Daily Review 12/10/2010

Today’s Forex Trading review:

USD Dollar (USD)

The Dollar rose against the other major currencies on thin trading volumes, partly as a result of the Columbus Day holiday in the US. However, the Dollar sentiment remained negative as investors with Federal Reserve stimulus concerns, awaited the minutes of the Federal Reserve’s policy meeting. NASDAQ and Dow Jones were very stable due to Columbus day, advancing by 0.02% and 0.03%, respectively. Crude oil weakened by 0.9%, closing at $81.90 a barrel. Gold (XAU) increased to a new historic record, strengthening by 0.7%, and closing at $1354.40 an ounce. Today, FOMC Meeting Minutes are to be released.

EURO (EUR)

The Euro declined against the Dollar after a quiet day where there was little data that could affect the symbol. It probably declined as a correction on this pair, because technical indicators showed it advanced last week to an eight month high. The momentum of the EUR/USD is still strongly bullish for the euro, but the pair has fluctuated around 1.3900 levels during the past three days. As long as it’s above 1.3800 levels, the momentum continues to be positive. Overall, EUR/USD traded with a low of 1.3866 and with a high of 1.3999. Today, ECB President Trichet Speaks.

EUR/USD – Last: 1.3880

British Pound (GBP)

The Pound weakened against the Dollar and Euro as investors speculated that the Bank of England will restart its debt-purchase program to bolster the economic recovery. The main trend of the GBP/USD is bullish facing a resistance around 1.6000, and if the price crosses this level, the pair will continue with its uptrend. Overall, GBP/USD traded with a low of 1.5867 and with a high of 1.5963. Today, CPI is expected to remain at 3.1% and the Trade Balance is expected to weaken from -8.70B to -8.0B.

USD/JPY-Last: 81.92

Canadian dollar (CAD)

The Canadian Dollar weakened versus the US Dollar as crude oil prices retreated from recent highs, weakening the Canadian Dollar as well. The momentum of the USD/CAD is still strongly negative for the US Dollar, despite the US Dollar rising yesterday. As long as the USD/CAD below 1.0250 levels, the momentum is bearish and the next support on the daily chart is located at 1.0060. Overall, USD/CAD traded with a low of 1.0093 and with a high of 1.0150. No economic data is expected today.

USD/CAD – Last: 1.0144

Daily Review 05/10/2010

Today’s Forex Trading review:

USD Dollar (USD) – The Dollar rose against the major currencies despite macro economic data showing that Pending Home Sales came out 4.3% better than the expected 2.8% and concerns about recovery still remain. The Stock Markets in the U.S. closed negative with the Dow Jones losing 0.72% and the NASDAQ falling by 1.11%. Crude Oil jumped above $82.30, but dragged back and closed almost unchanged at $81.40 a barrel. Gold (XAU) touched another record high at $1320, but closed with a small loss at $1315 an ounce. Today, The ISM Non-Manufacturing Index is expected at 51.8 vs. 51.5 previously.

EURO (EUR) – The Euro declined versus the Dollar as overbought conditions and profit taking led the market. Also, the PPI came out at 0.1%, worse than the expected 0.2%, which added to the Euro’s weakness. Trading below the 1.3720 resistance level might extend the decline in the pair. Overall, EUR/USD traded with low of 1.3643 and with a high of 1.3802. Today, Retail Sales are expected at 0.2% vs. 0.1% previously.

EUR/USD – Last: 1.3650

British Pound (GBP) – The Pound showed some strength against the dollar as it became trapped in a range, fluctuating around the 1.58 zone. The constructions PMI came out at 53.8, better than the expected 51.7. Trading below the 1.5880 resistance level might extend the decline in the pair. Overall, GBP/USD traded with a low of 1.5746 and a high of 1.5867. Today, the Services PMI is expected at 51.2 vs. 51.3 previously.

GBP/USD – Last: 1.5814

Japanese Yen (JPY) – The USD/JPY pair is trapped in a tight range fluctuating around the 83.5 level and seems like fresh news needed to move this pair in any direction. The USD/JPY has broken the support level that it had at 84.20 levels. Therefore, the momentum is negative again for the dollar. Overall, USD/JPY traded with a low of 83.16 and with a high of 83.85. Today, the Interest rate decision is expected unchanged at 0.1%.

USD/JPY-Last: 83.53

Canadian dollar (CAD) – The U.S. Dollar gained against Canada’s dollar following the trend of the USD’s strength in the market. The pair is back to trading above the 1.02 zone. Trading above the support level of 1.0220 might push the pair higher. Overall, USD/CAD traded with a low of 1.0178 and with a high of 1.0243. No economic data is expected today.

