Daily Outlook 3-09-2014

Topic locked
  • Reply
Daily Outlook 3-09-2014 Sep 03, 2014
EUR USD
The EUR traded marginally higher against the USD and closed at 1.3134.

In economic news, the PPI in the Euro-zone eased 0.1% in July, compared to a rise of 0.1% in the previous month. Elsewhere, In Spain, the number of unemployed people registered a rise of 8.1K in August, following a 29.8K decline in the prior month but lower than market expectations.

In the US, the manufacturing activity expanded in August at the fastest rate since March 2011.

The pair is expected to find support at 1.3117, and a fall through could take it to the next support level of 1.31. The pair is expected to find its first resistance at 1.3145, and a rise through could take it to the next resistance level of 1.3156.

Trading trends in the Euro today are expected to be determined by services PMI data from the Euro-zone and its various peripheries as well as Euro-zone’s retail sales data, set for release in a few hours.

GBP USD
The GBP fell 0.85% against the USD and closed at 1.6470.

In economic news, the UK construction PMI grew at its fastest pace in 7 months to a level of 64.0 in August, higher than market expectations.

The pair is expected to find support at 1.6423, and a fall through could take it to the next support level of 1.6378. The pair is expected to find its first resistance at 1.6553, and a rise through could take it to the next resistance level of 1.6638.

Trading trends in the Pound today are expected to be determined by services PMI data from the UK, scheduled in a few hours.

USD/JPY
The USD strengthened 0.77% against the JPY and closed at 105.12.
data indicated that the Japanese services sector slipped into contraction, as the nation’s services PMI dropped to 49.9 in August, down from a level of 50.4, registered in the prior month.

The pair is expected to find support at 104.8, and a fall through could take it to the next support level of 104.41. The pair is expected to find its first resistance at 105.44, and a rise through could take it to the next resistance level of 105.68.

USD/CHF
The USD traded lower against the CHF and closed at 0.9191.

The Switzerland’s economy stagnated on a quarterly basis in 2Q 2014, following an expansion of 0.5% in the previous quarter.

The pair is expected to find support at 0.9182, and a fall through could take it to the next support level of 0.9171. The pair is expected to find its first resistance at 0.9209, and a rise through could take it to the next resistance level of 0.9225.

Amid lack of economic releases from Switzerland today, investors would pay attention to economic news from other countries.

CommexFX
Dubai Forums Enthusiast
Posts: 76
Location: null IN

posting in Dubai Business TalkForum Rules

Return to Dubai Business Talk


  • Related topics
    Replies
    Last post