Jan. 8: American session
According to ADP, unexpectedly positive data on employment in the non-agricultural sector of the U.S. economy stopped the rapid growth of EUR rate according to ADP, which began to recover on the basis of Eurostat reports on retail sales in Europe. The EUR/USD reached a session high of 1.3618 and then fell under the 1.3600 figure. But positive U.S. data did not affect the growth of the British . GBP/USD pair is currently testing a strong resistance level at 1.6465, recovering from almost 70 pips in the morning despite the relatively poor housing data according to Halifax estimation.
USD/CHF has formed a session low at 0.9080 and then makes an attempt again to recover for the 91st figure. In general, the positive trend is continued. USD/JPY pair is trading slightly up near 104.85. However, it should be noted that today the currency pair rose even higher, above the mark of 105.11. This current situation proves that the potential for growth is high enough.
Commodity currencies were not able to resume recovery today, despite the frantic efforts of customers to bring the market range. Now the pair AUD/USD shows weakness, again declining to support 0.8915 from today’s maximum 0.8954 . Pair NZD/USD fell to 0.8280 support. Daily maximum was recorded in the area of 0.8318.
Pair USD/CAD, forming a session low at 1.0790, renewed a recovery. At the moment, the bulls are stealing up to daylight extremum 1.0820-1.0825. Positive sentiment holds true.
Tatiana Norkina, FBS analyst