USD/CAD – Last: 1.0251

Daily Review 29/09/2010

Today’s Forex Trading review:

USD Dollar (USD)

The Dollar fell against most major currencies after American home prices rose at a slower pace in July (3.20% vs. 4.20% prior) and U.S. consumer confidence which fell (48.5 vs. 52.5 forecast), increasing the possibility the Fed will restart purchases of government debt. NASDAQ and Dow Jones rose by 0.41% and 0.43% respectively, crude oil weakened by 0.4%, closing at 76.18$ a barrel, Gold (XAU) continued to rise and made a new record (above 1309$ )during the session, in the end strengthened by 0.8% , closing at 1308.3$ an ounce. No major economic data expected today.

EURO (EUR)

The Euro traded at almost a five month high against the Dollar when U.S. home prices came out worse than expected in July, fueling speculation the Federal Reserve will ease monetary policy. The momentum of the EUR/USD is still strongly bullish for the euro, as long it’s above 1.3400 level a long position is preferred, the next resistance line on the daily chart is 1.3700,the RSI and the 10 moving average indicators support up trend as well . Overall, EUR/USD traded with a low of 1.3381 and with a high of 1.3595. No economic data expected today.

EUR/USD – Last: 1.3589

British Pound (GBP)

The Pound weakened against the Euro and fluctuated versus the Dollar after Bank of England policy maker Adam Posen said that the central bank should resume its asset purchase program to boost the economy. The main resistance of the GBP/USD on the daily chart is still 1.6000, the momentum is bullish as long the price above 1.5700, the main support on the one hour chart is 1.5740 if the pair breakdown this rate probably it will continue to decline to 1.5500. Overall, GBP/USD traded with a low of 1.5718 and with a high of 1.5895. Today, Net Lending to Individuals is expected to rise from 0.3B to 0.5B.

GBP/USD – Last: 1.5825

Japanese Yen (JPY)

The Yen strengthened and was near a two week high against the Dollar after reports showed that home U.S. prices dropped for the first in four months. The USD/JPY has broken the support level that it had at 84.20 level therefore the momentum is negative again for the dollar. Overall, USD/JPY traded with a low of 83.68 and with a high of 84.34. No economic data expected today.

USD/JPY-Last: 83.72

Canadian Dollar (CAD)

The Canadian Dollar touched the weakest level since March against the euro and closed almost unchanged versus the Dollar amid speculation that the Bank of Canada may keep the benchmark interest rate on hold at its next meeting, also the Canadian stocks rose to a five months high ,supported a weaker Canadian Dollar as well. The momentum of the USD/CAD is still negative for the US Dollar although it’s fluctuating in the last few days, as long the USD/CAD below 1.0400 levels a short position is preferred, the next support on the daily chart is located at 1.0200. Overall, USD/CAD traded with a low of 1.0285 and with a high of 1.0361. No major economic data expected today.

USD/CAD – Last: 1.0282

Daily Review 28/09/2010

Today’s Forex Trading review:
USD Dollar (USD)

The Dollar traded with a narrow range and closed almost unchanged against most major currencies because of speculation that the Federal Reserve will take more steps to ease monetary policy, damping demand for U.S. assets. The NASDAQ and Dow Jones weakened by 0.48% and 0.44% respectively, while crude oil remained unchanged, closing at $76.50 a barrel. Gold (XAU) continued to rise, strengthening by 0.1%, and closing at $1298.60 an ounce. Today, CB Consumer Confidence is expected at 52.5 vs. 53.5 prior.

EURO (EUR)

The Euro weakened a bit from a five month high against the Dollar as renewed signs of debt problems at European banks and countries such as Ireland and Portugal reduced demand for assets in the European zone. The momentum of the EUR/USD is still strongly bullish for the euro, and as long as it’s above 1.3350 levels a long position is preferred. The next resistance line on the daily chart is at 1.3700, and the RSI indicator supports an uptrend as well. Overall, EUR/USD traded with a low of 1.3425 and with a high of 1.3506. Today, German Prelim CPI is expected to weak from 0.0% to -0.2%.

EUR/USD – Last: 1.3459

British Pound (GBP)

The Pound also stayed almost unchanged against the dollar after a quiet day of news and data from these countries. The main resistance of the GBP/USD on the daily chart is 1.6000, and the momentum is bullish as long as the price is above 1.5750. Overall, GBP/USD traded with a low of 1.5787 and with a high of 1.5867. Today, Current Account is expected to remain at -9.60B, and Final GDP is expected to stay at 1.2%.

