Currency Analyst since 2010

Oct. 9: Asian session

EUR/USD got twice rejected in the $1.3600 area – yesterday and today and is currently trading in the $1.3565 area. The Fed releases minutes of last month’s meeting when it unexpectedly refrained from trimming bond purchases at 18:00 GMT. US government remains partially shut down. Euro halted a decline before a report forecast to show German industrial production rebounded in August (10:00 GMT) and the ECB president speaks today at 22:00 GMT. GBP/USD was also constrained by resistance at $1.6125/20 and is trading in the $1.6070 area. The UK will release manufacturing production figures at 08:30 GMT, as well as trade balance and the Bank of England’s credit conditions survey.

USD/JPY rose from the 200-day MA at 96.76 to 97.40. Yen declined after a White House official said President Barack Obama will nominate Janet Yellen today to head the Fed, boosting demand for higher-yielding assets. USD/CHF remains in 0.9015/65 area.

AUD/USD rose to $0.9484 yesterday, but the closed at $0.9420. Today Aussie is trading a bit on the upside before a report tomorrow that is forecast to show that Australian jobs gained in September. NZD/USD is fluctuating around $0.8285. USD/CAD rose approaching 1.0380.

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