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Friday, August 14th
EUR/USD is trading flat ahead of emergency bailout session in Greek Parliament. Currently the pair is at 1.1141 after reaching the highs of 1.1213 on Wednesday. Today, euro zone GDP and CPI data is published which will be followed by Michigan Consumer Sentiment and PPI from the United States. German GDP was insignificantly lower than expected coming out at 0.4% against expectations of 0.5% growth. The important levels to watch are 1.1060 for support and 1.1226 for resistance.
NZD/USD was down amid Retail Sales data coming out in red colour with more disappointing numbers than it was expected. The New Zealand dollar fell to 0.6538 after opening Asian session at 0.6568. The support will be found at 0.6498, while resistance is located near 0.6607.
USD/CAD is rebounding after positive US data added to expectations for a September rate hike. The U.S. Department of Labor reported that the number of individuals filing for initial jobless benefits rose by 5000 to 274,000, which was higher than expected. Although, retails sales increased by 0.6% last month beating the forecast of 0.5%, while core retails sales rose by 0.4% in July matching the expectations. Canadian New House Price Index came out in green colour at 0.3%. Later in the day, Canadian manufacturing Sales data is expected. The support level is located at 1.2948, while resistance is at 1.3157.
GBP/USD is trading flat since the market opening at 1.5608 in Asia. The U.S. dollar index rose 0.04% overnight reaching the 96.40. Without any important news expected from the United Kingdom, the pair’s fluctuations will be mostly driven by the American data due later in the day.
USD/CHF struggled to rise above 0.98 level after suffering significant losses on Wednesday. Yesterday, the pair rose modestly by 0.0007 points even though Swiss PPI showed even more considerable contraction in numbers than expected. Next week, Swiss Trade Balance data is published. Currently trading at 0.9755, the pair has immediate resistance at 0.9815 and support at 0.9697.
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