EUR / USD
The EUR declined 0.30% against the USD and closed at 1.3321, after the Eurozone’s current account surplus narrowed in June.
In the US, the consumer price index rose 2.0% in July, matching with market estimates. The housing market recovery is back on track, as the housing starts in the US climbed to 1.093 million units in July, marking its highest level since November 2013
The pair is expected to find support at 1.3292, and a fall through could take it to the next support level of 1.3274. The pair is expected to find its first resistance at 1.3344, and a rise through could take it to the next resistance level of 1.3378.
Traders would keenly await the release of the Fed’s minutes of its latest policy meeting, scheduled later in the day.
GBP/USD
The GBP fell .62% against the US Dollar and closed at 1.6620, after downbeat inflation data in the UK. On an annual basis, consumer price index in the UK dropped unexpectedly to 1.6% in July, dampening the prospects of a near term interest rate hike.
Meanwhile, gains in the USD were supported by a rise in the US consumer price index and better than expected readings on US building permits and housing starts, all for the month of July.
The pair is expected to find support at 1.6574, and a fall through could take it to the next support level of 1.6534. The pair is expected to find its first resistance at 1.6690, and a rise through could take it to the next resistance level of 1.6766.
Trading trends in the Pound today are expected to be determined by the Bank of england’s minutes of the latest policy meeting, scheduled to release in a few hours.
USD/JPY
The USD strengthened 0.28% against the JPY and closed at 102.92.
Earlier this morning, data from Japan indicated that adjusted merchandise trade deficit in the nation narrowed to ¥1,23.8 billion in July. Exports were up 3.9% (Y-o-Y) and the imports climbed 2.3% (Y-o-Y) in July.
The pair is expected to find support at 102.65, and a fall through could take it to the next support level of 102.33. The pair is expected to find its first resistance at 103.15, and a rise through could take it to the next resistance level of 103.33.
Market participants would await manufacturing PMI data, scheduled for release tomorrow.
USD/CHF
the USD rose 0.29% against the CHF and closed at 0.9093, following upbeat economic releases from the US.
The pair is expected to find support at 0.9068, and a fall through could take it to the next support level of 0.9041. The pair is expected to find its first resistance at 0.911, and a rise through could take it to the next resistance level of 0.9125.