A U.S government report today showed a drop in existing and new home sales, while an earlier report shoed the U.S economy contracted in the third quarter of the year ( GDP -0.5).
at first, the grim news out of U.S have pushed the dollar down on early trading, however the picture changed around New-York session time, and now the dollar is regaining its strength against most majors.
The EURUSD is trading around 1.4 since the beginning of the week, and with the lack of volume in the market it is hard to see this pair moving much further at this stage.
USDJPY has continued its advance to the upside, and is now clearly trading above the 90 level.
GBPUSD is testing its lowest level for the week at 1.4687, the pair has already corrected 1000 pips, since its top on Dec 17.
AUDUSD – was trading in a tight range most of the day, but was affected from the general dollar move on late trading, and has now clearly breached under 0.6800. The next support level is expected at 0.6767.
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