Dec. 5: American session
The ECB left interest rates unchanged at 0.00-0.25 % on today's meeting. At the same time, Mario Draghi hinted that negative interest rates on deposits will not be introduced. Naturally, this has pushed up the euro exchange rate . Against the U.S. dollar, the euro rose to 1.3670, finally breaking through the resistance 1.3600 held for the past seven trading days. Now the pair EUR/USD continues to be traded at a session high, in the 1.3660. The Bank of England also kept rates by leaving it at 0.50 %. Chancellor of the Exchequer Dzh.Osborn said today that monetary policy will remain at the same level, at the same time improving the forecast growth of the British economy. Despite this GBP/USD pair is trading down today. Session low at 1.6305 was formed. Correction can be extended to support 1.6290.
USD/CHF has formed a session high at 0.9045 level, then collapsed to the lows of the day and continues to update them . The dollar did not have any support even from the U.S. data, which statistics show improvement in the labor market. Thus, the number of applications for unemployment benefits declined significantly to 298 thousand units compared to the expected growth of 325 thousands. Previous value indicator on revised data was 321 thousand applications. Now the pair is traded just below 0.9880. Currency pair USD/JPY is consolidated above 101.85 mark, where the market has obviously found support. At the moment, the bulls are trying to gain a foothold above the 102.00 figure that can give impetus to new purchases.
The AUD/USD is traded sideways. Aussie support provides an important figure of 0.9000, which has been subjected several times to attacks from sellers in the last two days. But an unexpected weakness is not giving Americans continue to fall to the August lows. NZD/USD is traded above 0.8170 support for the three days, but the Bears still tried to go below the level of 0.8150 and stung. Last two hours of trade is conducted with an increase in the area of 0.8180.
U.S. dollar weakens in the U.S. session, and against the Canadian dollar. Currency pair USD/CAD rebounded from 1.0700 figure, rushing to lows three days ago. Currently trades in 1.0630 support area, but the rapid collapse can lead to testing 1.0600 figure.
Tatiana Norkina, FBS analyst