The U.S. markets today are closed as a result of the Memorial Day Holiday, yet the dollar is declining versus major currencies while there is low volume in the markets also a result of the UK markets shut down due to the Spring Bank Holiday. The Dollar Index, which gauges strength of the dollar against six major currencies, is currently declining trading at 86.44 while recording a high of 86.82 and a low of 86.44.
The euro dollar pair is seen inclining rebounded from the biggest decline on the month since January 2009 a result of investors betting the euro should begin to gain momentum in the markets. The euro zone released its confidence indicators, showing that overall confidence indexes are mixed, and this data did not weigh on the strength of the euro. The EUR/USD pair is currently trading at 1.2317 above the support of 1.2280 and below the resistance of 1.2365 while recording a high of 1.2333 and a low of 1.2257.
Although the British economy today lacked data from the Holiday, yet the pound we see is on the rally versus the federal currency. The pair is currently trading at 1.4525 between the support of 1.4465 and the resistance of 1.4590 while recording a high of 1.4529 and a low of 1.4395. The momentum indicators over the one-hour basis are providing us with a bullish trend despite the calmness in the markets.
The yen is tumbling in markets as currently investors are buying higher-yielding currencies versus lower yielding currencies supported from the rising stock markets which indicate that economic conditions are improving. The USD/JPY pair is currently traded at 91.41 between the support of 90.70 and the resistance of 91.95 while recording a high of 91.60 and a low of 90.87. The volume indicator on the daily charts show there is low trading in markets.