USD Dollar (USD) – The Dollar closed mixed against the other major currencies amid low volume in Forex Trading, as U.S. markets were closed for the Labor Day holiday. The NASDAQ and Dow Jones were closed as a result of the holiday. Crude oil declined by 0.2%, closing at $74.06 a barrel while Gold (XAU) fluctuated around $1250 an ounce. No economic data expected today.

EURO (EUR) – The Euro closed almost unchanged against the dollar in a day where almost no news was released in Europe, or the US, which could influence the pair. The EUR/USD has been trading upwards in the last few days and has reached a new resistance at 1.2950 on the daily chart. If the pair succeeds to cross this rate, the trend will continue to be bullish. Overall, EUR/USD traded with a low of 1.2867 and with a high of 1.2919. Today, German Factory Orders are expected to weaken from 3.2% to 0.6%.

EUR/USD – Last: 1.2801

British Pound (GBP) – The Pound weakened for a fifth straight day against the Euro and declined versus the Dollar on speculation that signs of a slowing economy will prompt policy makers to consider increasing asset purchases when they convene for a central bank meeting this week. The GBP/USD is still trading in a negative range and still trading below the 10 moving average on the daily chart. Therefore, the momentum is bearish and the next support level on the daily chart is located at 1.5320. Overall, GBP/USD traded with a low of 1.5344 and with a high of 1.5489. No economic data is expected today.

GBP/USD – Last: 1.5378

Japanese Yen (JPY) –The Yen rose a bit against the Dollar, falling to a 2 day low, as investors turned their attention to a report from the Bank of Japan monetary policy meeting that is expected to be released. The interest rate was released and remained unchanged at 0.10%. The main momentum of the USD/JPY is still strongly bearish, but in the last few days, the pair has been fluctuating around the 84.0 level. The next support on the daily chart is located at 83.50, and the RSI supports a bearish trend, as well. Overall, USD/JPY traded with a low of 84.04 and with a high of 84.49.Today, the BOJ Press Conference will be happening.

USD/JPY-Last: 84.20

Canadian dollar (CAD) – The Canadian Dollar rallied against the US Dollar, advancing to a 3 week high amid low trade volume, as markets in the U.S. and Canada were closed for the Labor Day holiday. As long as the USD/CAD is below the 1.0450 levels, a short position is preferred and the momentum is bearish. The next support on the daily chart is located at 1.0270, and if the price crosses this level, the trend will continue to be bearish. Overall, USD/CAD traded with a low of 1.0340 and with a high of 1.0403. No economic data expected today.

USD/CAD – Last: 1.0357

USD Dollar (USD) – The Dollar fell against most major currencies in Forex Trading, as U.S. private employers added more jobs than forecast in August. This helped to ease concerns of a slowing recovery in the world’s biggest economy and boosted investors’ risk appetite. Payrolls came out at -54k vs. -101k forecast. The NASDAQ and Dow Jones advanced by 1.53% and 1.24%, respectively. Crude oil weakened by 0.6%, closing at $74.60 a barrel, while Gold (XAU) declined by 0.2%, closing at $1251 an ounce. There is no news today, owing to bank holiday in the US.

EURO (EUR) – The Euro touched a two-week high versus the Dollar as overall U.S. employment declined by about half of the amount forecast, supporting higher yielding assets. As long as the rate is above the 1.2800 level, a long position is preferred and the momentum is bullish. The next resistance on the one hour chart is located at 1.2900 and the RSI indictor supports an uptrend, as well. Overall, EUR/USD traded with a low of 1.2808 and with a high of 1.2897. No major economic data is expected today.

EUR/USD – Last: 1.2888

British Pound (GBP) – The Pound fell for a fourth week against the Dollar, the longest run of losses since June. Reports showing that U.K. services grew at a slower pace and house prices have dropped fueled concern that the recovery will falter (PMI came at 51.3 vs. 53.0 forecast). The GBP/USD is still trading in a negative range and still trading below the 10 moving average on the daily chart. Therefore, the momentum is bearish and the next resistance level on the one hour chart is located at 1.5500. Overall, GBP/USD traded with a low of 1.5389 and with a high of 1.5468. No economic data is expected today.

