Daily Currency Report 24 July , 2015

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

EUR USD

This morning at 09:40 GMT, the EUR is trading at 1.0953 against the USD, 0.28% lower from the New York close, after the release of disappointing services and manufacturing PMI figures across the Euro-zone in July. This morning, the pair traded at a high of 1.0997 and a low of 1.0931. The Euro traded 0.17% higher against the US Dollar in the New York session yesterday, with the pair closing the session at 1.0984. The pair is expected to its find support at 1.0916 and its first resistance at 1.1004.

GBPUSD

At 09:40 GMT, the pair is trading at 1.5490, with the Pound trading 0.15% lower against US Dollar from the New York close. In economic news, Britain’s BBA mortgage approvals increased in June, from previous month’s reading. The pair witnessed a high of 1.5525 and a low of 1.5467 during the session. Yesterday, the Pound traded 0.27% lower against the US Dollar in the New York session and ended at 1.5513. Immediate downside, the first support level is seen at 1.5430, while on the upside, the first resistance level is situated at 1.5586.

USDJPY

This morning, at 09:40 GMT, the US Dollar is trading at 123.96 against the Yen, a tad higher from the New York close. Early morning data showed that manufacturing activity in Japan quickened at the fastest pace in five-months in July. During the session, the pair traded at a high of 124.06 and a low of 123.84. Yesterday, the US Dollar traded 0.15% lower against the Yen in the New York session and ended at 123.90. The pair is expected to its find support at 123.71 and its first resistance at 124.20.

USDCHF

The US Dollar is trading at 0.9604 against the Swiss Franc at 09:40 GMT this morning, marginally higher from the New York close. Looking ahead, investors would focus on the release of Switzerland’s UBS consumption indicator data, scheduled next week. The pair traded at a high of 0.9630 and a low of 0.9580 this morning. Yesterday, the USD traded 0.22% higher against the CHF in the New York session and ended at 0.9599. The pair is expected to its find support at 0.9549 and its first resistance

at 0.9644.

USDCAD

The pair is trading at 1.3023 at 09:40 GMT this morning, with the USD trading 0.12% lower against CAD from the New York close. The pair traded at a high of 1.3051 and a low of 1.3015 this morning. The US Dollar advanced against the Canadian Dollar in the New York session yesterday, closing 0.25% higher at 1.3039. On the macro front, retail sales in Canada came in stronger than expected on a monthly basis in May. The pair is expected to its find support at 1.2963 and its first resistance at 1.3067.

AUDUSD

The pair is trading at 0.7302 at 09:40 GMT this morning, with the Australian Dollar trading 0.69% lower against US Dollar from the New York close, after the preliminary print of the Chinese manufacturing PMI unexpectedly edged down in July. This morning, the pair traded at a high of 0.7364 and a low of 0.7269. The Australian Dollar traded 0.28% lower against the US Dollar in the New York session yesterday, with the pair closing the session at 0.7353. The pair is expected to its find support at 0.7242 and its first resistance at 0.7390.

Gold

Gold is trading at $1081.60 per ounce at 09:40 GMT this morning, 0.73% lower from the New York close. This morning, the precious metal traded at a high of $1090.60 per ounce and a low of $1072.30 per ounce. Yesterday, gold traded 0.45% lower in the New York session and closed at $1089.60 per ounce, amid a broad strength in the greenback, after the US initial jobless claims fell to a four decade low level last week, suggesting robust pace of job growth in July. Immediate downside, the first support level is seen at $1068.67 per ounce, while on the upside, the first resistance level is at $1098.17 per ounce.

Silver

The precious metal is trading at $14.54 per ounce at 09:40 GMT this morning, 0.31% lower from the New York close. During the session, silver traded at a high of $14.67 per ounce and a low of $14.43 per ounce. In the New York session yesterday, silver fell 1.09% and closed at $14.59 per ounce. Immediate downside, the first support level is seen at $14.36 per ounce, while on the upside, the first resistance level is at $14.80 per ounce.

Oil

The commodity is trading at $48.63 per barrel at 09:40 GMT this morning, 0.43% lower from the New York close. Crude oil witnessed a high of $48.92 per barrel and a low of $48.51 per barrel during the session. In the New York session yesterday, crude oil fell 1.05% to close at $48.84 per barrel, extending its previous session losses, with fears of global over-supply continued to hit the commodity’s price. Immediate downside, the first support level is seen at $48.02 per barrel, while on the upside, the first resistance level is at $49.44 per barrel.

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