Feb. 20: American session
Tatiana Norkina , an analyst at FBS
U.S. dollar index is recovering today , rising in the beginning of session is about 0.10% and has a clear tendency to a further upward movement. U.S. stock market has some good news as well: S & P500 and the DJIA added 0.15 % each after not very positive statistics on unemployment over the past week . The number of applications for unemployment benefits in the U.S. is a little higher than analysts had expected and amounted 336 thousands. Specialists predicted 335 thousands. Thus, annual inflation fell slightly, to 1.6% in comparison with the latest data - 1.7%, which matches the expectations of analysts. With the help of the news, the EUR/USD turned up from today's low 1.3685 and rebounded to 1.3725. It has a good resistance, that can stop the bulls. GBP/USD pair also turned up from a minimum of 1.6635, but bulls have felt weakness at the 1.6700 figure and the bears began to increase the pressure again. Trades are held in the area of 1.6660.
USD/CHF has decreased from 0.8915 highs today, but found support at the level of 0.8885. Bulls are attacking the figure 0.8900 again. Unexpected support around 101.70 forced USD/JPY pair to jump to around 102.35. Fixing prices above today's 102.00 figure may end lengthy consolidation under 102.60 resistance.
USD/CAD pair are trading in a narrow range 1.1060-1.1090 after yesterday's explosive growth.