GBP/USD – Last: 1.5467

Japanese Yen (JPY) –The Yen fell against major currencies as stock markets all over the world climbed after positive data from U.S. was released, leading the investors to sell safety assets. The main momentum of the USD/JPY is still strongly bearish, but in the last few days, the pair is fluctuating around the 84.0 level. The next support on the daily chart is located at 83.50, and if the price crosses this level, the trend will continue to be bearish. Overall, USD/JPY traded with a low of 84.16 and with a high of 85.22. No economic data is expected today.

USD/JPY-Last: 84.37

Canadian dollar (CAD) – The Canadian Dollar strengthened for the first week in a month versus the Dollar after a report showed U.S. employers added more private jobs than economists forecast, boosting stocks and brightening the outlook for trade between the two nations. As long the USD/CAD is below 1.0500 levels, a short position is preferred. The next support on the daily chart is located at 1.0350, and if the price crosses this level, the trend will continue to be bearish. Overall, USD/CAD traded with a low of 1.0365 and with a high of 1.0569. There is no news today, owing to a bank holiday in Canada.

USD/CAD – Last: 1.0396

USD Dollar (USD) – The Dollar fluctuated against most major currencies after pending U.S. home resales unexpectedly rose, signaling the housing market may start to stabilize and boost investor appetite for higher yielding assets. The NASDAQ and Dow Jones advanced by 1.06% and 0.49% respectively, while crude oil rose by 1.5% to close at $75.02 a barrel. Gold (XAU) strengthened by 0.4%, closing at $1253.40 an ounce. Today, the Non-Farm Employment Change is expected to decline from -131K to -118K, the Unemployment Rate is expected at 9.6% vs. 9.5% prior, ISM Non-Manufacturing PMI is expected to weaken from 54.30 to 53.20.

EURO (EUR) – The Euro was near its strongest level in two weeks versus the Dollar after European Central Bank President, Jean-Claude Trichet, said a double-dip recession is “not in the cards.” Speaking after the ECB left its benchmark rate at 1 percent. As long the rate is above 1.2800 level a long position is preferred and the momentum is bullish. The next resistance on the one hour chart is located at 1.2860, and if the rate crosses this level, the euro will continue with its bullish trend. Overall, EUR/USD traded with a low of 1.2776 and with a high of 1.2848.Today, Retail Sales are expected to rise from 0.0% to 0.3%.

EUR/USD – Last: 1.2821

British Pound (GBP) – The Pound weakened for a third day against the Euro and declined against the Dollar as a report showed U.K. house prices slid the most in six months in August (-0.90% vs. -0.30% forecast), stoking speculation that the economic recovery may falter. The GBP/USD is still trading in negative range and still trading below the 10 moving average on the daily chart. Therefore the momentum is bearish, with the next support level on the one hour chart located at 1.5350. Overall, GBP/USD traded with a low of 1.5350 and with a high of 1.5451. Today, Services PMI is expected to be like the previous one at 53.1.

GBP/USD – Last: 1.5408

Japanese Yen (JPY) –The Yen rose versus the major currencies in Forex Trading, on speculation the Japanese companies are bringing home overseas earnings before the first half of the fiscal year ends this month. The momentum of the USD/JPY is still strongly bearish and the next support on the daily chart is located at 83.50, thus a short position is preferred. Overall, USD/JPY traded with a low of 83.99 and with a high of 84.55. No economic data is expected today.

