Euro: The EUR / USD pair traded in a range of $ 1.3300-$1.3330 during the Asian session. The data showed that the producer price inflation in Germany rose in December with slower pace than expected did not influence much the euro dynamics against the dollar. As it was published today, the price of industrial producer prices rose by 1.5 % annually compared with growth of 1.4% in November and projection of 1.7%. However, in monthly terms the prices fell by 0.3%, compared with a fall of 0.1% in the past month with experts' expectations at 0.0%. The EUR / USD pair grew to range of $ 1.3300 -$ 1.3332 during the European session.
British Pound: The pound rose against the dollar, the GBP / USD during the European session. The pair rose to $ 1.5892. This entire positive was associated with the publication of the data, which showed that house prices in the UK rose in January, along with the number of new sellers. Also, the improved mood among market participants supported the currency today. According to the report, the Rightmove House Prices in the first week of January rose 0.2 %, compared with December’s fall of 3.3%. The result also confirmed that the annualized prices were 2.4% higher than during the same month last year.
Japanese Yen: The began today two-days meeting where the representatives of Bank of Japan will discuss new measures to stimulate the economy put the weakness of yen on hold. The yen rose retreating from the lowest level in 2.5 years. Most economists expect the Bank of Japan will extend a program of asset purchases by 10 trillion yen ($ 112 billion). During the European session the USD / JPY pair fell to Y89.42.
American trading session:
The U.S. stock markets did not work today in observance of Martin Luther King Day.
Swiss Franc: The currency continued to strengthen against the euro. The uptrend was resumed after hitting on Friday the lowest level since the Swiss National Bank imposed restrictions on the currency in 2011.
Canadian Dollar: The USD / CAD traded almost unchanged after the publication of the Canadian economic performances. The Canadian dollar continued trading around CAD0.9930 against the U.S. dollar after the Wholesale Sales report revealed that the value of sales made by Canadian wholesalers increase by 0.7% in November, exceeding the forecast of 0.5%.
British Pound: The GBP / USD pair dropped to the lowest level since September 2012 to $ 1.5805.
Gold: The price of gold was kept in the range of 1686- 1691dollars per ounce in anticipation of announce of further easing measures by the Bank of Japan. The February futures price of gold closed at $1689 today on COMEX.
Oil: The Futures of West Texas Intermediate crude oil fell by 0.5% on NYMEX amid expectations of the results of the meeting of the European finance ministers and the vote of U.S. lawmakers on the budget. The price was able to grow then to 95.45 dollars per barrel during the same session.
TECHNICAL ANALYSIS FOR 22.01, 2013
EURUSD
The pair has drawn the Pennant. If the pair breaks 1.33576 the pair will workout the figure and may rise to Fibonacci retracement at 1.34882.
Resistance: 1.34882, 1.35984, 1.37486
Support: 1.33143, 1.31674, 1.30277
GBPUSD
The pair has declined to the strong support at 1.58543.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has tested resistance 0.93949 and rolled back to 0.93069. If the pair declines below 0.93069 the pair will decline to 0.92026.
Resistance: 0.93069, 0.93949, 0.95074
Support: 0.92026, 0.91079, 0.89635
USDJPY
The pair’s support is 88.640.
Resistance: 90.045, 91.254, 92.580
Support: 88.640, 87.728, 86.861
AUDUSD
The pair has broken 1.05332 and aiming to 1.06164.
Resistance: 1.06164, 1.07005, 1.07739
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