Nov.21: American session
The EUR / USD regained some positions that it had lost yesterday . Market participants reacted positively to the ECB President Mario Draghi report , which said the movement of interest rates on deposits below the zero point was not planned. In particular, he stated that this option was only discussed at a meeting of the governing board , and nothing more. In addition, he pointed out that the euro zone economy is growing, but the recovery is uneven and unstable . Consequently, the rate increase in the near future is also not expected. Some negative influence was given to the short-term bullish situation by the data on unemployment in the United States. Over the last week the number of applications for unemployment benefits fell to 323K , versus 335K expected . As a result , the pair pulled back from the high of the day to 1.3475 session low of 1.3440 . At the time of writing, the pair is being traded at 1.3460 . GBP / USD also continues to recover at the U.S. session . Prices broke the mark of 1.6140 , rebounding from a session low of 1.6108 and is currently storming new highs around 1.6150 . Definitely , the bulls are set seriously enough. Holding these levels will give the opportunity to update the highs of the week - 1.6178 .
USD / CHF currency pair, is consolidating just above significant support at 0.9140 . Despite today's decline , the short-term uptrend remains relevant . Securing above $ 0.9160 would allow the bulls to keep buying. USD / JPY is growing almost without stopping. The pair has already formed a new high for the last four months during the U.S. session , testing the 101.10 mark . The reason for the growth was the press conference of the Bank of Japan , during which it was announced that the Bank would not only curtail its supersoft monetary policy , but also continue to buy assets purposefully in order to increase inflation to an acceptable level.
The Australian dollar , as well as the New Zealand dollar, lost pretty much today against the U.S. dollar. So , AUD / USD has formed a session low at 0.9230 and now is being traded at around 0.9250 . NZD / USD is being traded slightly above the figure of 0.8200 , but however has fallen to the level of 0.8178 . We would like to note that these levels are below the October lows. The reason for the sales were the records on possible reductions in monthly bond purchases at 85 billion dollars registered during the meeting of the U.S. Federal Reserve. Today, Glenn Stevens, the Head of the RBA has also poured oil to the fire, be having said that the central bank is open to foreign exchange intervention , in case the necessity in its confidence would be proven: " At the moment, the Australian dollar is above thr necessary level."
Currency pair USD / CAD continues to set the session highs . During the last hour the U.S. dollar has strengthened its positions against the Canadian dollar and has recovered to the level of 1.0517 . It is quite obvious that the market will soon be trying to gain a foothold above the 1.0500 figure . This will allow the bulls to move up to the annual maximum .
Tatiana Norkina , an analyst at FBS