Apr. 16: American session
Tatiana Norkina, analyst at FBS
The publication of the US past-month industrial production data, which turned out slightly better than forecasted by analysts, has contributed to strengthening of the U.S. dollar index today, after it falling to the 79.70 area. Nevertheless, the dollar is still in the red zone, losing about 0.02%, as of now. In the meantime, stock markets have opened significantly in the black. Thus, DJIA is adding about 0.60%, S&P500 - 0.30%, in expectation of the next speech by FRS Chair J. Yellen.
The EUR/USD currency pair has slid to the 1.3820 support area, after testing the 1.3850 mark today, while the GBP/USD pair has been supported by the labor market data. After the announcement that the unemployment rate has reduced from 7.1% to 6.9%, the pair shot to the 1.6820 area. So far, it is consolidating near the 1.6800 figure.
Bulls have just tried to go above the 0.8800 figure on the USD/CHF pair, which has been trading in a narrow range all day. USD/JPY has grown to 102.35 but met a strong resistance there, which can force the market to return to the 101.90-102.00 area already in the near future.