The dollar gained against the majority of its 16 most-traded peers as a worse-than-forecast U.S. report on durable goods failed to damp speculation the Federal Reserve will start cutting bond purchases next month.
Investors weighed whether the world’s biggest economy is strong enough to support a reduction in Federal Reserve stimulus in September.
Financial markets were closed in London due to a public holiday.
The market is consolidating as investors awaited data on U.S. durable-good orders. Markets in London were closed for a holiday.
“On the one hand you want to see an improvement in the economy but if does improve too much, tapering is back on the agenda,” experts said. “This is a dilemma for the markets. The best scenario is moderate growth. Durable goods numbers can be volatile and fluctuate a lot.”
ЕURO
The Euro gradually sliding after short rise caused by the weak US data. The dollar fell earlier as bookings for goods meant to last at least three years decreased 7.3%, the most since August 2012, after a 3.9%gain in June, the Commerce Department said today in Washington. The median forecast of economists called for a 4% drop. Orders waned for aircraft and capital goods such as computers and electrical equipment.
EUR/USD trades in the middle of upward channel on daily charts. Levels 1.3275 and 1.3515 are supportand resistance respectively. Breaking through any of it will acelerate move of single currency. Initial suport is at 1.3340. Also resistances are at 1.3420 and 1.3460.
POUND
The pound trades in narrow range. UK markets are closed for the Summer Bank Holiday.
GBP/USD is sliding and initial support is at 1.5540. Key support is at 1.5480. Resistance is at 1.5640, more important - near 1.5720.
YEN
The yen still is in a correct mover after testing 3-weeks low.
USD/JPY stuck in the narrow range. Levels are the same as on Friday. Support is at 97.80. Resistance - at 99.10. Further - at 99.50.
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