US Dollar remains weak on expanded government shutdown
Friday, October 4, 2013
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The green Benjamin remains weak for a second day and recent technical movements are having major pairs consolidate as the U.S shutdown reached a fourth day and today the US Bureau of Labor Statistics did not collect or issue economic data and therefore the jobs report was not released.
Keeping in mind that this strongly awaited data delivers a concrete and current health of the economy and therefore more uncertainty is spread around tapering at the end of the year.
If truth be told the present shutdown government in the U.S is only creating deep-rooted disadvantages to the government bodies, public and private institutions and the whole American public: “everybody faces real economic hardship” as attested by the U.S president this week.
Accordingly the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.3546 while recording the highest level of $1.3630 and lowest level of $1.3537, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators. The trading range for today is among the key support at 1.3505 and key resistance at 1.3835.
As for the British Pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.6026 while recording the highest level of $1.1676 and lowest of $1.6024 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.The trading range for today is among the key support at 1.5910 and key resistance at 1.6170.
Finally, as a result of mixed signs witnessed throughout the momentum indicators at different time charts the USD/JPY pair is consolidating around ¥97.46while recording the highest level of ¥97.55 and lowest levels of ¥96.94.The trading range for today is among key support at 95.80 and key resistance at 98.20.
Ayman Khlifat on Twitter
Follow @aymankkhlifat
Keeping in mind that this strongly awaited data delivers a concrete and current health of the economy and therefore more uncertainty is spread around tapering at the end of the year.
If truth be told the present shutdown government in the U.S is only creating deep-rooted disadvantages to the government bodies, public and private institutions and the whole American public: “everybody faces real economic hardship” as attested by the U.S president this week.
Accordingly the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.3546 while recording the highest level of $1.3630 and lowest level of $1.3537, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators. The trading range for today is among the key support at 1.3505 and key resistance at 1.3835.
As for the British Pound, it is also consolidating on these correctional movements driving the GBP/USD pair to trade around $1.6026 while recording the highest level of $1.1676 and lowest of $1.6024 and is most probably going to remain at consolidated levels as mixed signs; buying and selling, are also witnessed at several time scale within the stochastic oscialltor.The trading range for today is among the key support at 1.5910 and key resistance at 1.6170.
Finally, as a result of mixed signs witnessed throughout the momentum indicators at different time charts the USD/JPY pair is consolidating around ¥97.46while recording the highest level of ¥97.55 and lowest levels of ¥96.94.The trading range for today is among key support at 95.80 and key resistance at 98.20.
Ayman Khlifat on Twitter
