EUR/USD
The EUR rose 1.38% against the USD and closed at 1.2819. On the macro front, Germany’s final consumer price index advanced 0.8% on an annual basis in September, at par with market expectations. In the US, advance retail sales fell 0.3% on a monthly basis in September, exceeding market expectations for a fall of 0.1%. Separately, the Fed’s Beige book report indicated that the US economy would continue to grow at a modest-to-moderate pace with little sign of inflation and that the wage growth would remain modest. The pair is expected to find support at 1.2678, and a fall through could take it to the next support level of 1.2529. The pair is expected to find its first resistance at 1.2931, and a rise through could take it to the next resistance level of 1.3035. Trading trends in the Euro today are expected to be determined by the Euro-zone’s CPI data, scheduled in a few hours. Meanwhile, the Fed Chief, Janet Yellen’s speech as well as initial jobless claims data from the US would keep investors on their toes.
GBP/USD
The GBP rose 0.65% against the USD and closed at 1.5995, after the UK’s I-L-O unemployment rate dropped to 6.0%, marking its lowest level since October 2008. In other economic data, employment in the nation climbed by 46 K in August compared to an advance of 74 K jobs in the May-July period. Markets were expecting the economy to add 30 K jobs. The pair is expected to find support at 1.5889, and a fall through could take it to the next support level of 1.5783. The pair is expected to find its first resistance at 1.6085, and a rise through could take it to the next resistance level of 1.6175. Amid no economic releases from the UK today, investor sentiments would be governed by global macroeconomic news.
USD/JPY
the USD weakened 1.15% against the JPY and closed at 106.01. The Japanese currency gained ground after, Japan’s machine tool orders advanced 34.7% on an annual basis in September. Earlier today, the BoJ Governor, Haruhiko Kuroda reiterated that a weaker Yen is positive for the Japanese economy as it would help the nation’s exports to pick up. The pair is expected to find support at 104.97, and a fall through could take it to the next support level of 103.93. The pair is expected to find its first resistance at 107.29, and a rise through could take it to the next resistance level of 108.55.
USD/CHF
the USD declined 1.36% against the CHF and closed at 0.9416.
On the macro front, the ZEW survey revealed that the Swiss economic expectations index eased to a negative reading of 30.7 in October, compared to a level of -7.7 in the prior month. The pair is expected to find support at 0.9328, and a fall through could take it to the next support level of 0.9245. The pair is expected to find its first resistance at 0.9526, and a rise through could take it to the next resistance level of 0.9641.
Trading trends in the Swiss Franc today would be determined by Swiss SECO economic forecasts, scheduled in a few hours.