EUR/USD
The EUR declined 0.08% against the USD and closed at 1.3186.
Over the weekend at the Jackson Hole Summit, the ECB Chief, Mario Draghi, revealed that the policymakers are willing to introduce additional stimulus, if there is further drop in inflation in the region.
In the US, the pace of growth in the services sector lost momentum as the services PMI fell for a second consecutive month in August to a level of 58.5, below the reading of 60.8 registered in July.
The pair is expected to find support at 1.3184, and a fall through could take it to the next support level of 1.3165. The pair is expected to find its first resistance at 1.3217, and a rise through could take it to the next resistance level of 1.3231.
Going forward, the crucial durable goods orders and consumer confidence data from the US would be closely watched.
GBP/USD
The GBP rose 0.12% against the USD and closed at 1.6568.
in the Jackson Hole Summit, the BoE Deputy Governor, Ben Broadbent, stated that wage growth in Britain is not going to pick up anytime soon. He further mentioned that the bank would not hike its benchmark rates until there is a clear prospect of stronger wage growth in the nation.
The pair is expected to find support at 1.6564, 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 1.6611, and a rise through could take it to the next resistance level of 1.6628.
Amid a light economic calendar from the UK today, trading trends in the pair today are expected to be determined by news from various economies.
USD/JPY
The USD strengthened 0.16% against the JPY and closed at 104.05, following soft economic releases from the US.
theBoJ Governor, Haruhiko Kuroda, stated that the Japanese economy would still need its ultra-easy stimulus measure for some more time in order to get rid of deflation.
The pair is expected to find support at 103.67, and a fall through could take it to the next support level of 103.51. The pair is expected to find its first resistance at 104.13, and a rise through could take it to the next resistance level of 104.44.
USD/CHF
The USD declined 0.11% against the CHF and closed at 0.9161.
The pair is expected to find support at 0.9133, and a fall through could take it to the next support level of 0.9121. The pair is expected to find its first resistance at 0.9165, and a rise through could take it to the next resistance level of 0.9185.
Amid lack of economic releases from Switzerland today, market sentiments would shift their focus to Wednesday’s Swiss UBS Consumption Indicator.