Dec. 12: American session
European currency has begun to lose ground against the U.S. dollar after the release of mixed U.S. data. Thus, last week applications for unemployment benefits rose slightly more than expected by analysts (320 million) - up to 368 thousand, but, at the same time, the dynamics of retail sales has increased up to 0.7 %. In conjunction with declined industrial production in eurozone, it has given rise to sales of EUR/USD pair and depreciated yesterday's lows of 1.3750. GBP/USD has plummeted to 1.6350 of yesterday's extrema, despite of a fairly positive start of the day and an attempt to consolidate above 1.6400 figure. But for now this fall still seems like correction.
USD/CHF has finally groped support in the range of 0.8840-0.8850 and began to unfold up. Sales are currently being in session highs in the 0.8900 area figures. The U.S. dollar strengthened against the Japanese yen. Currency pair USD/JPY is trading at the highs today in the area of the figure 103.00. Very high probability of bullish trend increase.
Commodity currencies traded mixed today, but bears were stronger in the U.S. session. AUD/USD is currently losing the opening of about 130 pips and is trading around 0.8930. It should be noted that the August extremes are in the nearest proximity. The reason for the fall was the negative statistics on the labor market : the unemployment rate in Australia rose to 5.8 % last month from 5.7 % in October. Pair NZD/USD fell sharply with today's high 0.8318 to 0.8230 strong support. For the present, the market moves just a little above this mark and until the end of the session there is the possibility of bulls attempts.
Pair USD/CAD hit 1.0560 on the support, and then rose sharply to 1.0650 morning levels. A little later, at 22:05, Moscow time, Head of the Bank of Canada perfomance is expected.
Tatiana Norkina, FBS analyst