USD Dollar (USD)
The Dollar advanced against the Euro for the first time in five days as U.S. stocks erased gains, reviving demand for relative safety. Analysts are contributing to the positive notion by saying that raising the rate will increase the confidence. NASDAQ and Dow Jones closed almost unchanged -0.14% and 0.03%. Crude oil rose to the highest rate in the last 10 months, closing at 74.37$ a barrel. Gold (XAU) weakened by 1.2% closing at 944$ an ounce. Today, CB Consumer Confidence is expected at 48.10 vs. 46.60 prior.
The Euro closed almost unchanged versus the
Dollar after ECB President Jean-Claude Trichet said that mounting evidence of an economic recovery should be taken with caution, suggesting they won’t rush to reverse their emergency stimulus. European industrial orders increased more than economists forecast in June, the latest indication that the worst recession in six decades is easing. Overall EUR/USD traded with a low of 1.4281 and with a high of 1.4359. Today, German GDP is expected to remain at 0.30%.
British Pound (GBP)
The Pound dropped versus the Dollar trading with a low of 1.6391 and with a high of 1.6544. The Pound also declined to an 11-week low versus the Euro after Industrial Ne Orders in Europe beat expectations. Today, BBA Mortgage Approvals is expected at 37.90K vs. 35.20K prior.
Japanese Yen (JPY)
The yen continued to weaken against the Dollar as risk appetite remained high and pushed the investors to currencies with a higher yield. USD/JPY traded with a low of 94.21 and with a high of 95.06. No economic data expected today.
Canadian dollar (CAD)
The Canadian dollar touched the strongest level in more than two weeks after a government report showed the nation’s retail sales increased in June five times as fast as economists forecast. Overall USD/CAD traded with a low of 1.0725 and with a high of 1.0825, No economic data expected today.