The dollar in the markets is steady ahead of the U.S. economic data which shows that durable goods orders for April will climb as expectations are revealing, while also new home sales for the same month are presumed to improve, and this should support the dollar in markets. Upbeat data usually encourages investors to turn to that currency as they look forward to the outlook of the nation. The Dollar Index, which gauges strength of the dollar against six major currencies, is currently trading at 86.52 while recording a high of 86.96 and a low of 86.32.
The euro extended its decline in the markets versus the dollar on resuming worries that the debt crisis in Europe will curb economic growth therefore scaring investors away from the euro. The EUR/USD is currently trading at 1.2323 between the support of 1.2290 and the resistance of 1.2390 while recording a high of 1.2387 and a low of 1.2260. Over the one-hour basis, the technical charts are showing us that the pair is being traded close to an overbought area, while the four-hour charts support the fact that the pair is consolidating.
The pound dollar is rising slightly on the daily basis despite the UK lacking major economic data, yet they released BBA loans for house purchases showing that they improved in April from the revised prior reading. The pound is pressured in the markets from the sovereign debt in the UK. The GBP/USD is currently trading at 1.4417 above the support of 1.4330 and below the resistance of 1.4460 while recording a high of 1.4446 and a low of 1.4328. Over the one-hour basis the technical charts support the upwards trend of the pair.
The USD/JPY is currently trading at 90.18 between the support of 89.60 and the resistance of 90.70 while so far marking a high of 90.49 and a low of 89.97. The volume indicator shows us there is low volume in the markets over the one-hour basis.