USD Uncertain To Yen And Loonie, Higher To Rest Of Majors Early Monday Ahead Of Data
Monday, February 05, 2007 8:45:28 AM - Greenback showed varied trading early Monday in New York. The US currency showed visible strength against the sterling and euro testing near-term resistances lately. Dollar gained the upper hand against the Swiss counterpart too after reversing the losses it posted during the small morning. In the meantime, against the loonie and yen, buck was largely uncertain during the session as the market waited for the US ISM non-manufacturing data which was expected by later in the morning. Whereas, in the case of European majors, services PMI numbers from the UK, Germany and the Euro-zone are likely have played their roles in deciding the recent price actions.
From the last Friday’s close, EUR/USD made a few advances during the small morning deals of New York Monday. Pair touched a session’s high of 1.2966 at 3:00 am growing from 1.2930 and after that dropped off. Pair is now trading sideways near the low it held before the last Wednesday’s rally thus testing a short-term support. As of 8:40 am ET, pair traded at 1.2928. Recent deals came amid Italian CPI and European services PMI for the month of January.
Small morning advantages GBP/USD posted on Monday helped the pair collect its high of the session at 1.9667 at 3:30 am ET. Greenback then rallied as the British data weakened GBP. At 5:55 am ET, pair fetched as low as 1.9561 and after that, entered a sideways trend. As of 8:40 am sterling collected 1.9557 USD. This is almost near the low pair held ahead of the last Wednesday’s rally.
During the very early Monday deals, greenback edged higher to the yen and the pair collected 120.90 at 1:50 am ET. After that, buck found its way downward until changing it from 120.52 after an hour. After a three hours’ uptrend that helped the pair reach near recent high USD weakened again. As of 8:40 am ET, USD/JPY was worth 120.63. Largely, the pair is uncertain ahead of the number.
Greenback weakened to the Swiss Franc early Monday in New York and the pair hit its session’s low at 1.2469 by about 3:00 am ET. After that, dollar rallied and pair entered a range, of late. The range is loosely bound between 1.2502 and 1.2517.
During the small Monday in New York, USD/CAD moved sideways but the pair fell down to 1.1823 within about a couple hours since 2:00 am ET. After that, greenback trended higher and started to give back these gains after another couple of hours. Of late, USD ticked up by a few pips and pair fetched 1.1857 at 8:40 am ET. Largely, greenback showed uncertain trading against its Canadian counterpart early Monday ahead of economic data releases.