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Thursday, September 1st
GBP/USD
Current price: 1.3141 (0.0%)
Session range: Open 1.3137 High 1.3156 Low 1.3128
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.3024 R. 1.3268
Main drivers: UK Manufacturing PMI, US ISM Manufacturing PMI
Overview: Despite that the pound is still growing against its American peer, pair’s bullish impetus is running of steam forcing the pair to consolidate near mid-1.3100 level. Moreover, upcoming UK Manufacturing PMI is also taking away part of volatility as traders are staying vigilant expecting to see growth in activity level of purchasing managers in the manufacturing sector despite Brexit-vote outcome.
EUR/USD
Current price: 1.1133 (-0.2%)
Session range: Open 1.1157 High 1.1167 Low 1.1127
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.1105 R. 1.1191
Main drivers: US ISM Manufacturing PMI
Overview: The pair is retreating from its daily highs witnessed at 1.1166 spot keeping its calm mood. However, the euro is not giving up today, recovering moderate part of its overnight losses especially looking at dollar’s bid tone on the back of positive data from labor and housing markets showed yesterday. Currently the market is not showing any significant moves as traders are staying alert ahead of German and Eurozone Manufacturing PMI coming up in early Europe.
USD/JPY
Current price: 103.55 (0.1%)
Session range: Open 103.42 High 103.66 Low 103.05
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 102.58 R. 103.94
Main drivers: US ISM Manufacturing PMI
Overview: The pair is extending its growth for a sixth session in a row once again refreshing its monthly highs near the level of 103.60. The yen remains under selling pressure as ongoing talks about further monetary easing by the BoJ continue to weigh the currency of Japan. Moreover, the pair is strongly supported today by expectations of crucial Non-Farm Payrolls scheduled for this Friday, which will help market participants to determine next Fed monetary policy move. Today in view of Japanese data light calendar the pair most likely will stay under shrinking risk appetite as traders will stay cautions in anticipation of key risk event of this week limiting pairs upside momentum.
AUD/USD
Current price: 0.7533 (0.2%)
Session range: Open 0.7517 High 0.7550 Low 0.7512
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 0.7470 R. 0.7556
Main drivers: US ISM Manufacturing PMI
Overview: The aussie is extending its recovery from yesterday lows last seen since August 2. The Australian dollar, often used as a proxy of China-related trades, received its upside impetus after China has provided market with positive Manufacturing PMI this morning, while Australian dataflow has indicated not so confident results restricting pair’s gains.
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