Currency markets traded mixed following German-Franco disappointments and upbeat data from Germany, as the German exports inclined by 2.5% compared with the prior decline of 2.9%, noting that the trade balance showed a surplus of 16.2 billion euro better than expected in Germany.
The French president and the German Chancellor made soft progress regarding the new budget rules, not offering offer much to the markets, but warnings on Greece over the next tranche, which was a bit negative for currency, therefore, the euro bottled up following the news as markets are still skeptical on how leaders will solve the debt crisis and when will they apply the new budget rules.
The U.S refrained from adding a bit of flavor to session, where the Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, dropped from today's opening level of 81.34 to currently trade at 81.14 recording its highest level at 81.49 and lowest at 80.95.
Gold prices consolidated below the opening levels reaching $1614.81 per ounce from the opening price of $1614.25. Oil declined heavily to reach $100.57 after opening at $102.11 per barrel.
The Euro gained against the US dollar today after opening at $1.2694 as the EURO/USD currently trades around $1.2738, while recording a high of $1.2784 and a low of $1.2664. The pair is expected to trade within the key support level of $1.2700 and key resistance level of $1.2795.
The British Pound rose slightly against the dollar today, where the pair is currently trading around $1.5431 after opening at $1.5420 levels, while recording a high of $1.5469 and a low of $1.5393. The pair is expected to trade within the key support level of $1.5420 and the key resistance level of $1.5460.
Moreover, the Greenback steadied before the Japanese Yen at today's trading, after the USD/JPY pair started trading at ¥76.89, while recording the high of ¥77.00 and a low of ¥76.75 to currently trading at ¥76.87. Meanwhile, the JPY/USD pair will be trading within the ¥76.60 support level and ¥76.95 resistance level.