By Easy-Forex – The Dollar rose across the board in flat trading against the major currencies in the overnight session as the market weighed in… … on a possible rate hike at the end of this month.

US homebuilder sentiment dropped by 4pts as the NAHB survey showed a level of 42 compared to an estimate of 45. Dallas Federal Reserve president Richard Fisher commented that there was no imminent crisis in the housing sector. Shortly after, Atlanta Federal president Jack Guynn raised concerns again about the size of the federal budget deficit. In other markets, the Dow Jones index fell by 72pts and the NASDAQ retreated by 19pts. Crude oil prices fell as Iran commented on the positive atmosphere created by Western nations in their bid to discuss its nuclear ambitions. Crude oil ended at US$68.98 a barrel, a drop of US90c. Looking ahead, housing starts is due out today.

The Euro traded in a range of 1.2553 to 1.2652, before closing at 1.2575 in the New York session. On the data front, trade balance came in at -$2billion versus estimates of -$1billion.

The Japanese yen traded in a range of 115.07 to 115.77 versus the dollar, before closing at 115.54 in the New York session. On the data front, the minutes of the May BoJ meeting are due out today.

The Sterling traded in a range of 1.8370 to 1.8532, before closing at 1.8403 in the New York session. Looking ahead, M4 money supply is due out today.

The Aussie traded in a range of 0.7357 to 0.7385, before closing at 0.7363 in the New York session.

Gold fell by US$9.30 to $572.40 an ounce, dragged down by a stronger greenback and weaker oil prices. Base metals too fell sharply due to fears of slowing growth in the US and China.

Euro 1.2570
Initial support at 1.2552 (June 19 low) followed by 1.2530 (Jun 13 low). Initial resistance is now located at 1.2674 (June 16 high) followed by 1.2686 (Jun 9 high).

Yen 115.50
Initial support is located at 114.55 (June 16 low) followed by 113.56 (Jun 9 low). Initial resistance is now at 115.78 (June 19 high) followed by 115.98 (April 24 high and former gap low).

Pound – 1.8400
Initial support at 1.8368 (June 19 low) followed by 1.8316 (Jun 13 corrective low). Initial resistance is now at 1.8561 (Jun 16 high) followed by 1.8579 (Jun 8 high).

Aussie – 0.7365
Initial support at 0.7345 (June 14 low) followed by 0.7313 (61.8% retracement of 0.7015 to 0.7795 advance). Initial resistance is now at 0.745 (June 16 high) followed by 0.7505 (June 9 corrective high).

By Easy-Forex

By Easy-Forex – The Dollar was mostly flat against the other major currencies as a narrower than expected US current account deficit data was overshadowed… Read the rest of this entry »

By Easy-Forex – The Dollar weakened against the major currencies in the overnight session as industrial production and net foreign security purchases came in weaker… Read the rest of this entry »

By Easy-Forex – The Dollar initially strengthened then lost ground against the major currencies in the overnight session as US CPI came out stronger than… Read the rest of this entry »

By Easy-Forex – The Dollar continued its impressive strength against the major currencies in the overnight session, after the ECB decided to lift interest rates by only 25… Read the rest of this entry »

By Easy-Forex – The Dollar strengthened last night on the back of hawkish comments by Atlanta Federal Reserve president Jack Guynn after he stated that… Read the rest of this entry »

By Easy-Forex – The Dollar strengthened in the overnight session against the major currencies after Federal Reserve chairman Bernanke expressed his concern in the rise… Read the rest of this entry »

By Easy-Forex – Dollar fell on Friday and was still within its recent range play but the extent of weakness in the data outcomes pushed… Read the rest of this entry »

By Easy-Forex – Dollar’s price action mirrored the day before and again it has been a case of so near yet so far in terms… Read the rest of this entry »

By Easy-Forex – Dollar pared back some of its gains but the market’s assertion to play the range on all majors has made the Dollar… Read the rest of this entry »

By Easy-Forex – Dollar strengthened further in holiday thin markets with positives emanating from the better than expected Payrolls outcome reaffirming the Fed’s stance for… Read the rest of this entry »

By Easy-Forex – Dollar pared back some of its losses after a much better than expected Payrolls outcome while the upward revision of the previous… Read the rest of this entry »

By Easy-Forex – Dollar has slipped back against European currencies largely on position squaring with… Read the rest of this entry »

By Easy-Forex – Dollar remained largely unchanged and held onto its gains and for now… Read the rest of this entry »

By Easy-Forex – Dollar has held firm after its rally in the Asian session on… Read the rest of this entry »

By Easy-Forex – Dollar managed to pare back its intra day losses but near term… Read the rest of this entry »

By Easy-Forex – Dollar pared back its intra day gains as Oil prices inched higher… Read the rest of this entry »

By Easy-Forex – Dollar pared back some of its gains but remains supported as well,… Read the rest of this entry »