The USD has revived in the middle of European trading in attempt to trim the losses which was recorded during the Asian session, and the rise came before the announcement of the economic data that is expected to show a fall in the ADP index for the change in the jobs of the private sector during the previous month, which supports that the data of the US jobs report wont be good, and investors are waiting today for the ISM manufacturing index which is expected to decline proving the fact that the performance of the US industrial sector is still weak,The USDIX is currently trading around 74.55 recording the intraday high of 74.63 and the low of 74.38.
The Euro fell against the USD after the economic data that assured the slowdown in the pace of economic growth in the industrial sector's performance in both Germany and the euro zone which was worse than expectations as well as the previous reading, which will increases pressures in the euro zone especially after the sovereign debt crisis that no solution yet was found about it, and how to stop it from spreading in other European countries.
The pair is currently trading around 1.4395 recording the intraday high of 1.4447 and the low of 1.4385, technically the pair is expected to keep its upward trend until reaching around 1.4650 but it must settle on above the support levels around 1.4335.
thepoundfell against theUSDaffected byeconomic datawhichconfirmed the slowdown inthe pace ofeconomic growthfor theindustrial sectorover the past month,and hopes werehangingupon it,to save thelevelsof growthin the UKafterthe significant declinein theperformance ofalleconomic sectorsas a resultofthe coalition government deciding the largestreductionsinpublic spendingsinceWorld WarII,
the pair opened today at 1.6444 recording the intraday high of 1,6495 and the low of 1.6393 and is currently trading around 1.6495 and technically its supposed to rise but settle above 1.6340 to reach goals at 1.6700.
The USD kept rising against theJapanese yenriseafter, Mr. Shirakawa(chairman of theBank of Japan)inhis speechthat Japanese companies areseekingto solvetheir problemsand get ridofthe damagecaused by the earthquakeon March 11,andJapanese companiesaimtoresumeitsnormal activities bythe end ofthisyear.
The pair is currently trading around 81.35 recording the intraday high of 81.50 and the low of 81.15, and technically the pair is trading around the main support level at 79.95 and resistance around 82.50.