The dollar remained broadly higher against a majority of currencies in late trading Tuesday, as disappointing data were released earlier in the day against EUR and GBP.
EUR/USD fell sharply on Tuesday posting its fourth straight losing session, ahead of appearances by Mario Draghi and Janet Yellen this week, which could provide further indications of a divergence in monetary policy between two of the world’s largest central banks. EUR/USD edged down to the low’s of 1.1126 late in the session after rising to 1.11207 earlier in the session.
Investors await a highly-anticipated appearance by European Central Bank president Mario Draghi today before the European Parliament’s Committee on Economic and Monetary Affair for hints on whether the ECB could extend its comprehensive EUR 1.1 trillion quantitative easing program. It will come days after ECB Chief Economist Peter Praet suggested that persistent weaknesses in the global economy could prompt the central bank to introduce further stimulus measures to boost economic activity throughout the euro zone. Yellen, meanwhile, will make her first public appearance since the Fed opted to hold short-term interest rates at its current near-zero level last week, when she delivers a speech at the University of Massachusetts at Amherst.
The Australian dollar finished the day lower, with AUD/USD retracing 0.48% to 0.70949, while NZD/USD slid to 0.6273. Data earlier showed that quarterly HPI in Australia increased by 2.2% after a 0.6% slip last quarter.
Meanwhile, USD/CAD rose to 1.32998 reaching last week’s highs.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, surged more than 0.6% to an intraday high of 96.58, its highest level in nearly two weeks.
Daily Technical Levels
R:Resistance
S:Support
EUR/USD
GBP/USD
USD/JPY
AUD/USD
USD/CAD
USD/CHF
R3:
1.12911
1.54604
120.753
0.71683
1.33458
.98062
R2:
1.12546
1.54318
120.498
0.71507
1.33107
.97852
R1:
1.11974
1.53961
120.163
0.71266
1.32904
.97631
S1:
1.11026
1.53280
119.694
0.70543
1.32089
.97051
S2:
1.10739
1.52978
119.445
0.70332
1.31750
.96692
S3:
1.10155
1.52645
119.116
0.69978
1.31574
.96406
Currency Strength & Weaknesses
Overall there is strength in the USD and GBP. Overall there is weakness in the NZD, EUR.
Economic Calendar 23/09/15 GMT+2
Economic Calendar 23/09/15
Time
Market Impact
Event-Announcement
Forecast
Previous
10:00
EUR
French Flash Manufacturing PMI
49.2
48.3
French Flash Services PMI
50.9
50.6
10:30
German Flash Manufacturing PMI
52.8
53.3
German Flash Services PMI
54.5
54.9
11:00
Flash Manufacturing PMI
52.2
52.3
Flash Services PMI
54.1
54.4
15:30
CAD
Core Retail Sales m/m
0.4%
0.8%
Retail Sales m/m
0.5%
0.6%
16:00
ECB President – Mario Draghi Speaks
-
16:45
USD
53.0
17:30
Crude Oil Inventories
-1.0M
-2.1M
20:00
FOMC Member Lockhart Speaks
GMT+2
High Impact
Medium Impact
Low Impact
Neutral
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