USD/JPY-Last: 84.31

Canadian dollar (CAD) – The Canadian Dollar depreciated versus the US Dollar after the biggest one-day rally in three months came on concern that U.S. job losses will stall the global economic recovery. As long as the USD/CAD is below 1.0550 levels, a short position is preferred. The next support on the daily chart is located at 1.0450, and if the price crosses this level, the trend will continue to be bearish. Overall, USD/CAD traded with a low of 1.0471 and with a high of 1.0555. No economic data is expected today.

USD/CAD – Last: 1.0544

USD Dollar (USD) – The Dollar weakened against most major currencies in Forex Trading, after encouraging global data helped ease concerns over the global economic growth. In addition to this, the ADP report in US showed that employers in the U.S. cut only 10,000 jobs instead of the 20,000 that was forecast in August, and this in turn, boosted the stocks and commodities markets. NASDAQ and Dow Jones jumped by 2.97% and 2.54% respectively. Crude oil rose by 2.4%, closing at $73.91 a barrel. Gold (XAU) weakened by 0.2%, closing at $1248 an ounce. Today, Unemployment Claims are expected to rise a bit from 743K to 745K, Fed Chairman Bernanke will testify, and Pending Home Sales are expected at -1.3% vs. -2.6% prior.

EURO (EUR) – The Euro rallied against the Dollar, owing to good data from the US which supported buying higher assets around the world. Also, the Chinese Premier Wen Jiabao said that China and western countries should work together to enhance the world’s confidence in the euro and the European Union’s economy. This had positive effects on the Euro, as well. As long the rate is above 1.2800 levels, a long position is preferred and the momentum is bullish. Overall, EUR/USD traded with a low of 1.2662 and with a high of 1.2855. Today, there is an ECB Press Conference, where the Interest Rate Decision is expected to remain unchanged at 1.0%,

EUR/USD – Last: 1.2789

British Pound (GBP) – The Pound rose against the Dollar after a report by ADP Employer Services showed U.S. companies cut only 10,000 jobs last month, leading investors to be optimistic and to buy the British currency. The GBP/USD has been trading downwards since the beginning of August, and is still trading below the 10 moving average on the daily chart. Therefore, the momentum is still bearish and the next support level on the one hour chart is located at 1.5400. Overall, GBP/USD traded with a low of 1.5336 and with a high of 1.5491. Today, Nationwide HPI is expected at -0.3% vs. -0.5% prior.

GBP/USD – Last: 1.5435

Japanese Yen (JPY) –The Yen fell against most of its major currencies as reports showed manufacturing in the U.S. and China accelerated, spurring demand for higher yielding assets like stocks and commodities. The momentum of the USD/JPY is bearish and the next support on the daily chart is located at 83.50. Therefore, a short position is preferred. Overall, USD/JPY traded with a low of 83.66 and with a high of 84.66. No economic data is expected today.

USD/JPY-Last: 84.17

Canadian dollar (CAD) – The Canadian Dollar strengthened for the first time this week versus the US Dollar as global equities and commodities such as crude oil strengthened, making currencies tied to growth more attractive. As long the USD/CAD is below 1.0550 levels a short position is preferred. The next support on the daily chart is located at 1.0480, and if the price crosses this level, the trend will continue to be bearish. Overall, USD/CAD traded with a low of 1.0484 and with a high of 1.0652. No economic data is expected today.

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USD/CAD – Last: 1.0543

USD Dollar (USD) – The Dollar rose versus most major counterparts in Forex Trading, partly in response to FOMC Meeting Minutes. There, members shared differences of opinion about reinvesting FED’S gains back into treasuries, as they assumed it will send a negative message to investors. The Chicago PMI came out 56.7, worse than the expected 57.5. The CB Consumer Confidence came out at 53.5, better than the expected 50. The Stock Markets closed mixed as the Dow Jones advanced by 0.05% and the NASDAQ declined by -0.28%. Crude Oil tumbled by more than -3% closing at $71.80 a barrel. Gold (XAU) finally breached and approached nearly $1250 an ounce. Today, the ADP Nonfarm Employment Change is expected at 13k vs. 42k previously. The ISM Manufacturing Index is expected at 53 vs. 55.5 previously.