GBP/USD – Last: 1.5825

Japanese Yen (JPY)

The Yen traded with a very small range versus the Dollar after there was no important news that influenced this pair. The USD/JPY has been fluctuating around 84.50 over the last four days. The support on the one hour chart is at 84.20, and if the pair breaks below the support line, the trend will continue to decline. Overall, USD/JPY traded with a low of 84.11 and with a high of 84.37. No economic data is expected today.

USD/JPY – Last: 84.24

Canadian dollar (CAD)

The Canadian Dollar fell from a near six week high versus the Dollar, as U.S. stocks and crude oil declined and investors speculated that the Bank of Canada Governor Mark Carney may be unwilling to raise interest rates further. The momentum of the USD/CAD is still negative for the US Dollar, and as long the USD/CAD is below 1.0400 levels, a short position is preferred. The next support on the daily chart is located at 1.0200. Overall, USD/CAD traded with a low of 1.0223 and with a high of 1.0305. No economic data is expected today.

USD/CAN – Last: 1.0291

Daily Review 22/09/2010

Today’s Forex Trading review:

USD Dollar (USD) – The Dollar was down against the other major currencies after the Federal Reserve said it’s willing to ease monetary policy further to bolster the U.S. economy. In addition, the interest rate stayed at 0.25% and the Housing Starts data increased in august (0.60M vs. 0.55M forecast), easing concerns that the recovery in the world’s largest economy may be stumbling. The NASDAQ weakened by 0.28% and the Dow Jones fluctuated around 0, closing at + 0.07%. Crude oil weakened by 1.8%, closing at $73.50 per barrel. Gold (XAU) rose to another new record during the session (above 1290$), dropping some by the end, but still strengthening by 0.4% to close at $1283 an ounce. No major economic data is expected today.

EURO (EUR) – The Euro strengthened to a six week high against the Dollar as a result of statements by members of the Federal Reserve’s Open Market Committee. The momentum of the EUR/USD is still bullish for the euro, and as long it is above the 1.3100 level, a long position is preferred. The next resistance line on the daily chart is 1.3340, and the 10 moving average supports an uptrend as well. Overall, EUR/USD traded with a low of 1.3059 and with a high of 1.3286. Today, Industrial New Orders are expected to become negative from 2.5% prior to -1.20% forecast.

EUR/USD – Last: 1.3297

British Pound (GBP) – The Pound weakened versus the Dollar and Euro during the European session, dropping against the Euro to the lowest level in two months, as a report showed the U.K.’s budget deficit widened more than forecast in August. At the end of the US session, the pound succeeded to rebound some versus the Dollar after the US Federal Reserve statements. The main support of the GBP/USD on the daily chart is still 1.5500, and if the pair goes below this rate, it will probably continue to decline. The resistance on the one hour chart is 1.5650, and if it goes above this line, it will continue to rise. Overall, the GBP/USD traded with a low of 1.5503 and with a high of 1.5644. Today, MPC Meeting Minutes will be released.

GBP/USD – Last: 1.5664

Japanese Yen (JPY) –The Yen reached the strongest level against the Dollar since Sept. 15, as a result of the interest rate statement by U.S. Federal Reserve policy makers. The USD/JPY has been fluctuating the past few days. The support on the daily chart is 84.75, and if the pair goes below the support line, the trend will become bearish. Overall, USD/JPY traded with a low of 84.98 and with a high of 85.72. No economic data is expected today.

USD/JPY-Last: 84.87

Canadian dollar (CAD) – The Canadian Dollar rose against the US Dollar after the Federal Reserve said it is willing to ease monetary policy further to boost the economy, which increased demand for assets that benefit from global growth. The momentum of the USD/CAD is still negative for the US Dollar, and as long the USD/CAD below 1.0350 levels, a short position is preferred. The next support on the daily chart is located at 1.0200. Overall, USD/CAD traded with a low of 1.0216 and with a high of 1.0331. Today, Core Retail Sales are expected to rise from -0.5% to +0.4%, and the Leading Index is expected at 0.5% vs. 0.4% prior.

