Jan. 9: American session
The ECB left interest rates unchanged at 0.00-0.25 % on today's meeting. Mario Draghi promised to hold this level still for quite a long time. This case had a negative impact on the euro exchange rate. The EUR/USD selling was immediately ensued, which led to a lower rate in the area of 1.3550. During early U.S. session, the pair slightly regained the lost ground by rising to the level of 1.3595, where the trading takes place at the moment. GBP/USD has broken through the resistance level of 1.6465 after strong positive trade balance of Great Britain, but the bulls could not hold the position. The market is going to turn in the downward direction.
USD/CHF has tested yesterday's 0.9125 highs, but could not update them even with the support of a relatively positive data on unemployment in the U.S.. Bears increase prices again under the figure and the basic movements are held now in the area of 0.9090. USD/JPY pair is trading at the lower end of today's range 104.75-105.04. There are not quite enough buyers on the market at the moment.
Commodity currencies are traded with a small loss. Moreover, if a pair AUD/USD is consolidating just above the 0.8870 support, the pair NZD/USD has been trading all day long above 0.8245 today. At the time of writing this review bears began to penetrate this support and configured to lower the rate of currency pair to the next strong level of 0.8230.
Pair USD/CAD has been rising for the fourth consecutive day. New high is formed at 1.0870. The Canadian dollar continued to fall against the Americans after yesterday's interview with the head of the Bank of Canada, Stephen Poloz, who noted that he has reasons to cut rates for preventing a deflation. We must stress that prices exceeded 2010 extremes in the current state of very high overbought market level.
Tatiana Norkina, FBS analyst