GCI Forex News - USD/CHF: Swiss Franc trading lower

USDCHF Movement

For the 24 hours to 23:00 GMT, the USD declined 0.55% against the CHF and closed at 0.9209.

In Switzerland, foreign currency reserves narrowed slightly to CHF427.2 billion in December, from CHF427.4 billion in November.

In the Asian session, at GMT0400, the pair is trading at 0.9215, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9182, and a fall through could take it to the next support level of 0.9149. The pair is expected to find its first resistance at 0.9267, and a rise through could take it to the next resistance level of 0.9320.

Trading trends in the pair today are expected to be determined by the release of the unemployment rate data in Switzerland.

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

GCI Forex News - GBP/USD: UK’s Lloyds employment confidence index rises in December

GBPUSD Movement

For the 24 hours to 23:00 GMT on Friday, GBP fell marginally against the USD and closed at 1.6069, weighed down by disappointing UK economic data.

On the economic front, UK’s mortgage approvals for house purchases rose to a seasonally adjusted 54,036 in November, up from 53,071 in October. Additionally, consumer credit increased by £0.1 billion in November, following a decline of £0.3 billion in October. The seasonally adjusted purchasing managers’ index for the service sector dropped to 48.9 in December, from 50.2 in November. Also, M4 money supply declined 0.2% (MoM) in November, following a 0.2% rise in October.

In the Asian session, at GMT0400, the pair is trading at 1.6036, with the GBP trading 0.2% lower from Friday’s close.

On Sunday, UK’s Prime Minister, David Cameron predicted a difficult year for the country indicating that the economy that would require maintaining the current mix of low interest rates and budget-deficit reduction.

This morning, the Lloyds employment confidence index in the UK, remained unchanged at a reading of -42.0 in December, compared to a similar reading recorded in the previous month.

The pair is expected to find support at 1.6003, and a fall through could take it to the next support level of 1.597. The pair is expected to find its first resistance at 1.6076, and a rise through could take it to the next resistance level of 1.6116.

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

GCI Forex News - AUD/USD: Australian Dollar boosted by stronger US economic data, trading lower in the Asian session

AUDUSD Movement

For the 24 hours to 23:00 GMT on Friday, the AUD strengthened 0.30% against the USD to close at 1.0481, after non-farm payroll employment in the US rose in line with market estimates in the month of December. Additionally, economic activity in the US service sector unexpectedly expanded at a faster rate in December.

LME Copper prices declined 1.4% or $114.8/MT to $8025.5/MT. Aluminium prices declined 2.5% or $52.8/MT to $2055.5/MT.

In the Asian session, at GMT0400, the pair is trading at 1.0472, with the AUD trading marginally lower from Friday’s close.

The pair is expected to find support at 1.0407, and a fall through could take it to the next support level of 1.0342. The pair is expected to find its first resistance at 1.0525, and a rise through could take it to the next resistance level of 1.0578.

Trading trends in the pair today are expected to be determined by the release of the AiG performance of construction index.

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

GCI Forex News - EUR/USD: Euro buoyed by positive economic data in the Euro-zone and the US, trading lower this morning

EURUSD Movement

For the 24 hours to 23:00 GMT on Friday, EUR rose 0.34% against the USD and closed at 1.3069, boosted by upbeat Euro-zone and US economic data.

On the economic front, Euro-zone’s services purchasing managers’ index (PMI) climbed to 47.8 in December, from a reading of 46.7 in November, while the composite output index rose to 47.2 in December, from 46.5 in November. However, the consumer price index (CPI) remained unchanged at a seasonally adjusted annual rate of 2.2% in December, from 2.2% in the preceding month. Meanwhile, Germany’s purchasing managers index (PMI) for the services sector rose to 52.0 in December, slightly lower than 52.1 estimated earlier, and compared to 49.7 in November. Also, retail sales climbed 1.2% (MoM) on a seasonally-and-calendar adjusted basis in November, compared to a 1.3% drop in the previous month.

In France, the services purchasing managers’ index (PMI) fell to a seasonally adjusted 45.2 in December, compared to earlier estimate of 46.0.

The Euro also found support after the US Department of Labor indicated that the economy added 155,000 jobs in December, slightly higher than forecasts for an increase of 150,000, but easing from an upwardly revised increase of 161,000 in November. The unemployment rate held steady at 7.8%.

In the Asian session, at GMT0400, the pair is trading at 1.3039, with the EUR trading 0.23% lower from Friday’s close.

The pair is expected to find support at 1.2995, and a fall through could take it to the next support level of 1.2950. The pair is expected to find its first resistance at 1.3086, and a rise through could take it to the next resistance level of 1.3134.

Trading trends in the pair today are expected to be determined by the release of Sentix investor confidence and the producer price index in the Euro-zone.

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

GCI Forex News - Crude Oil: Crude oil losing ground in the Asian session

Crude Oil Movement

Crude Oil prices traded flat against the USD for the 24 hour period ending 23:00GMT, closing at 92.77.

Oil prices came under pressure after the US Federal Reserve policy makers signaled that they may end a stimulus program this year, raising concern that the economic recovery may falter in the world’s biggest crude user.

Late yesterday, the American Petroleum Institute reported that the crude-oil supplies dropped by 12 million barrels for the week ended December 28. Gasoline inventories rose 3.3 million barrels while distillate stocks climbed 6.7 million barrels.

In the Asian session, at GMT0400, Crude Oil is trading at 92.19, 0.63% lower from yesterday’s close.

Crude oil is expected to find support at 91.79, and a fall through could take it to the next support level of 91.38. Crude oil is expected to find its first resistance at 92.95, and a rise through could take it to the next resistance level of 93.70.

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

GCI Forex News - Silver: Silver plunges more than 3% yesterday on firm dollar

Silver Movement

Silver prices declined 3.03% to the USD30.12 per ounce during the 24 hours ending 23:00GMT, as the greenback strengthened.

In the Asian session, at GMT0400, Silver is trading at 29.72, 1.31% lower from yesterday’s close.

Silver is expected to find support at 29.03, and a fall through could take it to the next support level of 28.34. Silver is expected to find its first resistance at 30.77, and a rise through could take it to the next resistance level of 31.82.

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

GCI Forex News - USD/CAD: Loonie trading flat ahead of Canadian unemployment report

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.27% against the CAD to close at 0.9884, after the minutes from the US Federal Reserve’s latest policy meeting revealed that it may end monetary stimulus as early as this year.

In the Asian session, at GMT0400, the pair is trading at 0.9886, with the USD trading flat from yesterday’s close.

The pair is expected to find support at 0.9854, and a fall through could take it to the next support level of 0.9822. The pair is expected to find its first resistance at 0.9907, and a rise through could take it to the next resistance level of 0.9929.

The release of the unemployment report in Canada is likely to set the tone for the Loonie in today’s trading session.

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

GCI Forex News - Gold: Gold tumble after FOMC minutes

Gold Movement

Gold prices traded lower by 1.57% against the USD in the 24 hour period ending 23:00GMT, at 1661.04 per ounce, as the dollar strengthened after the FOMC minutes indicated that quantitative easing may be ending this calendar year.

In the Asian session, at GMT0400, Gold is trading at 1650.74, 0.62% lower from yesterday’s close.

Gold is expected to find support at 1634.61, and a fall through could take it to the next support level of 1618.47. Gold is expected to find its first resistance at 1677.74, and a rise through could take it to the next resistance level of 1704.74.

The yellow metal is trading much below its 20 Hr and 50 Hr moving averages.