The U.S. dollar gained back against major currencies after falling earlier today, where worse than expected fundamentals sent investors away from higher yielding assets including higher yielding currencies and stocks, accordingly investors bought safety assets including the dollar and gold.
The U.S. Conference Board announced that consumer confidence declined in December opposite to expectations, while the S&P/CS house price index also came in worse than estimates, after showing house prices continued to decline.
The U.S. dollar index, which measures the performance of the U.S. dollar against six major currencies including the Euro, the Pound, and the Yen, rose on daily basis to trade at 80.27, compared with the opening level at 79.88, while recording a high of 80.46 and a low of 79.60, meanwhile, gold prices rose to reach $1404.21, compared with the opening level at $1384.00 an ounce, and oil prices also rose slightly to reach $91.47, compared with the opening level at $91.12 a barrel.
The Euro-Dollar pair failed to settle above the vital level at $1.3240, and accordingly, the pair declined in a bearish wave that targets the $1.3080 support level, the pair is now trading at $1.3115, compared with the opening level at $1.3189, and given that trading continues below the $1.3240, the target at $1.3080 remains valid, the pair recorded its highest today at $1.3274 and its lowest at $1.3094.
The Pound-Dollar pair also declined today, where the pair opened today's session at $1.5445 to set the highest today at $1.5511 and the lowest at $1.5345 and the pair is now trading at $1.5366. According to our technical analysts, the pair was expected to drop today to target levels at $1.5315, while this recommendation is still valid, we should note that trading above $1.5640 would cancel the downside direction.
Finally, the Dollar-Yen pair declined in today's trading, as investors sought safety, where the pair opened today's trading at ¥82.75 while recording a high of ¥82.77 and a low of ¥81.81, and the pair is now trading at ¥82.26. The pair is now trading below a vital resistance level at ¥82.30, since continuing to trade below this level would send the pair to target the ¥80.35 level, while we should note that breaching the resistance level at ¥82.95 would postpone the downside direction.