Coming Up Today (all times GMT)
- CHF Retail Sales y/y (07:15)
- USD Pending Home Sales m/m (14:00)
Economic numbers throughout the day yesterday had no major impact on equities as investors await US labor market numbers later on today. Worries about the Euro Zone banking system continue to drag down the single currency as gold inches further toward its historic high of $1248.95 of mid-May.
The EURUSD is now hovering just above its 4 year lows, however it's anybody's guess if it will hold. The troubled currency looks to be bottoming out (at least until the next crisis headline hits). Traders can expect the pair to stay range-bound between 1.21-1.25 for the coming week as markets assess their next moves.
The Prime Minister of Japan has announced his resignation, destabilizing the yen overnight as it struggles to keep many risk averse investors in line. The yen had sunk to as much as 91.78 per US dollar, before recovering back to the 91.40s, where it now comfortably rests.
Support/Resistance 91.00 /92.00