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Monday, October 19th
NZD/USD slipped lower on Monday as Chinese GDP growth rate slowed from the previous 7% to its current 6.9%. Industrial production figures in China were in red colour at 5.7% versus 6% expected by analysts. The Kiwi is changing hands at 0.6811 against its US counterpart. Current support and resistance levels are located at 0.6706 and 0.6884, respectively.
EUR/USD is aiming up trading at 1.1373 after the losses suffered in the end of last week. On Thursday, ECB stated that additional measures are needed to boost price growth in the euro zone. Data on Friday confirmed that the rate of inflation in the euro area turned negative in September for the first time since the ECB launched its trillion euro asset purchase program in March. Current support and resistance levels are located at 1.1253 and 1.1429.
GBP/USD is slightly higher at 1.5435. Tomorrow, the market’s attention will be on the speech of BoE Governor Carney, who is expected to provide some clues on bank’s vision of decline in inflation. On Wednesday, investors are viewing the British public sector net borrowing figures. Retail sales data is due on Thursday. The support is seen at 1.5327, while resistance is located close to 1.5540.
AUD/USD held steady this morning despite weak data from China while sentiment on the greenback remained vulnerable. The pair is located at 0.7291. This week, data is expected from US, which is likely to affect the AUD price. This includes US Building permits and existing home sales. The support and resistance levels are at 0.7174 and 0.7337.
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