DAILY ANALYSIS for 30.09, 2013 & 01.10,2013:
We are sharing here the latest today's fprex updates and analysis
Asian and European trading
sessions:
Euro: The EUR /
USD pair fell to $ 1.3475 during the Asian session. The
report from the Statistical Office Eurostat showed that
in the month of September the annual rate of inflation
in the euro zone fell to its lowest level in three and a
half years, which suggested that the European Central
the bank has an opportunity to postpone for a while
region's economy stimulus, if it would be necessary. The
EUR / USD pair is trading during the European session
traded in a narrow range with no particular trend.
British Pound:
The pound fell against the dollar, as many market
participants were waiting for tomorrow's publication of
the results of the index of manufacturing activity PMI,
which accordingly the forecasts of economists, will rise
to two-year high in September and will reach 57.5.
Meanwhile, today's data showed that the business lending
in August fell to ?3.8 billion dropping during last six
months by more than three times then its average
decline. Compared with a year earlier the loans declined
by 3.6%. The volume of loans to small and medium-sized
companies fell by 3.2% compared to the same period of
time. The GBP / USD pair dropped to $ 1.6125 during the
European session.
Japanese Yen:
The yen rose against all major currencies and
reached a three-week high against the euro amid growing
demand for safer assets related to the possible
dissolution of the Italian government. The USD / JPY
pair fell to Y97.54 during the European session.
American trading session:
U.S. Dollar: The
dollar fell to a month low against the yen after the
U.S. Senate has not held its meeting yesterday, and
brought it to on Monday. The meeting will consider the
law on the refinancing of the government budget
commitments which have to pass the House of
Representatives.
Euro: The euro edged
higher against the U.S. dollar despite the political
tensions in Italy against the background of some
improvement of risk sentiment. Talks about the fact that
the Italian senators from PdL party could support the
Prime Minister Enrico Letta, circulated among the market
participants and positively affected the dynamics of the
euro. The Fitch agency issued a statement on the
situation in Italy, warning that if on Wednesday at the
voting the government of Enrico Letta will not receive a
vote of confidence, the financial goals of the country
might be jeopardized.
Gold:
Despite of the uncertain future of the Fed's
incentive program, the gold rose today in price. The
threat of closure of U.S. government agencies was the
main reason for that. The cost of the October gold
futures on COMEX rose to $ 1350.95 an ounce and then
fell to $ 1322.50 an ounce.
Oil: The cost of WTI
oil brand fell to its lowest level in nearly three
months, while the U.S. government facing off funding,
which could reduce demand in the world's biggest
consumers of oil. The cost of the November futures fell
to $ 101.00 a barrel on the NYMEX.
TECHNICAL ANALYSIS for 01.10, 2013
EURUSD
The pair has drawn the Pennant. The end of
the figure maybe expected at
1.36806.
Resistance: 1.35984, 1.37486,
1.38554
Support: 1.34882, 1.33143,
1.31674
GBPUSD
The pair has risen to
1.62050.
Resistance: 1.62050, 1.63316,
1.64636
Support: 1.60322, 1.58543,
1.56722
USDCHF
The pair has broken support level at 0.91079
and aiming to 0.89635.
Resistance: 0.91079, 0.92026,
0.93069
Support: 0.89635, 0.88418,
0.87214
USDJPY
The pair is trading around 98.718. Support is
at 97.491.
Resistance: 98.718, 99.888,
101.207
Support: 97.491, 96.400,
95.200
AUDUSD
The pair has drawn the Pennant. If the pair
breaks upper level of the Pennant the pair will workout
the figure and rise to 0.95611.
Resistance:
0.94635, 0.95611, 0.96579
Support:
0.93493, 0.92284, 0.91360
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