{"id":12970,"date":"2010-09-13T14:42:56","date_gmt":"2010-09-13T18:42:56","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12970"},"modified":"2010-09-13T14:42:56","modified_gmt":"2010-09-13T18:42:56","slug":"forex-daily-market-commentary-109","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/13\/forex-daily-market-commentary-109\/","title":{"rendered":"Forex Daily Market Commentary"},"content":{"rendered":"<p><strong>By GCI Forex Research<\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\"> Fundamental Outlook at  \t\t\t1400 GMT (EDT + 0400)<\/span><\/strong><\/p>\n<p><strong> <\/strong><\/p>\n<p><strong> <\/strong><\/p>\n<p><strong>\u20ac<\/strong><\/p>\n<p><strong>The euro appreciated  \t\t\tsharply vis-\u00e0-vis the U.S. dollar today<\/strong> as  \t\t\tthe single currency tested offers around the US$ 1.2845 level and  \t\t\twas supported around the $1.2700 figure.\u00a0 The common currency  \t\t\trocketed higher during the Australasian and European sessions on  \t\t\taccount of two main catalysts. First, it was reported that banks  \t\t\twould have as many as eight years to comply with new capital  \t\t\trequirement rules that were announced over the weekend in Basel.\u00a0  \t\t\tThe new \u201cBasel III\u201d accord is designed to strengthen banks\u2019 balance  \t\t\tsheets and avert another financial meltdown.\u00a0 The gradual  \t\t\timplementation of the accord, however, may leave the global banking  \t\t\tsystem at greater risk.\u00a0 Second, Chinese economic data released  \t\t\tovernight were stronger-than-expected and these data partially  \t\t\taltered the view that China\u2019s economic recovery was decelerating.\u00a0  \t\t\tThere were no major economic data released in the U.S. today and  \t\t\tAugust retail sales data will be released tomorrow with many  \t\t\tforecasts calling for gains around +0.3%.\u00a0 U.S. bond giant PIMCO is  \t\t\tnow forecasting a 10-year U.S. Treasury note yield around 1.75% in  \t\t\tQ1 2011, compared with its current level of 2.78%.\u00a0 <strong>In eurozone  \t\t\tnews<\/strong>, Q2 eurozone labour costs will be released tomorrow along  \t\t\twith the September ZEW survey and July industrial production.\u00a0  \t\t\tGerman August wholesale prices data will be released tomorrow along  \t\t\twith the September ZEW survey and French data released today saw the  \t\t\tJuly current account deficit narrow to -\u20ac2.2 billion.\u00a0 Germany\u2019s  \t\t\tBundesbank reiterated it sees a \u201csignificant\u201d capital need for  \t\t\tGerman banks.\u00a0 ECB President Trichet reported he sees \u201cmeager\u201d  \t\t\tgrowth in advanced economies.\u00a0 The European Union now expects the  \t\t\teurozone economy will have grown about 1.7% in 2010.\u00a0 ECB member  \t\t\tWellink reported European banks will require hundreds of billions of  \t\t\teuro in new capital to comply with the new Basel capital adequacy  \t\t\trequirements.\u00a0 Euro offers are cited around the US$ 1.3240 level.<\/p>\n<p><strong> \u00a5\/ CNY<\/strong><\/p>\n<p><strong> The yen appreciated vis-\u00e0-vis the U.S. dollar today<\/strong> as the greenback tested bids around the \u00a583.85  \t\t\tlevel and was capped around the \u00a584.35 level. \u00a0The pair moved to  \t\t\tintraday lows during the European session and North American dealers  \t\t\tchallenged this area despite the yen\u2019s decline elsewhere.\u00a0  \t\t\tStronger-than-expected Chinese economic data kept the greenback on  \t\t\tthe defensive today.\u00a0 Bank of Japan Governor Shirakawa was appointed  \t\t\tchairman of the Bank for International Settlements Asian  \t\t\tConsultative Council.\u00a0 Institutional investors are said to have  \t\t\tasked the Japanese government to maintain the size of its Japanese  \t\t\tgovernment bond buyback program.\u00a0 All eyes are on the Democratic  \t\t\tParty of Japan leadership election battle tomorrow between Prime  \t\t\tMinister Kan and Ichiro Ozawa.\u00a0 Many dealers believe Kan will win  \t\t\tthe battle but a victory by either party is not likely to have a  \t\t\tmaterial impact on Japanese economic or financial policy.\u00a0 The  \t\t\tgovernment will likely keep pressure on the central bank to ease  \t\t\tpolicy further.\u00a0 Data to be released in Japan overnight include  \t\t\tAugust Tokyo-area condominium sales, July industrial production, and  \t\t\tJuly capacity utilization.\u00a0 The Nikkei 225 stock index climbed 0.89%  \t\t\tto close at \u00a59,321.82.\u00a0 U.S. dollar bids are cited around the \u00a584.60  \t\t\tlevel.\u00a0 \u00a0<strong>The euro moved higher <\/strong>vis-\u00e0-vis the yen as the  \t\t\tsingle currency tested offers around the \u00a5107.90 level and was  \t\t\tsupported around the \u00a5106.95 level.