The U.S. dollar rose against major currencies on Monday amid the lack of economic news from the United States, where investors were still feeling pessimistic after Friday's jobs report brought huge disappointment to markets, and fears over the outlook for global growth continued to dominate investors, which forced them to invest in lower yielding assets and safe havens.
The U.S. Dollar index, which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, rose on daily basis to trade at 73.91, compared with the opening level at 73.74, while recording a high of 73.92 and a low of 73.68. Gold prices extended their rise as investors sought safety, to trade at $1551.38, compared with the opening level at $1544.31 an ounce, while crude oil prices declined to trade at $99.12, compared with the opening level at $100.42 a barrel.
The Euro fell against the Dollar, where the EUR-USD pair is trading at $1.4612, compared with the opening level at $1.4653, while recording a high of $1.4658 and a low of $1.4593. The pair is now trading above the $1.4560 level, and so long it remains above this level, we should expect more upside movement and the target then will be the $1.4800 resistance level, however, if the pair drops below $1.4560, the next target will be the $1.4455 support level.
The British Pound fell as well today against the U.S. Dollar, where the GBP-USD pair is now trading at $1.6360, compared with the opening level at $1.6453, while the pair recorded a high of $1.6460 and a low of $1.6342. The pair is now trading below the important level at $1.6370 and so long it continues to trade below this level, the next target is set at $1.6210, however breaching the $1.6370 level to the upside would send the pair to the $1.6495 resistance level.
The U.S. Dollar was little changed against the Japanese Yen, where the USD-JPY pair is now trading at ¥80.20, compared with the opening level at ¥80.23, while recording a high of ¥80.39 and a low of ¥79.97. The pair is now trading between the support at ¥79.65 and the resistance at ¥80.75, where breaching the support would send the pair to the downside and target ¥77.70, while breaching the resistance would activate the next target at ¥82.50.