GCI Forex News - USD/CAD: Canadian Dollar tad higher in the Asian session

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD declined 0.23% against the CAD to close at 0.9921.

In the Asian session, at GMT0400, the pair is trading at 0.9922, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9906, and a fall through could take it to the next support level of 0.9890. The pair is expected to find its first resistance at 0.9949, and a rise through could take it to the next resistance level of 0.9977.

Trading trends in the pair today are expected to be determined by the release of the current account, industrial product price and the raw material price index data in Canada.

The currency pair is trading below its 20 Hr and 50 Hr moving average.

GCI Forex News - AUD/USD: Australian new home sales rise in October, Aussie trading lower this morning

AUDUSD Movement

For the 24 hours to 23:00 GMT, AUD strengthened 0.29% against the USD to close at 1.0473.

LME Copper prices declined 1.0% or $76.3/MT to $7719.5/MT. Aluminium prices declined 0.5% or $10.5/MT to $1992.3/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0466, with the AUD trading marginally lower from yesterday’s close.

Data released this morning indicated that new home sales in Australia rose 3.4% in October, compared to a 3.7% drop recorded in September. Separately, private capital expenditure in Australia rose a seasonally adjusted 2.8% in the Q3 FY2012, against the forecast for a 2.0% increase and following a 3.4% rise recorded in the Q2 FY2012.

The pair is expected to find support at 1.0435, and a fall through could take it to the next support level of 1.0404. The pair is expected to find its first resistance at 1.0489, and a rise through could take it to the next resistance level of 1.0513.

The currency pair is trading just above its 20 Hr and 50 Hr moving averages.

GCI Forex News - USD/CHF: Swiss UBS consumption indicator rose in October

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose 0.43% against the CHF and closed at 0.9306.

Switzerland’s UBS consumption indicator rose to a reading of 1.31 in October, following a revised reading of 1.04 in September.

In the Asian session, at GMT0400, the pair is trading at 0.9305, with the USD trading marginally lower from yesterday’s close.

The pair is expected to find support at 0.9275, and a fall through could take it to the next support level of 0.9245. The pair is expected to find its first resistance at 0.9330, and a rise through could take it to the next resistance level of 0.9355.

The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.

GCI Forex News - USD/JPY: US Dollar reverses previous session gains, trading lower this morning

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD strengthened 0.26% against the JPY and closed at 82.09.

In Japan, small business confidence retreated 43.3 in November, from 43.7 in the previous month.

In the Asian session, at GMT0400, the pair is trading at 81.87, with the USD trading 0.27% lower from yesterday’s close.

The pair is expected to find support at 81.67, and a fall through could take it to the next support level of 81.46. The pair is expected to find its first resistance at 82.20, and a rise through could take it to the next resistance level of 82.52.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

GCI Forex News - USD/CAD: OECD forecasted a moderate growth for Canada

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.14% against the CAD to close at 0.9944.

Yesterday, the Organization for Economic Co-operation and Development, in its new global outlook, forecasted that Canada’s economy would log “moderate” growth until mid-2013. The agency reported that the Canadian economy is projected to finish this year with expansion of 2%, followed by 1.8% in 2013 and 2.4% in 2014. However, it warned that though the Canadian economic expansion is rising, governments should be prepared to respond to possible foreign and domestic shocks that could send the recovery off track.

In the Asian session, at GMT0400, the pair is trading at 0.9938, with the USD trading marginally lower from yesterday’s close.

The pair is expected to find support at 0.9913, and a fall through could take it to the next support level of 0.9887. The pair is expected to find its first resistance at 0.9957, and a rise through could take it to the next resistance level of 0.9976.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

GCI Forex News - USD/CHF: Swiss Franc trading lower this morning, investors eye the UBS consumption indicator data

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.14% against the CHF and closed at 0.9267. The Swiss Franc rose, after employment level in Switzerland rose to 4.12 million in the Q3 FY2012, compared to a level of 4.07 million registered in the previous quarter. Market had expected a rise to 4.09 million.

In the Asian session, at GMT0400, the pair is trading at 0.9274, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9252, and a fall through could take it to the next support level of 0.9230. The pair is expected to find its first resistance at 0.9298, and a rise through could take it to the next resistance level of 0.9322.

Trading trends in the pair today are expected to be determined by the release of UBS consumption indicator in Switzerland.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

GCI Forex News - USD/CAD: Pair trading below its MA’s

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD declined marginally against the CAD to close at 0.9929.

In the US, the Chicago Fed National Activity Index dropped to a reading of -0.56 in October, following a flat reading in the previous month. Meanwhile, the Dallas Fed manufacturing business index declined to a reading of -2.80 in November, against the expectation for an improvement to a reading of 2.0 and compared to a reading of 1.80 in the previous month.

In the Asian session, at GMT0400, the pair is trading at 0.9926, with the USD trading marginally lower from yesterday’s close.

The pair is expected to find support at 0.9909, and a fall through could take it to the next support level of 0.9892. The pair is expected to find its first resistance at 0.9952, and a rise through could take it to the next resistance level of 0.9977.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

GCI Forex News - AUD/USD: Aussie rises in risk-on trade, as EU-IMF strike funding deal for Greece

AUDUSD Movement

For the 24 hours to 23:00 GMT, AUD strengthened 0.13% against the USD to close at 1.0471.

LME Copper prices rose 1.2% or $94.5/MT to $7770.3/MT. Aluminium prices rose 2.5% or $47.5/MT to $1976.3/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0485, with the AUD trading 0.13% higher from yesterday’s close, extending its previous session gains, as risk appetite improved following news that the IMF and the EU have agreed on debt-reduction targets for Greece, which would open the flow of aid into the country.

The pair is expected to find support at 1.0453, and a fall through could take it to the next support level of 1.0421. The pair is expected to find its first resistance at 1.0504, and a rise through could take it to the next resistance level of 1.0522.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.