The new $40 Billion takeover offer received by the Canadian Potash Corp from BHP Billiton gave some sort of support to the Canadian Dollar that is clear on the Forex Charts, the offer is the second one made by BHP Billiton after Potash's board of directors rejecting the less worth first offer, this second offer will be negotiated with Potash's share holders.
The Japanese yen fell in a slump yesterday as a result of fears concerning the stability and recovery process of the now third largest economy of the world after being surpassed by China, yet this morning the Yen regained receiving some good support from large yen buying deals.
The Dollar index which measures the USD's performance versus six major currencies fell from today's opening level of 82.39 to currently trade at 82.18 recording its highest level at 82.51 and its lowest at 81.91. Gold prices climbed reaching $1229.45 per ounce from the opening price of $1224.40. Oil slightly fell reaching $75.50.
The Euro/Dollar pair fell up to this moment as a result of the fears surrounding the Euro Zone's economy, the pair is currently traded below the opening level of $1.2884 at $1.2876 recording an intraday high at $1.2921 and a low at $1.2821, the pair is currently hovering near $1.2880 support level and resistance remains at $1.2900. If the pair breaks through the current support level it will meet a following support at $1.2830.
The Royal Pair Sterling/Dollar climbed to trade above the opening level of $1.5584 at $1.5616 recording a high at $1.5687 and a low at $1.5496. By this the pair's support level remains at $1.5605 and resistance level at $1.5710.
Finally the Dollar/Yen pair fell during today's trading to trade below the opening level of ¥85.50 at ¥85.35 recording a high at ¥85.68 and a low at ¥85.17, the pair moved the whole day in narrow ranges while it is expected to climb as long as it stays support level of above ¥84.90 while resistance remain at ¥85.70.