Yesterday, market witnessed a drawback of majors against the US dollar with the exception of the Yen due to profit taking dominating the market. Today majors gained back strength inclining against the US dollar. Yet the Yen shows no clear movements due to its high volatility. The Euro is settling around 1.4198 levels whereas the Sterling is trading around the 2.0362 levels while the yen reached to the 114.56 levels.
With no technical movements in the picture, things are back to normal where the Euro is gaining strength against the US dollar recording a high of 1.4218 and a low of 1.4172. The market awaits today for the Industrial New Orders S.A for the month of August coming from the Euro Zone where analysts expect a rise of 0.9% higher than the prior fall coming at 4.0%. As for the yearly reading, analysts expect a rise of 6.0% lower than the previous rise of 10.9.
The GBP is also back into action gaining its strength back against the US dollar. Though no clear direction is yet to be seen, the market shows a slight decline against the US dollar at the hour of this report pushing the GBP/USD pair to record a low of 2.0322 afterwards inclining to record a high of 2.0387. Today, market awaits for the UK's CBI Industrial Trend for the month of October where analysts expect a reading of 4 down from the previous reading of 6.
Finally, the Yen is fluctuating within narrow ranges with no clear direction of movement. The USD/JPY pair recorded today a high of 114.80 and a low of 114.23