Sep. 3: Asian session
EUR/USD slipped to the $1.3175 support after having traded in a narrow range. The only important release to watch in the euro zone is the Spanish unemployment change (7:00 GMT). GBP/USD edged lower after having strengthened to $1.5560 in the Asian trade. Watch the UK construction PMI at 12:30 GMT (the index is forecasted to reach the highest level since 2010).
USD/JPY has reached 99.70 today before retreating to 99.50/45. Yesterday the pair closed well above the triangle seen on the daily chart. Yen weakened as signs of economic improvement across the globe damped demand for refuge assets while data from Japan signaled progress in the central bank’s easing efforts. USD/CHF has reached target at 0.9350.
AUD/USD is rising for the second day and is approaching $0.9070. The Reserve Bank of Australia left the benchmark rate at 2.5%. Aussie gained as the RBA omitted mention of further scope to ease monetary policy. Australian retail sales came lower than expected (+0.1% vs. +0.4%). The nation’s current account deficit widened from 8.7B to 9.4B. NZD/USD rose to resistance at $0.7840. Upside for USD/CAD remains capped by the 1.0560 resistance.