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Monday, September 14th
AUD/USD was higher this morning opening trades at 0.7081.Chinese data was mixed with fixed asset investment rising 10.9% while industrial production gained 6.1%, below the 6.4% expected and retail sales rose 10.8%, above the 10.5% seen. Tomorrow, investors are viewing the outcome of Monetary Policy Meeting Minutes in Australia. Currently, the aussie is changing hands at 0.7067 with support at 0.6982 and resistance at 0.7122.
USD/JPY was mostly flat this morning despite Japanese industrial production contracting more than expected by 0.8%. The Capacity Utilization rate was down 0.2%. Markets now await Tuesday’s BOJ rate decision for more cues on further QQE amid no significant data to be reported later today. The pair is trading at 120.27.
GBP/USD is keeping above 1.5425 with the current quote at 1.5444. This week, data is expected from the UK including CPI, PPI, average earnings and retails sales. The expectations are inclined towards some bullish developments this week, however the Fed Monetary Policy Meeting on Thursday poses some downward risks to this pair. The support can be found at 1.5348 and resistance is located at 1.5512.
EUR/USD is going up again, which makes it a seventh successful session for the pair. The euro is currently quoted at 1.1365. While Industrial production data is expected tomorrow, more news is due later in the week, including ZEW Economic Sentiment and CPI. It is expected that a pair might reach as high as 1.1428 before showing some downside to 1.1287.
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