Economic data and a lackluster
session in the stock market sent the Dollar index to lower ground. Even
though the index has broken out of its wedge formation, it is still
holding its current levels around 80 points. Consequentially, the
individual pairs are still failing to present any major movement.
The
AUD/USD and GBP/USD continue to remain around recent resistance levels,
while the EUR/USD, is slowly drifting higher. One must note that the
markets are now preparing for an interest rate decision from the ECB
therefore the intraday sessions could present high volatility.
Economic
data also had a mild impact on the session as mortgage approvals in the
U.K showed a better than expected result. Across the globe, Australia
showed that their private sector credit had dropped presenting a
negative 0.1%, while their HIA New Home Sales figure dropped by an
astonishing -5.7%.
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