ECB leaves rates unchanged but signals December hike. Market awaits crucial Non-Farm Payrolls data.
CURRENCY TRADING SUMMARY –3 NOVEMBER 06 (23:30GMT)
- U.S. Dollar Trading (USD) was mixed versus the major currencies with no major data releases to provide direction. In other markets, the Dow Jones index was 33 points lower while the NASDAQ was weaker by 3pts. Crude oil fell by US81c to US$57.90 a barrel. Looking ahead, tonight’s Non Farm Payroll data is crucial with the market looking for +125,000. The unemployment rate is expected to remain the same at 4.6%.
- The Euro (EUR) traded in a range of 1.2740 to 1.2785, before closing near its highs in the
New York
- The Japanese Yen (JPY) traded in a range of 116.67 to 117.35, before closing at 117.15 in the
New York Japan Japan
- The Sterling (GBP) traded in a range of 1.9035 to 1.9107, before closing at 1.9085 in the
New York
- The Australian Dollar (AUD) traded in a range of 0.7706 to 0.7748, before closing at 0.7740 in the
New York
- Gold (XAU) rose by US$8.50 an ounce to US$627.80, before closing at US$625.00.
| Currency | Sup 2 | Sup 1 | Spot | Res 1 | Res 2 | Comments |
| EUR/USD | 1.2662 | 1.2677 | 1.2715 | 1.2800 | 1.2834 | Expect sideways movement before another leg down. |
| USD/JPY | 116.57 | 116.97 | 118.00 | 118.18 | 118.74 | Sideways trading between 108.85-113.00 |
| GBP/USD | 1.8870 | 1.8952 | 1.9015 | 1.9146 | 1.9219 | Break below Sup 2 signals move to 1.7270 |
| AUD/USD | 0.7623 | 0.7671 | 0.7695 | 0.7769 | 0.7795 | .7365 is the target for downtrend. |
| XAU/USD | 598.50 | 614.55 | 627.00 | 629.50 | 640.60 |
- Euro 1.2780
Initial support at 1.2677 (Oct 31 low) followed by 1.2597 (Oct 26 low). Initial resistance is now located at 1.2834 (Sep 22 high) followed by 1.288 (Aug 31 high).
- Yen 117.15
Initial support is located at 116.57 (Nov 1 low) followed by 116.06 (Sep 22 corrective low). Initial resistance is now at 118.06 (Oct 31 high) followed by 118.74 (Oct 27 high).
- Pound – 1.9075
Initial support at 1.9032 (Nov 2 low) followed by 1.8952 (Oct 30 low). Initial resistance is now at 1.9146 (Aug 8 reaction high) followed by 1.9219 (Apr 20, 2005 high).
- Australian Dollar – 0.7740
Initial support at 0.7671 (Oct 31 low) followed by 0.7623 (Oct 27 low). Initial resistance is now at 0.7795 (May 11 trend high) followed by 0.781 (Jun 21, 2005 reaction high).
- Gold – 624.00
Initial support at 598.5 (Oct 31 low) followed by 580.05 (Oct 25 low). Initial resistance is now at 625.95 (Nov 1 high) followed by 640.6 (Sep 6 high).