EURO (EUR) – The Euro had a weak trading day slightly rising against the Dollar and fluctuating mostly near the support area. The German Unemployment Change came out at -17K, worse than the expected -19k. The Preliminary CPI came out unchanged at 1.6%, as expected. The Unemployment Rate came out 10%, as expected. Breaking the 1.2670 support level might push the pair lower. Overall, EUR/USD traded with a low of 1.2625 and with a high of 1.2742. Today, the Manufacturing PMI is expected unchanged at 55.

EUR/USD – Last: 1.2700

British Pound (GBP) – The Pound has lost ground versus the Dollar, falling as a result of general risk aversion, it broke the 1.54 zone ending the month at fresh lows. The Net Lending to individuals came out 0.3B, worse than the expected 0.7B. For farther decline in the pair, the 1.5330 support level has to break otherwise a rebound back to 1.54 area is possible. Overall, GBP/USD traded with a low of 1.5325 and with a high of 1.5472. Today, the Manufacturing PMI is expected at 57.1 vs. 57.3 previously.

GBP/USD – Last: 1.5378

Japanese Yen (JPY) – The Yen gained against the Dollar after the FOMC Meeting Minutes pushed Stock Markets to erase previous gains. The Yen also gained versus the other major currencies as investors search for safe haven. For further decline in the pair, the 83.80 support level has to break, otherwise a rebound back to the 85 area is possible. Overall, USD/JPY traded with a low of 83.80 and with a high of 84.65. No economic data is expected today.

USD/JPY-Last: 84.48

Canadian dollar (CAD) – The U.S dollar gained against the Canadian dollar as the Canadian GDP came out unchanged at 0.2%. Canada’s Dollar fell to an 8 week low on reduced speculation that the Bank of Canada will increase the interest rates. Breaching the 1.0660 resistance level might bring the pair to fresh highs. Overall, USD/CAD traded with a low of 1.0573 and with a high of 1.0671. No economic data is expected today.

USD/CAD – Last: 1.0632

USD Dollar (USD) – The Dollar rose versus most major counterparts as U.S. stocks dropped, fueling demand for safer assets. The Core PCE Price Index came out unchanged at 0.1% as expected, while the Personal Spending report came out 0.4% better than the expected 0.3%. NASDAQ and Dow Jones declined by -1.56% and -1.39% respectively. Crude Oil dropped by -0.6%, closing near $74 a barrel. Gold (XAU) traded almost unchanged and closed at $1236.50 an ounce. Today, the Chicago PMI is expected at 57.5 vs. 62.3 previously. The CB Consumer Confidence is expected at 50 vs. 50.4 previously and later THE FOMC Meeting Minutes is expected.

EURO (EUR) – The Euro has lost a ground in Forex Trading, after rising on the last 3 trading days versus the Dollar and fell back to trade below the 1.27 area. Breaking the 1.2670 support level might push the pair lower. Overall, EUR/USD traded with a low of 1.2633 and with a high of 1.2771. Today, the German Unemployment Change is expected at -19k vs. -20k previously. The Preliminary CPI is expected at 1.6% vs. 1.7% previously. The Unemployment Rate is expected unchanged at 10%.

EUR/USD – Last: 1.2650

British Pound (GBP) – The Pound declined versus the Dollar as the UK banks were closed and as a main trend, investors favored risk aversion by buying the US Dollar. Breaking the 1.5480 support level might push the pair lower. Overall, GBP/USD traded with a low of 1.5452 and with a high of 1.5574. Today, the Net lending to individuals is expected at 0.7B vs. 0.6B previously.

GBP/USD – Last: 1.5455

Japanese Yen (JPY) – The Yen rose across the board on speculation that the Bank of Japan’s stimulus plan is not enough to weaken the Japanese currency. The Prelim Industrial Production came out 0.3% better than the expected -0.3%. Retail Sales came out 0.3% worse than an expected 3.1%. Breaking the 84.50 support level might push the pair lower. Overall, USD/JPY traded with a low of 84.47 and with a high of 85.89. No economic data expected is today.

