News and Events
The euro continued its gains today as good results of Spanish and French bond auctions supported risk appetite. Investors were cautious as they awaited the ECB rate decision and U.S labor data.
The ECB left interest rates unchanged at 1% as expected and extended its liquidity program. The ECB decision and Trichet’s comments later did not have a significant impact on euro.
Jobless claims in the US fell last week but were still too high to indicate any significant change in the US labor market. The USD pared losses versus the JPY after a report in the US showed that pending home sales unexpectedly rose in July. US stocks opened little changed as consumer shares rose.
Technical Analysis
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EUR/USD
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GBP/USD
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EUR/GBP
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USD/JPY
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EUR/JPY
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USD/CAD
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DOW
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Res. 2
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1.2970
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1.5490
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0.8365
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84.85
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109.00
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1.0632
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10340
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Res. 1
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1.2848
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1.5455
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0.8335
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84.60
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108.60
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1.0574
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10280
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Market
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1.2819
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1.5392
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0.8327
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84.13
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107.86
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1.0526
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10263
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Sup. 1
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1.2777
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1.5350
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0.8285
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83.70
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107.45
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1.0510
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10215
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Sup. 2
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1.2743
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1.5335
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0.8260
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83.55
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107.00
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1.0467
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10100
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GBPUSD (1HR)
The GBP continued weakening today. On the 1 hour chart a downward channel is trying to resume. The nearest support is the session low 1.5350 and then yesterday's low at 1.5335. Going bellow it should extend losses further down towards psychological level of 1.5300. On the upside, resistance levels lie at 1.5455/60 intra-day level, and 1.5490 yesterday’s high.
Disclaimer
This research report or summary has been prepared by TFI Markets from information believed to be reliable. Such information has not been independently verified and no guarantee, representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. This report is provided for information purposes only. Nothing in this report should be considered to constitute investment advice. It is not intended, and should not be considered, as an offer, invitation, solicitation or recommendation to buy or sell any of the financial instruments described herein. TFI Markets accepts no liability whatsoever for any direct or consequential loss arising from the use of this document or its contents.
Disclaimer
This research report or summary has been prepared by TFI Markets from information believed to be reliable. Such information has not been independently verified and no warranty, representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. This report is provided for information purposes only. Nothing in this report should be considered to constitute investment advice. It is not intended, and should not be considered, as an offer, invitation, solicitation or recommendation to buy or sell any of the financial instruments described herein. TFI Markets accepts no liability whatsoever for any direct or consequential loss arising from the use of this document or its contents.
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