\u00a0 <strong>The British pound moved  \t\t\thigher <\/strong>vis-\u00e0-vis the yen as sterling tested offers around the  \t\t\t\u00a5130.10 level while <strong>the Swiss franc moved higher <\/strong>vis-\u00e0-vis  \t\t\tthe yen and tested offers around the \u00a583.00 figure. <strong>In Chinese  \t\t\tnews<\/strong>, the U.S. dollar depreciated vis-\u00e0-vis the Chinese yuan as  \t\t\tthe greenback closed at CNY 6.7618 in the over-the-counter market,  \t\t\tdown from CNY 6.7696. \u00a0Economic data released in China overnight was  \t\t\tstronger-than-expected and Prime Premier Wen indicated China\u2019s  \t\t\teconomy is \u201cin good shape.\u201d\u00a0 Industrial production was up 13.9% y\/y  \t\t\tand both retail sales and lending data exceeded forecasts.\u00a0 Data  \t\t\talso revealed inflation printed at 3.5%, 1.25% above the benchmark  \t\t\tone-year deposit rate.\u00a0 Some traders believe People\u2019s Bank of China  \t\t\twill be forced to raise rates on account of this imbalance while  \t\t\tother economists believe these inflation data will cool.\u00a0 Today\u2019s  \t\t\tintraday high for the yuan represented a record high following the  \t\t\tend of the dollar peg in July 2005.\u00a0 The U.S. House Ways and Means  \t\t\tCommittee will discuss China\u2019s currency policy on 15-16 September.<\/p>\n<p><strong> \u00a3<\/strong><\/p>\n<p><strong>The British pound  \t\t\tappreciated vis-\u00e0-vis the U.S. dollar today<\/strong> as cable tested offers around the US$ 1.5485 level and was supported  \t\t\taround the US$ 1.5350 level.\u00a0 Data to be released in the U.K.  \t\t\tovernight include August RICS house prices, August Nationwide  \t\t\tconsumer confidence, July DCLG house prices, August consumer price  \t\t\tinflation, and August retail prices.\u00a0 Bank of England Governor King  \t\t\twill give a speech this week that will be closely watched given his  \t\t\tsupport for Prime Minister Cameron\u2019s spending cuts.\u00a0 Cable bids are  \t\t\tcited around the US$ 1.5115 level.\u00a0 <strong>The euro appreciated<\/strong> vis-\u00e0-vis the British pound as the single currency tested offers  \t\t\taround the \u00a30.8335 level and was supported around the \u00a30.8265 level.<\/p>\n<p><strong> CHF<\/strong><\/p>\n<p><strong>The Swiss franc  \t\t\tappreciated vis-\u00e0-vis the U.S. dollar today<\/strong> as the greenback tested bids around the CHF 1.0100 figure and was  \t\t\tcapped around the CHF 1.0205 level. \u00a0\u00a0Data released in Switzerland  \t\t\ttoday saw August producer and import prices climb 0.1% m\/m and 0.5%  \t\t\ty\/y, exceeding forecasts.\u00a0 The September Credit Suisse ZEW survey  \t\t\twill be released on Wednesday.\u00a0 Swiss National Bank Chairman  \t\t\tHildebrand spoke today and was supportive of the new Basel III  \t\t\tcapital revisions.\u00a0 Hildebrand also reported UBS and Credit Suisse  \t\t\tmaintain \u201cmany capital options.\u201d SNB is expected to keep monetary  \t\t\tpolicy unchanged this week when its interest rate announcement is  \t\t\treleased.\u00a0 U.S. dollar offers are cited around the CHF 1.0290  \t\t\tlevel.\u00a0 <strong>The euro appreciated<\/strong> vis-\u00e0-vis the Swiss franc as the  \t\t\tsingle currency tested offers around the CHF 1.3035 level while <strong> the British pound moved lower<\/strong> vis-\u00e0-vis the Swiss franc and  \t\t\ttested bids around the CHF 1.5545 level.<\/p>\n<p><strong> <\/strong><\/p>\n<p><strong> <\/strong><\/p>\n<p><strong> <\/strong><\/p>\n<p><strong> Technical Outlook at 1230  \t\t\tGMT (EDT + 0400)<\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\"> <\/span><\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\"> <\/span><\/strong><\/p>\n<p><strong> (Bid Price)<\/strong> <strong>(Today\u2019s Intraday  \t\t\tRange) <\/strong><\/p>\n<p>EUR\/ USD\u00a0\u00a0\u00a0\u00a0\u00a0 1.2830\u00a0\u00a0  \t\t\t\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01.2844, 1.2702<br \/>\nUSD\/ JPY\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 83.98\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a084.35, \u00a0\u00a083.83<br \/>\nGBP\/ USD\u00a0\u00a0\u00a0\u00a0\u00a0 1.5398 \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01.5487, 1.5351<br \/>\nUSD\/ CHF\u00a0\u00a0\u00a0\u00a0\u00a0 1.0124 \u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01.0206, 1.0114<br \/>\nAUD\/USD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.9333\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a00.9338, 0.9286<br \/>\nUSD\/CAD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.0291 \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01.0344,  \t\t\t1.0281<br \/>\nNZD\/USD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7317\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a00.7340, 0.7282<br \/>\nEUR\/ JPY\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 107.68 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0107.92, 