty over next policy moves from Fed and BOJ are keeping traders confused and limiting pair’s actions lately. Both central banks interest rate decisions are scheduled on September 21.
USD/CAD
Current price: 1.3170 (0.1%)
Session range: Open 1.3159 High 1.3175 Low 1.3141
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.3068 R. 1.3278
Main drivers: US Core CPI
Overview: At the moment the pair is running in quite mode following global markets consolidative pattern after reaching 2-month high yesterday at the level of 1.3236. Yesterday US bears were strong enough to throw off the pair for more than 100 pips to the level of 1.3130 after American economy introduced disappointing data. However, today Canadian dollar will stay little bit subdued against its American neighbor as oil prices are keeping its defensive mode lately.
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