Asian and European trading sessions:
Euro: The euro exchange rate fell today under the influence of European Union officials’comments. The euro fell against the U.S. dollar when the head of the Board of the Eurozone finance ministers Jean- Claude Juncker said that the rate of the single European currency is too high. Mr. Juncker was warning during the past half year that the strengthening of the single currency can bring a new threat to the European economy, which has just started to recover from the debt crisis. The EUR / USD pair declined during the Asian session and dropped to the previous day's low of $1.3270. However, the single currency eliminated losses against the dollar when the member of the European Central Bank Ewald Nowotny noted in his speech that the current rate of the euro against the dollar is not a problem because the debt crisis in the euro zone - is not a crisis of the European single currency, yet the problems of individual countries, members of currency union. The EUR / USD pair during the European session jumped to the maximum of $1.3324 then dropped to a new intraday low of $ 1.3257.
Japanese Yen: Today, support for the Japanese currency was provided by the released data on Machine Orders in Japan. The best leading indicator of business capital spending showed the biggest increase since July, and rose by 3.9% in November from the previous month. The USD / JPY pair fell below Y87.80 during the European session. The pair continued its two-day down move in response to concerns that the outcome of the January meeting of the Bank of Japan, which will take place next week, would betray the expectations of many investors.
American trading session:
U.S. Dollar: The currency rose on positive expectations from the U.S. companies earning statements. Markets optimistically expected positive data from JP Morgan Chase, Goldman Sachs and other institutions. The upcoming news gave support for the growth of the dollar.
British Pound: The pound fell today against the dollar and other major currencies after the World Bank has lowered the forecast for global economic growth. All these forecast’s results came out that negative amid the issue of implementing the austerity measures, high unemployment, and the low level of confidence in the business, which put pressure on the development of economics of developed countries. The forecast of the growth of the global economy expected to grow by 2.4% this year, after rising by 2.3% in 2012. The GBP / USD pair fell to the new monthly low of $ 1.5974 during the European session.
Gold: The Price of gold futures tested ??yesterday week high. During this day the price fluctuated between 1674.00 and 1683.8 dollars per ounce.
Oil: The Oil prices rose today as government data showed that U.S. crude inventories fell unexpectedly last week. Prices rose by 1.2% after the U.S. Energy Department reported that crude oil inventories fell by 951K barrels while analysts had expected reserves will increase by 2.2 million barrels. The February WTI futures price fell to 94.32 dollars a barrel on the NYMEX today.
TECHNICAL ANALYSIS FOR 17.01, 2013
EURUSD
The pair could not stay above 1.33143 and rolling back to 1.31674.
Resistance: 1.33143, 1.34882, 1.35984
Support: 1.31674, 1.30277, 1.28630
GBPUSD
The pair has broken 1.60322 and aiming to the median line at 1.59222.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
The pair has reached the Moving Average (100) at 0.93069. If the pair stays above this level the pair will rise to 0.93949.
Resistance: 0.93069, 0.93949, 0.95074
Support: 0.92026, 0.91079, 0.89635
USDJPY
The pair has started corrections. The first level is at 87.728, the next at 86.861. The pair has unclosed gap at 84.866 and this will support deep corrections.
Resistance: 88.640, 90.045, 92.580
Support: 87.728, 86.861, 85.960
AUDUSD
The pair couldn’t stay above 1.05332 and may decline to 1.04407.
Resistance: 1.05332, 1.06164, 1.07005
Support: 1.04407, 1.03535, 1.02558
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