Dollar slid to record low against majors ahead of Fed
News and Events:
The Dollar slid to a record low against a basket of major currencies on
Monday, extending its broad sell-off on expectations that the Federal
Reserve will trim interest rates this week and possibly again later
this year. The Fed is widely seen cutting rates by 0.25bp to 4.5% on
Wednesday, while expectations are building for a follow-up cut in
December to limit economic damage from the housing market's downturn.
The BOJ is widely expected to keep rates on hold at 0.5% in the coming
months as it waits to see more evidence of the US economy's health and
gauge the potential impact on Japan.
Dominant themes of the market at the moment: the Australian Dollar,
higher Gold prices are a positive along with the expectations for a
Reserve Bank of Australia rate hike next month. The Canadian dollar,
the Oil price surge is seen as a boon for the energy exporter...
Read Today's Key Issues and The Risk Today
Resistance and Support:
EURUSD GBPUSD USDJPY USDCHF
1.4570 S 2.0664 T 119.06 T 1.2000 S
1.4500 K 2.0654 K 117.63 S 1.1923 S
1.4438 M 2.0574 S 115.03 M 1.1790 M
1.4425 2.0570 114.25 1.1620
1.4400 M 2.0500 M 114.00 K 1.1602 M
1.4280 S 2.0200 S 113.39 S 1.1500 P
1.4165 S 2.0000 P 111.60 T 1.1484 S
S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