106.94<br \/>\nEUR\/ GBP\u00a0\u00a0\u00a0\u00a0\u00a0 0.8325 \u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a00.8333, 0.8269<br \/>\nGBP\/ JPY\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0129.30 \u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0130.09, 129.21<br \/>\nCHF\/ JPY\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 82.86 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a082.97,\u00a0\u00a0 82.53<\/p>\n<p><strong> Support \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Resistance\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\tSupport\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Resistance<\/strong><\/p>\n<p><strong> EUR\/  \t\t\tUSD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0 USD\/  \t\t\tJPY<\/strong><\/p>\n<p>L1.  \t\t\t\u00a0\u00a0\u00a0\u00a0\u00a0 1.2575\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.2870\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t\u00a0\u00a0 81.80\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 87.15<\/p>\n<p>L2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.2440\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.3045\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t\u00a0\u00a0\u00a080.80\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 88.25<br \/>\nL3. \u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.2220\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.3290\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0  \t\t\t77.20\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 89.45<\/p>\n<p><strong> GBP\/  \t\t\tUSD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0 USD\/ CHF<\/strong><\/p>\n<p>L1.  \t\t\t\u00a0\u00a0\u00a0\u00a0\u00a0 1.5230\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.5810\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.0215\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.0600<\/p>\n<p>L2.  \t\t\t\u00a0\u00a0\u00a0\u00a0\u00a0 1.5010\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.6040\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.0095\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.0820<\/p>\n<p>L3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.4860\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.6210\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.9925\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.1040<\/p>\n<p><strong> AUD\/  \t\t\tUSD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 USD\/ CAD<\/strong><\/p>\n<p>L1.  \t\t\t\u00a0\u00a0\u00a0\u00a0\u00a0 0.8645\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.8965\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.0450\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.0860<\/p>\n<p>L2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.8510\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.9065\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.0240\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.1060<\/p>\n<p>L3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t \t\t\t0.8345\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.9220\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.0005\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.1490<\/p>\n<p><strong> NZD\/  \t\t\tUSD\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 EUR\/ JPY<\/strong><\/p>\n<p>L1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.6910\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7220\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t103.40\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 108.90<\/p>\n<p>L2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.6590\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7445\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t101.15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 113.25<\/p>\n<p>L3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.6265\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.7585\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0  \t\t\t99.90\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 118.05<\/p>\n<p><strong> EUR\/  \t\t\tGBP\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 EUR\/ CHF<\/strong><\/p>\n<p>L1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.7870\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.8320\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.2845\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.3330<\/p>\n<p>L2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.7785\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.8535\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.2650\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.3615<\/p>\n<p>L3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t0.7415\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.8745\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t1.2430\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1.3985<\/p>\n<p><strong> GBP\/  \t\t\tJPY\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0 CHF\/ JPY<\/strong><\/p>\n<p>L1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t126.70\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 135.35\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0  \t\t\t78.35 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a082.65<\/p>\n<p>L2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t123.30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 138.40\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0  \t\t\t76.45\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 85.80<\/p>\n<p>L3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \t\t\t118.85\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 140.70\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0  \t\t\t75.05\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a087.15<\/p>\n<p><em><strong>Forex Daily   Market Commentary<\/strong><\/em> <strong><em>provided                                                     by<\/em><\/strong> <strong><a href=\"http:\/\/gcitrading.com\/\" target=\"_blank\"><strong>GCI   Financial                                    Ltd<\/strong><\/a>.<\/strong><\/p>\n<p>GCI Financial Ltd (\u201dGCI\u201d) is a regulated securities and commodities                                                                                trading       firm,              specializing    in        online                Foreign                   Exchange                       (\u201dForex\u201d)                                  brokerage.      GCI          executes                  billions      of          dollars     per                        month  in              foreign                                exchange                  transactions         alone.     In               addition      to                Forex,    GCI              is a          primary                             market       maker    in                Contracts          for                          Difference     (\u201dCFDs\u201d)             on            shares,          indices                 and                      futures,           and            offers      one     of        the           fastest                  growing     online      CFD                      trading                                    services.    GCI    has         over          10,000             clients                  worldwide,               including                                  individual                     traders,                     institutions,       and       money               managers.      GCI                              provides           an             advanced,                     secure,     and                          comprehensive        online                         trading                 system.          Client      funds      are                     insured                and     held  in   a                                   separate        customer       account.       In                    addition,    GCI                                Financial        Ltd                        maintains     Net       Capital         in         excess    of                     minimum                 regulatory                                  requirements.<\/p>\n<p>DISCLAIMER: GCI\u2019s Daily Market Commentary is provided for                                                                            informational          purposes       only.     The               information                contained        in             these                  reports                               is      gathered               from     reputable           news              sources     and         is     not                intended        to                be                U.S.ed        as                      investment    advice.         GCI          assumes       no                             responsibility          or                        liability            from         gains         or            losses           incurred       by            the              information                  herein                         contained.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The euro appreciated sharply vis-\u00e0-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2845 level and was supported around the $1.2700 figure.  The common currency rocketed higher during the Australasian and European sessions on account of two main catalysts&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12970","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=12970"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12970\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}