U.S. debt ceiling and the sign of a solution that satisfies all parties to the U.S. administration
Once the receipt of news about the possibility of reaching a solution satisfactory to all parties in the administration about the debt ceiling, this led to higher U.S. dollar in the market during trading yesterday significantly. Despite all that issued from that it is just an outline without details it is expected that the display size and scope of the agreement separately from the Republicans and Democrats. It is therefore possible to see the return of the U.S. dollar lower again, and so are getting more details of the General Agreement between the joint forces of the state. Economic Analysis
U.S. dollar:
U.S. dollar fell slightly after rising waiting for more details about the agreement.
U.S. dollar down at the end of trading yesterday after it rose strongly in early trading today. After receipt of a conflict of Bishop Agreement on the roof of the White House and Congress. Which reflected positively on safe-haven currencies like the Swiss franc and Japanese yen which a record high during trading yesterday significantly. The U.S. dollar may decline Mkablhma also dramatically during trading yesterday due to the lack of clarity about the agreement the U.S. of America. On the other hand, the news to raise the roof so far not obtained assurances about them in terms of customers. So it was natural to see a return to the U.S. dollar slightly lower. Meanwhile it with the receipt of many of the negative news from the U.S. economy and European dealings during the last period, this has worsened the pessimism of customers significantly. Which led to lower-yielding currencies like the euro and the pound and Australian dollar. On the other hand, it is expected today, the adoption of several important economic data. Which is expected to be the cause of many of the dealers to amend their positions in the market significantly. It is expected today's release of data on the rates of personal income in addition to U.S. spending rates for U.S. consumers. In the case of negative results on this matter it will be the expectation of the direction of many of the dealers towards the safe-haven currencies such as the U.S. dollar and Swiss franc and Japanese yen. But will not lead to an increase in the U.S. dollar against currencies other safe. On the other hand, it must also follow up on the dealers of economic data due out of the Swiss franc to significantly impact on the movement of the franc today.
Swiss franc:
Swiss retail sales shop to wait a day.
Swiss franc saw a big increase in trading last week against other currencies because of the high risk significantly, which led to the rise of the franc as a safe-haven currencies. He was the Swiss franc rose against the U.S. dollar significantly during trading yesterday because of the lack of clarity of vision of the Agreement on the roof of America. Rate risk, prompting a rise again in the market. On the other side of the world, the European is still also replace many of the fears of investors in the market. A lot of economists are still worried about low levels of consumer confidence in the European region. But we must note that the Swiss economy is affected by both the European Economic problems or not affected, this will not affect much on the dealings of the Swiss franc as it relates to rates of risk than with the Swiss economic data itself. In general it is expected to release data today about the Swiss retail sales, which will give a lot of tips on rates of consumer confidence, which will contribute in determining the fate of the Swiss franc during the day as well. Today is expected to release data on the Swiss retail sales at exactly 8:15 pm GMT. As at 8:30 GMT, it will issue a report on the SVME PMI, which will explain a lot of data on consumption rates and inflation rates.
Australian dollar:
Rates of risk lead to mixed Australian dollar.
Australian dollar declined against most currencies during the corresponding trading yesterday, and with the direction of a lot of customers about safe-haven currencies. On the other hand, the Australian dollar was recorded almost the same performance since the period due to the high rates of risk significantly in the market. There were concerns about the agreement the U.S. which led to the ouster of the customers of the high-risk currencies like the Australian dollar. And dramatically it was only natural to record the Australian dollar lower against the low-risk currencies like the Swiss franc and Japanese yen. But with the market waiting for the adoption of several important economic data during the day, it is expected high rates of vibration a bit. In addition, the news from China during the trading day yesterday as well that will work on high frequency significantly associated with a private exchange with each other, such as the Japanese yen, Australian dollar and New Zealand dollar as well.
Crude oil:
The stability of prices of crude oil amid uncertainty roof during the current period. But there are a lot of evidence that point to the possibility of a decline in the market which would impact on crude oil also in turn. Especially since economic data and European works on the direction of many of the dealers to the safety significantly. Especially with regard to rates of industrial production and consumption of consumers. All these factors that led to high risk and high U.S. dollar was reason enough to lower crude oil during the past two trading days. But with the existence of a state of uncertainty the U.S. dollar, it is possible to continue in the form of crude oil during the cross movement of the rest of the week.
Technical Analysis
EUR / USD
Appears on the weekly chart of the Japanese model Candles "drain" rally, has said the wrong line after the break the downward trend that extends from the highest levels recorded by the price in May and July. After the retreat from this line of resistance, formed candle "doji" reflexivity, which refers to the potential decline of the euro / dollar. It seems that the first support level is at 1.4025, which represents the moving average of two hundred days. The next level of 1.3930, which represents the moving average of two hundred days. There is also support at the trend line extending upward from the lowest level in May. On the upside, the price will be needed to maintain the level of 1.4580 for the continuation of the bearish technical picture. In the case of close above this level, you may test the 1.4700 level and price level of 1.4940.
GBP / USD
After three weeks of continuous rise of the British pound, the technical picture begins to change from bearish to bullish. The Pound rose above the level of resistance, which was supposed to repel any higher. The breach occurs first is a breakthrough line of the neck to form the head and shoulders at the level of 1.6185, while the breach occurs following the level of 1.6370, which is located at the former landed upside extending from the lowest level in May. At the present time, it will be the first level of resistance at the highest level of record on May 31 at 1.6550, followed by the highest level in April, at the 1.6745. In the case of lower GBP / USD, it is likely to test support at 1.6220, followed the previous trend line break and extending the highest level in April, which is now at 1.6140. In the case of breach of 1.6000 may extend towards the price level of 1.5780.
U.S. Dollar / Japanese Yen
Yen strength came back strongly. The pair closed on a graph of the candles Japanese model of "bottom Almst" which indicates that the momentum is heading in the downward direction. The pair opened this week gap for the highest price, but the price has managed to survive under the short-term trend line extending from the highest level of record on July 20 and which is now at 78.05. There may be additional resistance at 79.60 and at 80.15, which represents the moving average of fifty-five days. Initial support is located at 76.70, the lowest level recorded last week, followed by the level of 76.11, its lowest level ever recorded, which in March. In the case of break of this level, the price will move to an area not reached by then was up to the psychological barrier at 75 and 70.
Dollar / Swiss Franc
The Swiss franc in the same situation as the Japanese yen, which tends to an area not reached by the graph, and there is still a tendency to sell, but it may be a gap opening up that appeared on Monday led to a model of "thief" reflex, which may lead to achieve some minor gains for the pair. The resistance level is at 0.8080 and 0.8275. In the case of rising above these levels, this may be the opportunity to sell to return to trend downward with a long-term target levels as large as 0.7800.
EUR / JPY:
EUR / JPY down during trading yesterday to levels below 109.50, before recovering slightly to 110.27 levels. The performance comes amid expectations of potential customers the Japanese central bank intervened again in the market to prevent the continuation of the yen from rising. In general, the pair faces resistance at 112.15 levels while the levels of support are located at 106.25.