USD/CAD – Last: 1.0248

Daily Review 20/09/2010

Today’s Forex Trading review:
USD Dollar (USD)

The Dollar strengthened against most of the other major currencies as a correction of the last few days. Core CPI came out at 0% vs. 0.10% forecast, and Michigan Inflation Expectations came out at 2.20% vs. 2.70% forecast. NASDAQ and Dow Jones continued their uptrend for the third week in a row, closing at +0.5% and +0.1% respectively. Crude oil weakened for the fourth day in a row, falling by 1.2%, to close at $73.66 a barrel. Gold (XAU) rose to a new record high of $1282, strengthening by 2.9% comparing to last week, but finally closing at $1279 an ounce. Today no major reports are expected.

EURO (EUR)

The Euro continued to stay near 1.3000 levels as it did in last week’s advance versus the Dollar. This occurred as risk appetite waned amid fresh fears over the euro zone sovereign debt crisis. The momentum of the EUR/USD is still bullish for the euro, and as long it’s above 1.3000 levels, a long position is preferred. Also, the CCI indicator is above +100, which supports an uptrend as well. Overall, EUR/USD traded with a low of 1.3031 and with a high of 1.3067. No major economic data is expected today.

EUR/USD – Last: 1.3071

British Pound (GBP)

The Pound continued to stay near its strongest level versus the US dollar in more than a month. The main resistance of the GBP/USD on the daily chart is 1.57, and if the pair crosses this rate, it will continue its upward trend. If not, we could see the pair continue to decline to the 1.5580 level. Overall, GBP/USD traded with a low of 1.5592 and with a high of 1.5648. No major economic data is expected today.

GBP/USD – Last: 1.5664

Japanese Yen (JPY)

The yen fluctuated near the 85.70 levels for a fourth day versus the dollar on speculation the U.S. housing market is stagnating, which is increasing demand for safer assets. The momentum of the USD/JPY is still strongly bullish these days, and the resistance on the daily chart is at 86. One thing to note is that there is a pennant shape forming. Overall, USD/JPY traded with a low of 85.593 and with a high of 85.929. No economic data is expected today due to a bank holiday.

USD/JPY-Last: 85.71

Canadian dollar (CAD)

The Canadian Dollar weakened against the US dollar as Oil fell more than 1% and drifted the Canadian Dollar along with it. The momentum of the USD/CAD is still negative for the US Dollar, and as long the USD/CAD is below 1.0400 levels, a short position is preferred. The next resistance on the one hour chart is located at 1.0350. Overall, USD/CAD traded with a low of 1.0216 and with a high of 1.0350. Wholesale Sales is expected to come in at 0.60% versus -0.30% prior.

USD/CAD – Last: 1.0312

Daily Review 16/09/2010

Today’s Forex Trading review:

USD Dollar (USD)

The Dollar weakened against most majors after US Industrial production fell more than expected in August (0.2% vs. 0.3% forecast vs. 0.6% in July). Additionally, the Empire State Manufacturing Index also fell more than expected (4.1 vs. 8.7 forecast) and other mixed data came out during the session, which supported negative sentiment for the Dollar. The NASDAQ and Dow Jones strengthened by 0.50% and 0.44% respectively. Crude oil decreased by 1.0% to close at $76 a barrel, and Gold (XAU) weakened by 0.2%,closing at $1268.70 an ounce. Today, Unemployment Claims are expected to rise from 451K to 463K, PPI is expected at 0.3% vs. 0.2% prior, Treasury Sec Geithner Speaks, and TIC Long-Term Purchases are expected to weaken from 44.4B to 37.9B.

EURO (EUR)

The Euro traded near a one month high against the Dollar amid speculation that the Federal Reserve will buy additional Treasury securities this year to help sustain growth as the economic recovery falters. The momentum of the EUR/USD has been bullish the past few days, and as long it\’s above 1.2950, the trend continues to be positive for the Euro. Overall, EUR/USD traded with a low of 1.2955 and with a high of 1.3037. Today, the Trade Balance is expected at -0.7B vs. -1.6B prior.

EUR/USD – Last: 1.2992

British Pound (GBP)

The Pound strengthened against the Dollar, rising to a 4 week high following a flurry of mixed U.S. economic data, which supports higher yielding assets. The main resistance of the GBP/USD on the daily chart is 1.5700, and if the price trades above this level, the momentum will continue to be bullish .Overall, GBP/USD traded with a low of 1.5448 and with a high of 1.5652. Today, Retail Sales are expected to weaken from 1.1% to 3.3%, and CBI Industrial Order Expectations are expected at -12 vs. -14 prior.

