Forex Market Updates as on Wednesday August 09, 2017

Posted by: In: Market News 09 Aug 2017 Comments: 0

AUD/USD remains at the three-week low of 0.7862 after the data released in Australia showed the home loan growth slowed to 0.5% m/m in July vs. expected figure of 1.5%.

NZD/USD pair extends its losing streak into a fourth day today, with the bears now eyeing a break below 0.7300 levels, in response to mixed Chinese price pressures data.

GBP bulls are on the defensive amid persisting risk-averse market condition and underlying broad based US dollar strength, keeping any recovery in GBP/USD capped below 1.3000 levels so far this Wednesday.

The latest round of Korean tensions spooked markets in Asia. The Japanese Yen is well bid, along with the traditional safe haven assets like gold and the Treasuries. AUD/JPY, the global risk barometer, dropped close to 1% in Asia to a low of 86.30. EUR/JPY dropped more than 0.6% to 128.71 levels.

Gold prices on Comex extended its rebound from weekly lows and now hovers near 3-day tops of $ 1272.80, as demand for the safe-havens is on the rise across the financial markets amid escalating geo-political tensions between the US and North Korea over the missile threat.

Crude oil prices failed to gain traction in the post-settlement trade on Tuesday even after the API reported a larger-than-expected draw in U.S. crude oil inventories. As of writing, the barrel of West Texas Intermediate was trading at $49.05, losing 0.7% on the day.

 

Daily Support & Resistance Level

Currency Pair S3 S2 S1 Pivot Points  R1 R2 R3
EUR/USD 1.1724 1.1727 1.1729 1.1732 1.1735 1.1737 1.1740
USD/JPY 109.71 109.76 109.79 109.84 109.89 109.92 109.97
GBP/USD 1.2977 1.2980 1.2982 1.2985 1.2988 1.2990 1.2993
USD/CHF 0.9629 0.9646 0.9656 0.9673 0.9690 0.9700 0.9717
NDZ/USD 0.7310 0.7313 0.7315 0.7318 0.7321 0.7323 0.7326
AUD/USD 0.7862 0.7865 0.7868 0.7871 0.7874 0.7877 0.7880
XAU/USD 1263.98 1264.40 1264.65 1265.07 1265.49 1265.74 1266.16
CRUDE OIL WTL 48.94 48.97 48.99 49.02 49.05 49.07 49.10

 

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