Mixed trading remains to haunt the market, where the dollar is slipping against the euro, yet gaining versus the pound due to the prevailing sterling weakness. Today, the U.S. economy will release their durable goods orders, which are expected to have declined, and new home sales are also forecasted to tumble further on the month. This deadbeat data might support the dollar as investors become pessimistic and turn to the lower yielding assets which will give the federal currency a boost in the markets.
The euro is appreciating in the markets as the pair is climbing towards the resistance of 1.4708 trading at 1.4697 while recording a high of 1.4704 and a low of 1.4613. The euro zone today released its M3 money supply showing that there is low circulated liquidity in the markets but this did not impact the euro in anyway while the volume indicators on the one-hour chart is showing us there is low volume in the markets, therefore, markets remain calm ahead of the US session,
The pound is resuming its plummet against the federal currency as it is still affected by comments from the Bank of England Governor, Mervyn King, as he stated that the pound's appreciation is going to hinder the nation’s improvement. This reduced the appeal of the royal currency in the markets causing it currently trade at 1.6008 between the support of 1.5961 and the resistance of 1.6044 while recording a high of 1.6061 and a low of 1.5915.
The yen extending its gains versus the dollar as a result of speculations that Japanese investors sent home earnings ahead of the fiscal year’s first half that ends this month support a yen buyback wave. The USD/JPY is trading at 90.43 while recording a high of 91.34 and a low of 90.40; ahead, the pair faces the support at 90.30 and a resistance at 90.65.