Daily Currency Report (2015.08.25)

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Source:DIRECT FX TRADING PTY LTD (Review and Forex Cashback)

EURUSD

This morning at 09:40 GMT, the EUR is trading at 1.1538 against the USD, 0.41% lower from the New York close, despite strong macroeconomic data from Germany. This morning, the pair traded at a high of 1.1605 and a low of 1.1513. The Euro traded 0.32% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.1585. The pair is expected to its find support at 1.1427 and its first resistance at 1.1682.

GBPUSD

At 09:40 GMT, the pair is trading at 1.5797, with the Pound trading 0.21% higher against US Dollar from the New York close. The pair witnessed a high of 1.5804 and a low of 1.5746 during the session. Yesterday, the Pound traded marginally lower against the US Dollar in the New York session and ended at 1.5764. Immediate downside, the first support level is seen at 1.5729, while on the upside, the first resistance level is situated at 1.5835.

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 119.75 against the Yen, 1.05% higher from the New York close. Moving ahead, Japan’s corporate service price index data for July, is scheduled to release tonight. During the session, the pair traded at a high of 120.12 and a low of 118.25. Yesterday, the US Dollar traded 0.96% lower against the Yen in the New York session and ended at 118.50. The pair is expected to its find support at 117.06 and its first resistance at 121.55..

USDCHF

The US Dollar is trading at 0.9399 against the Swiss Franc at 09:40 GMT this morning, 0.85% higher from the New York close. In economic news, the number of people employed in Switzerland slightly increased to 4.24 million in 2Q. Moving ahead, investors look forward to the release of UBS consumption indicator for July, due tomorrow. The pair traded at a high of 0.9432 and a low of 0.9306 this morning. Yesterday, the USD traded 0.3% lower against the CHF in the New York session and ended at 0.9320. The pair is expected to its find support at 0.9292 and its first resistance at 0.9468.

USDCAD

The pair is trading at 1.3191 at 09:40 GMT this morning, with the USD trading 0.69% lower against CAD from the New York close. The commodity-related currency oil rebounded after crude oil prices rose from its 6 1/2-year low. The pair traded at a high of 1.3300 and a low of 1.3187 this morning. The US Dollar advanced against the Canadian Dollar in the New York session yesterday, closing 0.26% higher at 1.3283. The pair is expected to its find support at 1.3125 and its first resistance at 1.3278.

AUDUSD

The pair is trading at 0.7200 at 09:40 GMT this morning, with the Australian Dollar trading 0.83% higher against US Dollar from the New York close. This morning, the pair traded at a high of 0.7235 and a low of 0.7135. The Australian Dollar traded 1.26% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7141. The pair is expected to its find support at 0.7079 and its first resistance at 0.7287.

Gold

Gold is trading at $1150.40 per ounce at 09:40 GMT this morning, 0.22% lower from the New York close, as global equity markets rebounded from the previous session’s sell-off. This morning, the precious metal traded at a high of $1156.30 per ounce and a low of $1145.30 per ounce. Yesterday, gold traded 0.32% lower in the New York session and closed at $1152.90 per ounce. Immediate downside, the first support level is seen at $1140.40 per ounce, while on the upside, the first resistance level is at $1165.10 per ounce.

Silver

The precious metal is trading at $14.82 per ounce at 09:40 GMT this morning, 0.13% lower from the New York close. During the session, silver traded at a high of $14.97 per ounce and a low of $14.65 per ounce. In the New York session yesterday, silver rose 1.37% and closed at $14.84 per ounce. Immediate downside, the first support level is seen at $14.56 per ounce, while on the upside, the first resistance level is at $15.11 per ounce.

Oil

The commodity is trading at $39.49 per barrel at 09:40 GMT this morning, 3.27% higher from the New York close, as China worries still hover over crude oil prices. Crude oil witnessed a high of $39.54 per barrel and a low of $38.16 per barrel during the session. In the New York session yesterday, crude oil fell 1.6% to close at $38.24 per barrel. Immediate downside, the first support level is seen at $38.31 per barrel, while on the upside, the first resistance level is at $40.10 per barrel.

Economic Snapshot

German Ifo current assessment index rose unexpectedly in August

The Ifo current assessment index advanced unexpectedly to a level of 114.80 in August, in Germany, compared to a reading of 113.90 in the prior month. Market expectation was for the Ifo current assessment index to remain unchanged.

German GDP rose as expected in 2Q 2015

On an annual basis, the non-seasonally adjusted final gross domestic product (GDP) in Germany registered a rise of 1.60% in 2Q 2015, in line with market expectations. The preliminary figures had also recorded a rise of 1.60%. GDP had advanced by a revised 1.20% in the previous quarter.

German GDP rose as expected in 2Q 2015

The seasonally adjusted final gross domestic product (GDP) rose 0.40% in Germany on a QoQ basis in 2Q 2015, in line with market expectations. The preliminary figures had also recorded a rise of 0.40%. In the prior quarter, GDP had recorded a rise of 0.30%.

German Ifo business climate index advanced surprisingly in August

In August, the Ifo business climate index rose unexpectedly to a level of 108.30 in Germany, compared to market expectations of a drop to a level of 107.60. The Ifo business climate index had recorded a level of 108.00 in the prior month.

German Ifo business expectations index registered a drop in August

The Ifo business expectations index registered a drop to 102.20 in Germany, in August, compared to market expectations of a drop to 102.00. The Ifo business expectations index had registered a revised reading of 102.30 in the prior month.

German GDP rose as expected in 2Q 2015

On an annual basis in 2Q 2015, the working day adjusted final gross domestic product (GDP) rose 1.60% in Germany, in line with market expectations. In the previous quarter, GDP had registered a revised rise of 1.10%. The preliminary figures had also recorded a rise of 1.60%.

Swiss number of people employed registered a rise in 2Q 2015

In 2Q 2015, the number of people employed climbed to 4.24 million in Switzerland. The number of people employed had recorded a reading of 4.22 million in the previous quarter.

Australian leading index registered a drop in June

In Australia, the leading index slid 0.20% on a monthly basis, in June. The leading index had climbed 0.20% in the previous month.

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