The U.S. dollar rose against major currencies in today's trading, where investors are still feeling optimistic after Friday's jobs report, which showed that unemployment fell to the lowest level since April 2009 to 9.0%, while weak manufacturing data weighed down on the Euro today and provided the dollar with further momentum to rise.
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 78.20, compared with the opening level at 77.90, while recording a high of 78.35 and a low of 77.85. Gold prices rose slightly to trade at $1348.75, compared with the opening level at $1344.80 an ounce, while crude oil prices declined to trade at $87.60, compared with the opening level at $89.23 a barrel.
The Euro declined against the Dollar after weak manufacturing data was released today from Europe, where the EUR-USD pair is trading at $1.3550 compared with the opening level at $1.3574, while recording a high of $1.3626 and a low of $1.3508. The pair is now trading below the $1.3575 level, and so long it remains below this level, we should expect more downside movement and the target then will be the $1.3425 support level, however, if the pair rise above $1.3575, the next target will be the $1.3680 resistance level.
The British Pound was little changed against the U.S. Dollar, where the GBP-USD pair is now trading at $1.6105, compared with the opening level at $1.6099, while the pair recorded a high of $1.6185 and a low of $1.6090. The pair is now trading below the important level at $1.6130 and so long it continues to trade below this level, the next target is set at $1.6050, however breaching the $1.6130 level to the upside would send the pair to the $1.6345 resistance level.
The U.S. Dollar rose against the Japanese Yen, where the USD-JPY pair is now trading at ¥82.43, compared with the opening level at ¥82.23, while recording a high of ¥82.47 and a low of ¥82.16. The pair is now trading around the ¥82.40 level, which suggests that the way is open to reach the ¥80.35, but the pair must remain below ¥82.40 in order for this bearish scenario to continue, however, breaching the ¥82.40 to the upside would send the pair to the resistance level at ¥83.70.