Ramsey
17-01-2003, Fri 8:02 PM
EUR/USD
Yesterday's Close:1.0619 High:1.0627 Low:1.0548
The euro made short work of $1.0599, this year's high and an area of very stiff resistance, to reach $1.0627,its highest level against the dollar since Oct. 27, 1999. By late afternoon, the euro was trading at $1.0616, up 0.66 percent on the day.
Resistance Levels:1.0620/30 ,1.0650/60,1.0710/20
Support Levels:1.0580 1.0550, 1.0520/30
USD/JPY
Yesterday's Close:117.78 High:118.34 Low:117.68
The dollar fell as far as 117.68 yen, short of its recent lows at 117.52 yen .By late afternoon in New York, it was trading at 117.78 yen, down 0.28 percent on the day.
Concerns about possible Bank of Japan yen-selling intervention limited losses .There seems to be some dollar-buying interest around 117.50/60 yen, where people are saying the Bank of Japan is looking intently, dealers said.
Resistance Levels:118.30/40 ,118.80/90 , 119.50/60
Support Levels:117.50/60, 117.30, 116.50
USD/CHF
Yesterday's Close:1.3743 High:1.3862 Low:1.3725
The dollar also fell through technical levels against the Swiss franc to a new four-year low at 1.3720 francs.By N.Y. close,the dollar was off 0.78 percent to 1.3743 Swiss francs.
Resistance Levels:1.3850/60,1.3920/30 1.4020/30
Support Levels:1.3720/30 1.3650/60 , 1.3550
GBP/USD
Yesterday's Close:1.6111 High:1.6150 Low:1.6022
Sterling/dollar traded down from sessions highs of $1.6150 to close around $1.6109 still up 0.39 percent.Against the euro sterling closed the day around 65.91 down from previous 65.77 close.
Wednesday's December jobs data failed to sway analyst opinions either way, showing unemployment holding steady at 3.1 percent but with continued falls in manufacturing jobs. November production data earlier this week, which showed manufacturing output unexpectedly up, also failed to dispel fears of a consumer confidence downturn.
A survey of 23 economists, taken January 9 to 14, on Thursday showed that Britain's indebted consumers may lose some of their appetite for spending in the coming year. But analysts still thought the economy would grow at a healthy pace as business demand picks up from abroad.
The survey forecast average British growth of 1.7 percent in 2002, 2.5 percent in 2003 and 2.8 in 2004, according to the mid-range forecast.
Consumer spending has been the mainstay of the British economy in the last year or so, as shoppers have taken advantage of the lowest borrowing costs in decades. But spending has started to falter as shoppers face increasing job insecurity, a cooling housing market and the threat of war in Iraq.
Resistance Levels: 1.6150/60,1.6180/90, 1.6220/30
Support Levels:1.6020, 1.5960, 1.5910/20
Yesterday's Close:1.0619 High:1.0627 Low:1.0548
The euro made short work of $1.0599, this year's high and an area of very stiff resistance, to reach $1.0627,its highest level against the dollar since Oct. 27, 1999. By late afternoon, the euro was trading at $1.0616, up 0.66 percent on the day.
Resistance Levels:1.0620/30 ,1.0650/60,1.0710/20
Support Levels:1.0580 1.0550, 1.0520/30
USD/JPY
Yesterday's Close:117.78 High:118.34 Low:117.68
The dollar fell as far as 117.68 yen, short of its recent lows at 117.52 yen .By late afternoon in New York, it was trading at 117.78 yen, down 0.28 percent on the day.
Concerns about possible Bank of Japan yen-selling intervention limited losses .There seems to be some dollar-buying interest around 117.50/60 yen, where people are saying the Bank of Japan is looking intently, dealers said.
Resistance Levels:118.30/40 ,118.80/90 , 119.50/60
Support Levels:117.50/60, 117.30, 116.50
USD/CHF
Yesterday's Close:1.3743 High:1.3862 Low:1.3725
The dollar also fell through technical levels against the Swiss franc to a new four-year low at 1.3720 francs.By N.Y. close,the dollar was off 0.78 percent to 1.3743 Swiss francs.
Resistance Levels:1.3850/60,1.3920/30 1.4020/30
Support Levels:1.3720/30 1.3650/60 , 1.3550
GBP/USD
Yesterday's Close:1.6111 High:1.6150 Low:1.6022
Sterling/dollar traded down from sessions highs of $1.6150 to close around $1.6109 still up 0.39 percent.Against the euro sterling closed the day around 65.91 down from previous 65.77 close.
Wednesday's December jobs data failed to sway analyst opinions either way, showing unemployment holding steady at 3.1 percent but with continued falls in manufacturing jobs. November production data earlier this week, which showed manufacturing output unexpectedly up, also failed to dispel fears of a consumer confidence downturn.
A survey of 23 economists, taken January 9 to 14, on Thursday showed that Britain's indebted consumers may lose some of their appetite for spending in the coming year. But analysts still thought the economy would grow at a healthy pace as business demand picks up from abroad.
The survey forecast average British growth of 1.7 percent in 2002, 2.5 percent in 2003 and 2.8 in 2004, according to the mid-range forecast.
Consumer spending has been the mainstay of the British economy in the last year or so, as shoppers have taken advantage of the lowest borrowing costs in decades. But spending has started to falter as shoppers face increasing job insecurity, a cooling housing market and the threat of war in Iraq.
Resistance Levels: 1.6150/60,1.6180/90, 1.6220/30
Support Levels:1.6020, 1.5960, 1.5910/20