EUR / USD
The EUR rose 0.17% against the USD and closed at 1.3280, following upbeat macroeconomic data from Germany.
French manufacturing PMI fell to 15-month low of 46.5 in August, underlying concerns about the economic outlook of the Eurozone’s second largest economy.
In the US, the Kansas City Fed President Esther George, in an interview from the central bank symposium in Jackson Hole, mentioned that there is steady improvement in the US labour market. Also, the Philadelphia Fed President, Charles Plosser, warned that the Fed should not wait too long to raise benchmark rates and should start raising it sooner, while pursuing a gradual approach.
The pair is expected to find support at 1.3252, and a fall through could take it to the next support level of 1.3224. The pair is expected to find its first resistance at 1.3299, and a rise through could take it to the next resistance level of 1.3318.
Trading trends in the pair today would be mainly determined by the speeches of heads of the Fed and the ECB, in Jackson Hole, scheduled later in the day.
GBP / USD
The GBP fell 0.10% against the USD and closed at 1.6579, after retail sales in the UK grew at the slowest annual rate since November last year.
The UK retail sales volumes rose 0.1% in July, compared to a revised advance of 0.2% in the previous month.
The pair is expected to find support at 1.6561, and a fall through could take it to the next support level of 1.6544. The pair is expected to find its first resistance at 1.6599, and a rise through could take it to the next resistance level of 1.6620.
Going forward, a speech by the BoE’s Deputy Governor, Ben Broadbent, at the Fed Jackson Hole Symposium, would be closely watched.
USD / JPY
The USD strengthened 0.13% against the JPY and closed at 103.85.
Japan’s supermarket sales in July fell 2.1%, on an annual basis, down for the fourth straight month after posting a 2.8% drop in the previous month.
The pair is expected to find support at 103.61, and a fall through could take it to the next support level of 103.42. The pair is expected to find its first resistance at 103.98, and a rise through could take it to the next resistance level of 104.16.
USD / CHF
The USD declined 0.22% against the CHF and closed at 0.9115.
the Swiss trade surplus widened to 3.98 billionswiss francs in July, compared to market expectations of a surplus of CHF1.85 billion.
The pair is expected to find support at 0.91, and a fall through could take it to the next support level of 0.9086. The pair is expected to find its first resistance at 0.9137, and a rise through could take it to the next resistance level of 0.9160.