GBP/USD – Last: 1.5615

Japanese Yen (JPY)

The Yen weakened against all major currencies, falling to a 12 day low versus the Dollar. This came after Japan\’s government said it intervened in currency markets for the first time in 6 years in order to stem the Yen\’s sharp gains. The trend of the USD/JPY is opposite from downwards to upwards since yesterday, therefore a long position is preferred, and the next resistance on the daily chart is located at 86.50 levels. Overall, USD/JPY traded with a low of 82.87 and with a high of 85.77. No economic data is expected today.

USD/JPY-Last: 85.28

Canadian dollar (CAD)

The Canadian Dollar rose a bit versus the US Dollar after weaker than forecast manufacturing data was released in the U.S., renewing Canada’s concerns about the economy and its largest trading partner. As long the USD/CAD is below 1.0400 levels, a short position is preferred and the momentum is strongly bearish. The next support on the daily chart is at 1.0200. Overall, USD/CAD traded with a low of 1.0251 and with a high of 1.0320. No economic data is expected today.

USD/CAD – Last: 1.0274

Daily Review 09/09/2010

Today’s Forex Trading review:
USD Dollar (USD)

The Dollar weakened against the major currencies as risk appetite seemed to push the investors sell the USD and favor other higher yielding currencies. The Stock Markets in U.S. closed positive with Dow Jones and NASDAQ rising by 0.45% and 0.9% respectively. Crude Oil climbed for the first time after 3 days of weakness and closed near the 75$ a barrel. Gold (XAU) declined after reaching a high of 1262.4$ and closed at 1254$ an ounce. Today, the Trade Balance is expected at -47.2B vs. -49.9B previously. The Initial Jobless Claims is expected at 470k vs. 472K previously.

EURO (EUR)

The Euro gained versus the Dollar after an attempt to break the 1.2650 area and soon after recovered to trade back above the 1.27 level. The German Industrial Production came out 0.1% worse than expected 1.1%. Holding above the support level of 1.2670 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2658 and with a high of 1.2762. Today, the German CPI is expected unchanged at 0%. The French NFP is expected unchanged at 0.2%. The ECB Monthly Report will come out.

EUR/USD – Last: 1.2695

British Pound (GBP)

The Sterling soared versus the Dollar reaching 1 week high near 1.5530 zones but failed to hold this level and to trade below the 1.55 levels. The Manufacturing Production came out 0.3% unchanged as expected. The Industrial Production came out 0.3% worse than expected 0.4%. Holding above the support level of 1.5430 keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5342 and with a high of 1.5530. Today, the Trade Balance is expected at -7.5B vs. -7.4B previously. The Interest Rate Decision is expected unchanged at 0.5%.

GBP/USD – Last: 1.5460

Japanese Yen (JPY)

The USD/JPY pair reached new 15 year low at 83.32 and since then it\’s trading in a narrow range capped under the 84 level. The BSI Large Manufacturing Index came out 13.3 better than expected 6.3. Breaching above the 84 level might turn the momentum to positive for the pair. Overall, USD/JPY traded with a low of 83.64 and with a high of 84.01. Today, the GDP is expected at 0.4% vs. 0.1% previously.

USD/JPY-Last: 83.74

Canadian Dollar (CAD)

Canada\’s Dollar gained versus the U.S Dollar as BOC raised the interest rate by 0.25% from 0.75% to 1% and signaled it may increase them again as the nation’s economy continues to grow. The Ivey PMI came out 65.9 better than expected 55.9 also supporting the CAD. Only breaking the 1.0340 support area might extend the gains for the pair otherwise a rebound could be seen. Overall, USD/CAD traded with a low of 1.0344 and with a high of 1.0507. Today, the Housing Starts are expected at 185K vs. 189K previously. The Trade Balance is expected at -0.8B vs. -1.1B previously.

USD/CAD – Last: 1.0387

Daily Review 08/09/2010

Today’s Forex Trading review:

USD Dollar (USD) – The Dollar gained against most major currencies as speculation economic growth will slow in the European zone, supported safety assets like the Dollar and the Yen. NASDAQ and Dow Jones weakened by 1.11% and 1.03% respectively , crude oil weakened by 0.36%, closing at 73.8$ a barrel, Gold (XAU) declined by 0.22% ,closing at 1256.8$ an ounce. Today, Beige Book.

EURO (EUR) – The Euro weakened for a second day versus the Dollar as stocks and commodities dropped amid concern Europe’s sovereign debt crisis may worsen. The EUR/USD has broken the support level at 1.2800 and crossed the 10 moving average on the daily chart, therefore the momentum became bearish. Overall, EUR/USD traded with a low of 1.2677 and with a high of 1.2819. Today, German Industrial Production is expected to rise from -0.6% to 1.1%.

