USD Dollar (USD)

The Dollar continued gaining versus most majors as investors turned to the Safe Haven of the Dollar as the global economy keeps struggling to end the recession. President Obama called for more federal spending to fight the unemployment. IBD/TIPP Economic Optimism was out weaker with 46.8 versus 49.5 expected. NASDAQ and Dow Jones dropped by -0.76% and -1.00% respectively as the Dollar strengthened. Crude weakened by -1.23% closing at 73.02$ a barrel and Gold (XAU) fell by -2.87% closing at 1130$ an ounce on a stronger Dollar. Today, Wholesale Inventories are expected with -0.6% versus -0.9% prior.

EURO (EUR)

The Euro continued falling versus the Dollar, breaking below the 1.48 support level. German Industrial Production came out weaker with -1.8% versus 1.1% expected and sent equity markets to declines. Overall, EUR/USD traded with a low of 1.4680 and with a high of 1.4867. French Non-Farm Payrolls will be released at night and are expected to remain with 0% change. ECB Monthly Report will also be released at night giving outlooks for various economic issues.

EUR/USD - Last: 1.4699

Resistance

1.4735

1.4896

1.5090

Support

1.4668

 

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