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EUR/USD
The EUR declined 0.52% against the USD and closed at 1.2646.
The greenback traded on a stronger footing after the US consumer prices advanced 0.1% on a monthly basis in September, beating market expectations. The MBA mortgage applications in the US rose 11.6% in the week ended October 17, after registering 5.6% gain in the previous week. The pair is expected to find support at 1.26, and a fall through could take it to the next support level of 1.2562. The pair is expected to find its first resistance at 1.2708, and a rise through could take it to the next resistance level of 1.2778.
Trading trends in the Euro today would be determined by the manufacturing and services PMI from the Euro-zone and Germany, its biggest economy, scheduled in a few hours from now. Meanwhile, investors would keenly look at the US initial jobless claims data, scheduled later today.
GBP/USD
The GBP fell 0.40% against the USD and closed at 1.6046, after the minutes of the BoE’s latest policy meeting revealed that majority of the policymakers voted to keep the interest rates unchanged at 0.5%. The pair is expected to find support at 1.5994, and a fall through could take it to the next support level of 1.5942. The pair is expected to find its first resistance at 1.6115, and a rise through could take it to the next resistance level of 1.6184. Going forward, market participants look forward to the UK’s retail sales data as well the BoE’s MPC member Ben Broadbent’s speech, scheduled in a few hours.
USD/JPY
The USD strengthened 0.12% against the JPY and closed at 107.17. Early morning data indicated that, Japan’s Markit manufacturing PMI unexpectedly rose to a level of 52.8 in October, up from previous month’s reading of 51.7. Separately, the IMF gave Japan the green signal to go ahead with a second sales tax hike next year in order to maintain credibility of the nation’s fiscal framework. The pair is expected to find support at 106.92, and a fall through could take it to the next support level of 106.55. The pair is expected to find its first resistance at 107.52, and a rise through could take it to the next resistance level of 107.76.
USD/CHF
The USD rose 0.48% against the CHF and closed at 0.9538. The pair is expected to find support at 0.9496, and a fall through could take it to the next support level of 0.9444. The pair is expected to find its first resistance at 0.9575, and a rise through could take it to the next resistance level of 0.9602.