Jan. 23: American session
Business growth and manufacturing activity in the Euro zone forced the pair EUR/USD to get out of hibernation. The pair was growing all day, rebounding from 1.3450 mark, and is currently trading at the session maximum of 1.3680. Bullish mood on the European currency was supported by the negative statistics from the ocean: applications for unemployment benefits in the U.S. rose to 326,000 during the last week. According to revised data the index was 325,000 the week before last. GBP/USD pair also storms the maximum today and trading at 1.6630 mark.
Today the U.S. dollar weakened unexpectedly strongly against the Japanese yen and the Swiss. Thus, the pair USD/CHF had fallen to 0.9000 figure, after was not kept above the critical level of 0.9120 this morning. Now trades are carried a little lower, in the area of 0.8990. Currency pair USD/JPY went down to an eight-day old levels - 103.50. Note that here the falling of the rate started after the bulls were not able to resume an upward trend, for what they had to overcome the resistance of 104.75. Perhaps now began the correction to the area of 101.50.
AUD/USD and NZD/USD pairs traded multidirectional today. If the first pair is currently trading in the red at the local minimums of 0.8770, the New Zealander suddenly becoming stronger against the U.S. dollar, grown again to a three-day resistance - 0.8340. If more active actions of bulls take place, prices may have a 0.8400 figure soon.
The further decline of the Canadian dollar against the U.S. dollar was prevented by the positive data on retail sales in Canada. USD/CAD pair updated its maximums, recovering to 1.1170 mark, but was followed by a correction to 1.1090 right off. Currently the market is consolidating just above the 1.1100 figure, clearly intending to resume the uptrend.
Tatiana Norkina, FBS analyst