Daily maximum: 1.2942
Daily minimum: 1.2858
EUR/USD continued moving downwards after the month-to-month US pending homes sales rose 7.3% instead of forecasted 1.7%; therefore the market participants’ forecast mean (1.2967) remained untapped. Daily Resistance: 1.3043; 1.3145; 1.3211. Daily Support: 1.2875; 1.2809; 1.2707. Daily Bias: Neutral.
EUR/JPY
Daily maximum: 100.77
Daily minimum: 100.05
The Euro pierced the market participants’ forecast at 101.05 against the Yen on news banks deposited the record sum to the ECB. Daily Resistance: 101.54; 102.20; 102.62. Daily Support: 100.46; 100.04; 99.38. Daily Bias: Neutral.
GBP/USD
Daily maximum: 1.5575
Daily minimum: 1.5362
The pair slumped today and breached the daily forecast mean at 1.5508 after the Chicago PMI rose more than expected (62.5 vs. 60.4 estimate). Daily Resistance: 1.5617; 1.5779; 1.5867. Daily Support: 1.5367; 1.5279; 1.5117. Daily Bias: Bullish.
USD/JPY
Daily maximum: 77.94
Daily minimum: 77.68
The pair continues trading in the 77-78 price range against the Yen as investors were spooked by more-than-expected US unemployment claims, thus the daily market participants’ target at 77.87 has been pierced. Daily Resistance: 78.13; 78.31; 78.60. Daily Support: 77.66; 77.37; 77.19. Daily Bias: Bullish.
USD/CHF
Daily maximum: 0.9470
Daily minimum: 0.9417
The Swiss Franc traded lower today versus the American dollar and breached the 0.9403 price level as the m/m US Pending home sales rose in November more than expected. Daily Resistance: 0.9469; 0.9516; 0.9590. Daily Support: 0.9348; 0.9274; 0.9227. Daily Bias: Neutral.
EUR
Germany's inflation rate decreased in December as European region's sovereign debt turmoil is hurting economic expansion. The inflation rate fell from 2.8% in November to 2.4% in current month. The reading matches economists' expectations. Euro area countries are facing severe spending cuts to reduce debt which hampers growth and as a result, the inflation, said Marina Luetje, Dekabank's economist.
USD
In US the number of people applied for unemployment benefits jumped more than expected last week. The number of residents, filing the application for jobless benefits reached 381,000, adding 15,000 on a seasonally adjusted basis. Experts predicted the figure to approach 370,000. Despite increase in claims, the figure is still below 400,000, indicating improving situation in the labour market.
GBP
The euro weakened against all 16 of its major peers except for the British pound and Danish krone. The pound decreased against all 16 peers, while the dollar strengthened against 13 of 16 after the ECB balance sheet expanded to record amid the debt crisis woes.
CHF
Swiss stocks (SMI) declined as concern that the euro-area debt crisis will deepen outweighed an easing of borrowing costs for Italy at a bond auction. The Swiss Market Index, a measure of the biggest and most actively traded companies, fell 0.3 percent to 5,875.16 as of 11:58 a.m. in Zurich. The gauge is headed for an 8.7 percent decline in 2011, its worst annual performance since 2008. The broader Swiss Performance Index lost 0.2 percent today.
JPY
On Thursday Japan's Nikkei Stock Average fell 0.29% or 24.73 points and closed at 8,398.89 as export dependent companies tumbled on European anxiety. Japan's technology exporters were the main losers in Tokyo, affected by the drop in the European common currency against the Japanese Yen. Sharp Corp. declined 3.2%, Casio Computer Co. traded down 2.7% while Advantest Corp. decreased 1.1%. Equities of Elpida Memory Inc. lost 5.1% on news that its loan repayment to government may delay
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