USD/JPY-Last: 84.29

Canadian dollar (CAD) – The U.S Dollar gained versus the Canadian dollar on weaker than forecast economic data, which added to evidence that the nation’s recovery has slowed. The Current Account came out -11B, worse than an expected -10.2B. Breaching the 1.0660 resistance level might bring the pair to fresh highs. Overall, USD/CAD traded with a low of 1.0470 and with a high of 1.0609. Today, the GDP is expected at 0.2% vs. 0.1% previously.

USD/CAD – Last: 1.0599

USD Dollar (USD) – The Dollar weakened against most of the majors in Forex Trading, as an improvement in the market pushed investors towards riskier assets. The Prelim GDP came out 1.6% better than the expected 1.4%. The Michigan Consumer Sentiment Index came out 68.9 worse than an expected 69.4. The NASDAQ and Dow Jones jumped sharply by 1.65% and 1.65% respectively after a negative opening. Crude Oil closed positive for a third day after it soared by 2.8% and closed at $75.53 a barrel. Gold (XAU) traded almost unchanged and closed at $1237 an ounce. Today, the Core PCE Price Index is expected at 0.1% vs. 0% previously. The Personal Spending is expected at 0.3% vs. 0% previously.

EURO (EUR) – The Euro advanced against the dollar after the Fed said that will be ready to take further recovery steps but only if the economy slows significantly which would bring investors to favor higher yielding assets. The German Prelim CPI came out 0% worse than an expected 0.2%. Holding above the support level of 1.2670 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2675 and with a high of 1.2779. No economic data is expected today.

EUR/USD – Last: 1.2738

British Pound (GBP) – The Pound gained against the dollar as the GDP came out 1.2% better than the expected 1.1%. The Prelim Business Investment came out -1.6% worse than an expected 2.3%. Holding above the support level of 1.5485 keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5440 and with a high of 1.5541. Today, UK banks will be closed in observance of the Summer Bank Holiday;

GBP/USD – Last: 1.5528

Japanese Yen (JPY) – The Yen, which weakened across the board, was affected by the change in market sentiment favoring riskier assets and also overbought conditions for the Japanese currency. Holding above the support level of 85.40 keeps the momentum positive for the pair. Overall, USD/JPY traded with a low of 84.26 and with a high of 85.75. Today, the Prelim Industrial Production is expected at -0.3% vs. -1.1% previously. The Retail Sales are expected at 3.1% vs. 3.3% previously.

USD/JPY-Last: 85.41

Canadian dollar (CAD) – Canada’s dollar gained for a third day versus the U.S dollar as the stock markets and Crude Oil gained, boosting demand for the commodity linked currency. Holding below the 1.0535 resistance level, might extend the decline in the pair. Overall, USD/CAD traded with a low of 1.0478 and with a high of 1.0646. Today, the Current Account is expected at -10.2B vs. -7.8B previously.

USD/CAD – Last: 1.0496

USD Dollar (USD) – The Dollar weakened against the majors for the second day in a row as an improvement in the market pushed the investors towards riskier assets. The Initial Jobless Claims came out 473K better than the expected 485K. NASDAQ and Dow Jones fell by -1.07% and -0.74%, respectively, after a positive opening. Crude Oil closed positive for a second day at $73.07 a barrel. Gold (XAU) fell from its high level and closed at $1237 an ounce. Today, the Prelim GDP is expected at 1.4% vs. 2.4% previously. The Michigan Consumer Sentiment Index is expected at 69.4 vs. 69.6 previously.