EUR/USD – Last: 1.2695

British Pound (GBP) – The Pound extended losses against the Dollar touched a 6 week low, as risk sentiment fell amid renewed concerns over the global economic recovery. The GBP/USD continues to trade in negative range, therefore the momentum is bearish and the next support level on the daily chart is located at 1.5300,if the pair breaks this rate it will continue with its downwards trend. Overall, GBP/USD traded with a low of 1.5296 and with a high of 1.5424. Today, Manufacturing Production is expected to be unchanged at 0.30%, Industrial Production is expected to weak from -0.50% to 0.40%.

GBP/USD – Last: 1.5376

Japanese Yen (JPY) –The Yen rallied to a 15 year high against the Dollar as slowing economic growth increased demand for the Yen as a refuge .The main momentum of the USD/JPY is still strongly bearish but it’s still fluctuating around 84.0 level and has not succeeded to break the main support at 83.50. Overall, USD/JPY traded with a low of 83.51 and with a high of 84.26.Today, BOJ Monthly Report.

USD/JPY-Last: 83.60

Canadian dollar (CAD) – The Canadian Dollar fell the most in two weeks against the Dollar as crude oil declined and concern the global economy may weaken, boosted the investors to sell higher yielding assets. The momentum of the USD/CAD became a positive for the US Dollar ,As long the USD/CAD above 1.0400 levels a long position is preferred, the next resistance on the one hour chart is located at 1.0560. Overall, USD/CAD traded with a low of 1.0352 and with a high of 1.0484. Today, Interest Rate Decision is expected to rise from 0.75% to 1.00%,Building Permits are expected to weak from 6.5% to -4.2%, Ivey PMI is expected at 55.9 vs. 54.0 prior.

USD/CAD – Last: 1.0473

Daily Review 07/09/2010

Today’s Forex Trading review:

USD Dollar (USD) – The Dollar closed mixed against the other major currencies amid low trading volume, as U.S. markets were closed for the Labor Day holiday. The NASDAQ and Dow Jones were closed as a result of the holiday. Crude oil declined by 0.2%, closing at $74.06 a barrel while Gold (XAU) fluctuated around $1250 an ounce. No economic data expected today.

EURO (EUR) – The Euro closed almost unchanged against the dollar in a day where almost no news was released in Europe, or the US, which could influence the pair. The EUR/USD has been trading upwards in the last few days and has reached a new resistance at 1.2950 on the daily chart. If the pair succeeds to cross this rate, the trend will continue to be bullish. Overall, EUR/USD traded with a low of 1.2867 and with a high of 1.2919. Today, German Factory Orders are expected to weaken from 3.2% to 0.6%.

EUR/USD – Last: 1.2801

British Pound (GBP) – The Pound weakened for a fifth straight day against the Euro and declined versus the Dollar on speculation that signs of a slowing economy will prompt policy makers to consider increasing asset purchases when they convene for a central bank meeting this week. The GBP/USD is still trading in a negative range and still trading below the 10 moving average on the daily chart. Therefore, the momentum is bearish and the next support level on the daily chart is located at 1.5320. Overall, GBP/USD traded with a low of 1.5344 and with a high of 1.5489. No economic data is expected today.

GBP/USD – Last: 1.5378

Japanese Yen (JPY) –The Yen rose a bit against the Dollar, falling to a 2 day low, as investors turned their attention to a report from the Bank of Japan monetary policy meeting that is expected to be released. The interest rate was released and remained unchanged at 0.10%. The main momentum of the USD/JPY is still strongly bearish, but in the last few days, the pair has been fluctuating around the 84.0 level. The next support on the daily chart is located at 83.50, and the RSI supports a bearish trend, as well. Overall, USD/JPY traded with a low of 84.04 and with a high of 84.49.Today, the BOJ Press Conference will be happening.

USD/JPY-Last: 84.20

Canadian dollar (CAD) – The Canadian Dollar rallied against the US Dollar, advancing to a 3 week high amid low trade volume, as markets in the U.S. and Canada were closed for the Labor Day holiday. As long as the USD/CAD is below the 1.0450 levels, a short position is preferred and the momentum is bearish. The next support on the daily chart is located at 1.0270, and if the price crosses this level, the trend will continue to be bearish. Overall, USD/CAD traded with a low of 1.0340 and with a high of 1.0403. No economic data expected today.

USD/CAD – Last: 1.0357