July 24: American Session
Tatiana Norkina, analyst at FBS
U.S. dollar shows strength after the release of labor market data. The number of unemployment benefits applications for the past week has fallen to 284 thousand, from 303 thousand. Analysts had predicted an increase to 308 thousand. This encouraged strenghtening of the dollar index which is now adding about 0.10%. Stock markets have opened not that positively. DJIA and S&P500 have gone into the red zone, losing about 0.03%.
Currency pairs are trading rather nervously today. Thus, the EUR/USD pair was consolidsating to 1.3485 after the release of positive statistics on eurozone, but then corrected to the 1.3460 area. The USD/CHF currency pair has found support at 0.9010 and is now consolidating around 0.9020. USD/JPY fixed above 101.40, then rose to the 101.80 resistance. Corrective fall of the GBP/USD pair has continued today: the bears have lowered the rate to 1.6970.