Dec.3: American session
Bulls today have almost entirely won back yesterday's unexpected collapse of the EUR / USD currency pair. During the whole day bidding was being done on a positive note, which persists in the U.S. session. The pair reached yesterday's opening levels at 1.3580-1.3590. The positive trend, which is caused by the investors' expectations of tomorrow's statistical data from the United States, may gain strength right up to the end of the day. However, to keep the uptrend, prices should pass at least the levels of 1.3600-1.3620. The GBP / USD has recovered today to yesterday's highs as a result of positive statistics from the UK construction sector. The index of business activity in this area has proved unexpectedly higher than the 59.0 level, expected in November, and made even 62.6 points. At the time of writing the pair is being traded at0 1.6415 level, after having found support at 1.6390.
The U.S. dollar lost its positions against the Swiss franc and the Japanese yen today. Thus, the USD / CHF pair is being traded way below the opening level, under the support of 0.9050. The USD / JPY is at a session low - around the 102.40 mark. Such a downtrend for this pair can now be regarded as just a technical pullback from some strong resistance levels. Perhaps the market will wait for the report on unemployment in the United States.
The AUD / USD today has once again tested the three-day old support at 0.9060 today and has again rushed up. Bullish tones were supported by positive statistical data on retail sales - an increase up to 0.5% over the past month against the expected 0.4 %. In addition, the Reserve Bank of Australia has kept interest rates unchanged - 2.50 %. The NZD / USD currency pair jumped to the one-week old highs of 0.8260 and after a small rollback its recovery continues at the mark of 0.8250.
The Canadian dollar fell to the three-year old lows against the U.S. dollar today. The USD / CAD pair jumped to around 1.0670 based on the rumors that the probability of further increase of crediting rate by the Bank of Canada grew much stronger. At the same time, experts expect the rates to be kept at 1.00% yet. The Bank of Canada’s meeting session is scheduled for tomorrow.
Tatiana Norkina , an analyst at FBS