latest forex news
Latest Forex News
8th October, 2013
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| latest forex news |
The pound slipped lower against the dollar on Tuesday, amid cautious
optimism that a political deadlock in the U.S. could be resolved in time
to avert a debt default.
GBP/USD hit 1.6044 during European morning trade, the session low; the pair subsequently consolidated at 1.6046, sliding 0.30%.
Cable was likely to find support at 1.6004, the low of October 10 and resistance at 1.6098, the session high.
Dollar higher vs. yen after China data
The dollar was higher against the yen on Tuesday, as encouraging service
sector data from China helped offset concerns over the risk of a
possible U.S. default as the U.S. government shutdown continued into a
second week.
USD/JPY hit 97.19 during late Asian trade, the session high; the pair subsequently consolidated at 97.08, gaining 0.40%.
The
pair was likely to find support at 96.56, the session low and a
two-month low and resistance at 97.47, the high of October 4.
Data
released on Tuesday showed that China’s HSBC services purchasing
managers’ index dipped to 52.4 from August's reading of 52.8, but
remained well above the 50 level that separates expansion from
contraction.
The New Zealand dollar slipped lower against its U.S. counterpart on
Tuesday, despite upbeat New Zealand business confidence data as
sustained concerns over the consequences of the current U.S. government
shutdown weighed.
NZD/USD
hit 0.8270 during late Asian trade, the pair's lowest since October 2;
the pair subsequently consolidated at 0.8292, falling 0.14%.
The pair was likely to find support at 0.8194, the low of October 2 and resistance at 0.8351, the high of October 4.
AUD/USD edges higher amid ongoing U.S. fiscal woes
The Australian dollar edged higher against its U.S. counterpart on
Tuesday, although gains were limited as concerns over the U.S. budget
impasse and a potential default continued to dominate market sentiment.
AUD/USD hit 0.9448 during late Asian trade, the session high; the pair subsequently consolidated at 0.9445, adding 0.17%.
The pair was likely to find support at 0.9367, the low of October 3 and resistance at 0.9524, the high of September 19.
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