U.S. Dollar Pulls Back As Traders Focus On Shutdown Risks
U.S. Dollar Index is losing ground as traders focus on government shutdown risks. Today, traders also had a chance to take a look at the Pending Home Sales report for August. The report indicated that Pending Home Sales increased by +4.0% month-over-month, compared to analyst forecast of +0.3%.
In case U.S. Dollar Index pulls back below the 50 MA at 97.92, it will head towards the nearest support level, which is located in the 97.10 – 97.30 range.
EUR/USD Gains Ground As Euro Area Economic Sentiment Beats Estimates
EUR/USD moved higher as traders focused on the Euro Area Economic Sentiment report. The report showed that Economic Sentiment improved from 95.3 in August to 95.5 in September, compared to analyst consensus of 95.2.
If EUR/USD settles above the 50 MA at 1.1758, it will head towards the resistance level at 1.1785 – 1.1800.
GBP/USD Tests The 1.3450 Level
GBP/USD moved higher as traders reacted to U.S. economic reports and focused on general weakness of the American currency.
The nearest resistance level for GBP/USD is located in the 1.3485 – 1.3500 range. In case GBP/USD manages to settle above the 1.3500 level, it will move towards the next resistance at 1.3485 – 1.3500.
EUR/USD Price Forecast
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See all EUR/USD forecastsUSD/CAD Is Losing Ground As Gold Tests Historic Highs
USD/CAD pulls back as gold tests historic highs. Other commodity-related currences are also moving higher in today’s trading session.
A move below the 1.3910 level will push USD/CAD towards the nearest support level at 1.3845 – 1.3860.
USD/JPY Tests The 148.50 Level Amid Falling Treasury Yields
USD/JPY is losing ground as traders focus on falling Treasury yields. The yield of 2-year Treasuries pulled back towards the 3.62% level, while the yield of 10-year Treasuries settled below 4.15%.
A successful test of the support at 147.50 – 148.00 will push USD/JPY towards the 146.00 level.
For a look at all of today’s economic events, check out our economic calendar.