GCI Forex News - USD/JPY: Japanese Yen trading lower on easing speculation by BoJ

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD strengthened 0.16% against the JPY and closed at 79.78, amid positive US economic news.

In the US, the Dallas Fed Manufacturing Business Index climbed to a reading of 1.8 in October, from a reading of -0.9 in September. Also, personal income increased 0.4% (MoM) in September, following a 0.1% rise in August. Also, personal spending rose 0.8% (MoM) in September, after climbing 0.5% in August.

In the Asian session, at GMT0400, the pair is trading at 79.90, with the USD trading 0.16% higher from yesterday’s close.

Today morning, industrial production in Japan declined a seasonally adjusted 4.1% (MoM) in September, compared to a 1.6% drop in August. Meanwhile, average household spending declined 0.9% (YoY) in September, following a 1.8% gain in August. Moreover, on a seasonally adjusted basis, the unemployment rate stood stable at 4.2% in September.

The pair is expected to find support at 79.64, and a fall through could take it to the next support level of 79.38. The pair is expected to find its first resistance at 80.05, and a rise through could take it to the next resistance level of 80.20.

Trading trends in the pair are expected to be determined by the releases of the Bank of Japan (BoJ) interest rate decision and its monetary policy statement, scheduled to be released later today.

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

GCI Forex News - USD/CHF: Greenback trading higher against the Swiss Franc today morning

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD rose marginally against the CHF and closed at 0.9363.

In the Asian session, at GMT0400, the pair is trading at 0.9364, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9349, and a fall through could take it to the next support level of 0.9334. The pair is expected to find its first resistance at 0.9380, and a rise through could take it to the next resistance level of 0.9396.

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/CAD: Canadian Dollar fell as crude declined on Hurricane worries

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.14% against the CAD to close at 1.0009, as concerns over prospects for global growth bolstered safe haven demand. The Canadian Dollar also slipped as the price of crude oil fell after Hurricane Sandy hit the US East Coast.

In the Asian session, at GMT0400, the pair is trading at 1.0013, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9991, and a fall through could take it to the next support level of 0.9968. The pair is expected to find its first resistance at 1.0027, and a rise through could take it to the next resistance level of 1.0042.

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

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

GCI Forex News - Gold: Gold reverses its previous session losses this morning

Gold Movement

On Friday, Gold prices traded lower by 0.15% against the USD in the 24 hour period ending 24:00GMT, at 1711.26 per ounce.

In the Asian session, at GMT0400, Gold is trading at 1715.05, 0.22% higher from Friday’s close.

Gold is expected to find support at 1704.34, and a fall through could take it to the next support level of 1693.62. Gold is expected to find its first resistance at 1722.31, and a rise through could take it to the next resistance level of 1729.57.

The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.

GCI Forex News - Crude Oil: Crude Oil down in the Asian session as Hurricane Sandy megastorm approaches US

Crude Oil Movement

On Friday, Crude Oil prices advanced marginally against the USD for the 24 hour period ending 24:00GMT, closing at 86.24, after stronger-than-expected US third quarter growth data raised demand prospects.

In the Asian session, at GMT0400, Crude Oil is trading at 85.91, 0.38% lower from Friday’s close, as US refineries lowered crude production ahead of the Hurricane Sandy megastorm nearing the US.

Crude oil is expected to find support at 85.13, and a fall through could take it to the next support level of 84.35. Crude oil is expected to find its first resistance at 86.56, and a rise through could take it to the next resistance level of 87.21.

Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.

GCI Forex News - Silver: White metal trading higher his morning

Silver Movement

On Friday, Silver prices declined 0.28% to the USD32.08 per ounce during the 24 hours ending 24:00GMT.

In the Asian session, at GMT0400, Silver is trading at 32.14, 0.16% higher from Friday’s close.

Silver is expected to find support at 31.71, and a fall through could take it to the next support level of 31.28. Silver is expected to find its first resistance at 32.46, and a rise through could take it to the next resistance level of 32.79.

The white metal is trading just above its 20 Hr and 50 Hr moving averages

GCI Forex News - Crude Oil: Crude Oil rose amid signs of growth in the US economy, trading lower this morning

Crude Oil Movement

Crude Oil prices advanced 0.48% against the USD for the 24 hour period ending 23:00GMT, closing at 86.18, following signs that the US economic growth is accelerating and amid speculation that the Bank of Japan would increase stimulus.

Additionally, concerns that a hurricane could hit the US Northeast, forcing refineries there to reduce output of gasoline and heating oil, also supported oil prices.

In the Asian session, at GMT0300, Crude Oil is trading at 85.64, 0.63% lower from yesterday’s close.

Crude oil is expected to find support at 85.00, and a fall through could take it to the next support level of 84.37. Crude oil is expected to find its first resistance at 86.51, and a rise through could take it to the next resistance level of 87.39.

Crude Oil is trading just below its 20 Hr and 50 Hr moving averages.

GCI Forex News - Silver: White metal reverses its previous session gains this morning

Silver Movement

Silver prices rose 0.96% to the USD32.17 per ounce during the 24 hours ending 23:00GMT.

In the Asian session, at GMT0300, Silver is trading at 31.95, 0.68% lower from yesterday’s close.

Silver is expected to find support at 31.78, and a fall through could take it to the next support level of 31.61. Silver is expected to find its first resistance at 32.18, and a rise through could take it to the next resistance level of 32.42.

The white metal is trading just below its 20 Hr and 50 Hr moving averages.