US Dollar Mostly Stronger as Chicago PMI Hits Four-Year High
British Pound Dominates in Choppy, Low Volume Trading Euro Down as ECB Says Loan Growth Slowed Further, Money Supply Contracted Canadian Dollar Decline Keeps USDCAD Range Bound US Dollar Mostly Stronger as Chicago PMI Hits Four-Year High The US dollar staged a solid rally at the start of the US trading session, and while the currency ultimately ended the day up against many of the majors, the greenback fell throughout the afternoon and experienced hefty losses against the British
Forex Market Outlook on Majors
INTRA-DAY GBP/USD: 1.6067 Last Update At 31 Dec 2009 04:50 GMT Although cable’s o/n ‘cross-inspired’ strg rally to 1.6095 (NY) confirms recent decline has finally made a low y’day at 1.5832 n marginal gain is like- ly, o/bot condition shud prevent strg rise in Asia n reckon 1.6120/30 wud cap upside n yield retreat. For st trade, sell on next upmove for 1.6070 n if price drops to 1.6025 1st, buy for 1.6075. Range Forecast 1.6045 / 1.6080 Resistance/Support R: 1.6095/1.6122/1.6167 S: