The dollar is the winner in the markets rising versus major currencies as a result of the U.S. economy releasing its industrial production showing that it fell worse than expectations and this reduced the appeal of higher yielding assets and increased demand for higher yielding assets. As a result of lower industrial production, we saw that investors turned to the dollar, therefore supported the rise.
The euro is depreciating versus the dollar heavily despite the euro zone releasing its trade balance seasonally adjusted showing that the surplus widened and this should have supported the euro. The EUR/USD is being traded at 1.4869 between the support of 1.4830 and the resistance of 1.4892 while recording a high of 1.4998 and a low of 1.4852. The momentum indicators on the one-hour charts are showing us that the pair is being traded in an oversold area while there is low volume in the markets.
The pound like the euro has weakened against the federal currency although the United Kingdom released their inflation data showing that they rose for the first time since eight months therefore easing deflation risks. The GBP/USD is currently trading at 1.6800 while recording a high of 1.6872 and a low of 1.6755. For the pair we see there is a support at 1.6762 and a resistance 1.6877. The momentum indicators are providing us with a sideways wave.
The yen is declining against the dollar since currently the focus is on investors buying the federal currency. The USD/JPY is currently traded at 89.25 while recording a high of 89.41 and a low of 88.72 as there is a support at 89.11 and a resistance at 89.67.