EURO (EUR) – The Euro advanced against the dollar in Forex Trading and managed to close above the 1.27 area. The Gfk German Consumer Climate came out 4.1 unchanged as expected. Holding above the support level of 1.2670 keeps the momentum positive for the pair. Overall, EUR/USD traded with a low of 1.2647 and with a high of 1.2764. Today, the German Prelim CPI is expected at 0.2% vs. 0.3% previously.

EUR/USD – Last: 1.2713

British Pound (GBP) – The Pound gained against the dollar as the CBI DTS data came out 35 much better than the expected 25. Holding above the support level of 1.5485 will keep the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5452 and with a high of 1.5595. Today, the GDP is expected unchanged at 1.1%. The Prelim Business Investment is expected at 2.3% vs. 7.8% previously.

GBP/USD – Last: 1.5520

Japanese Yen (JPY) – The Yen traded almost unchanged versus the dollar in a narrow range with small gains. A demand for the safety currency of Japan is still required for investors, as there is still concern on slowing U.S economic growth. The Tokyo Core CPI came out -1.1% better than the expected -1.2%. Range trading between the 84 – 85 levels is possible till further economic developments. Overall, USD/JPY traded with a low of 84.26 and with a high of 84.87. No economic data is expected today.

USD/JPY-Last: 84.46

Canadian dollar (CAD) – Canada’s dollar gained for a second day versus the U.S dollar as it fell against the majors. Canada’s currency was also supported by a rise in commodities as crude oil rose. Holding below the 1.0660 resistance level, might push the pair downwards. Overall, USD/CAD traded with a low of 1.0519 and with a high of 1.0604. No economic data expected today.

USD/CAD – Last: 1.0577

USD Dollar (USD) – The Dollar traded mixed after the Core Durable Goods Orders came out at 3.8%, much weaker than the expected 0.5%. In addition, New Home Sales plunged to the lowest level since 1963. The report came out at 276K, worse than an expected 330K, tacking on more bad news to an already weakening economic recovery. NASDAQ and Dow Jones rose by 0.84% and 0.2% respectively after a negative opening. Crude Oil closed positive after earlier breaking the $71 level and soon recovered to close at $72.87 a barrel. Gold (XAU) hit another rally on the upside, closing at $1240 an ounce. Today, the Initial Jobless Claims is expected at 485K vs. 500K previously.

EURO (EUR) – The Euro gained versus the dollar in Forex Trading for the first day after 5 consecutive days of losses. The German IFO Business Climate came out 106.7, better than the expected 105.8. An upside reversal pattern might be seen if the pair will hold above the 1.2670 levels. Overall, EUR/USD traded with a low of 1.2607 and with a high of 1.2725. Today, the Gfk German Consumer Climate is expected at 4.1 vs. 3.9 previously.

EUR/USD – Last: 1.2696

British Pound (GBP) – The Pound gained against the dollar after testing and holding above the 1.54 support zone. Breaching the 1.5485 resistance level might fuel a positive momentum for the pair. Overall, GBP/USD traded with a low of 1.5388 and with a high of 1.5487. Today, the CBI DTS data, which measures the health of the retail sector, is expected at 25 vs. 33 previously.

GBP/USD – Last: 1.5490

Japanese Yen (JPY) – The Dollar rose from the bottom versus the Yen on speculations that Japan’s policy makers will take measures to halt the currency’s rapid advance. Breaching the 85 level will put the pair back on the known channel it was on before the plunge. Overall, USD/JPY traded with a low of 83.89 and with a high of 84.87. Today, the Tokyo Core CPI is expected at -1.2% vs. -1.3% previously.

USD/JPY-Last: 84.72

Canadian dollar (CAD) – The US Dollar fell against the Canadian dollar after 4 consecutive days of rising. This occurred as stocks rose from the day’s lows and Crude Oil, Canada’s biggest export commodity, also jumped. Holding below the 1.0660 resistance level, might push the pair downwards. Overall, USD/CAD traded with a low of 1.0572 and with a high of 1.0666. No economic data is expected today.

USD/CAD – Last: 1.0582