USD Slips Against Majors

After the dollar has been getting some support from the speculations in the market regarding a rate hike, we are seeing this disappear today as the greenback starts to lose strength. Today the U.S. is scheduled to release their durable goods with expectations showing that they will decrease basically might delay the anticipated rate hike since this is showing us that growth is still weak.

The euro is gaining on the back of the depreciating greenback as we are seeing a correctional move to the great fall. The MACD indicator is showing us an upside direction after the single currency hit the support of 1.4630 gathering enough strength working its way to the resistance of 1.4825 but struggling. The EUR/USD is currently traded at 1.4721 while recording a high of 1.4743 and a low of 1.4644.

Although the pound has been slipping in the markets, now like the euro it is also rising on the back of the dollar. The UK economy is fundamental free yet the sterling is still pressured from the deteriorating economy but today lucky for it the greenback is boosting its appearance. The GBP/USD is currently traded at 1.8447 while recording a high of 1.8477 and a low of 1.8389 as the momentum indicators are showing us upside movement towards the resistance of 1.8505.

In the markets we are seeing unwinding of carry trades as investors buy low yielding currencies and sell high yielding currencies. The yen benefits from this as the USD/JPY are currently traded at 108.81 while recording a high of 109.55 and a low of 108.69 as we see a support at 108.80.

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.