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Tuesday, September 1st
GBP/USD fell to 1.5339 in course of yesterday’s trade constantly finding resistance at 1.5431. The pair is now trading flat ahead of UK PMI data, which is due later in the day. Tomorrow, Services PMI is published, so higher volatility is expected for the end of this week with Non-Farm Payrolls data on Friday. The new support level is located at 1.5217 and resistance is at 1.5431.
AUD/USD is falling after the early rise in Asia amid RBA holding the rate unchanged at 2%. AIG Manufacturing Index was higher than last month at 51.7. Building approvals rose 4.2% versus the forecast of 2.5%. However, Australian current account deficit widened more than expected, which indicates that lower oil prices and Chinese turmoil have had their effects on the Australian exports despite weaker AUD. The support and resistance levels are at 0.7021 and 0.7175, respectively. The current quote is 0.7114.
NZD/USD is erasing the losses of Tuesday, when the pair fell to its lowest at 0.6319. The Terms of Trade Index came out in green colour in the second quarter, while Chinese Manufacturing PMI was in line with expectations without any unpleasant surprises for the commodity currencies. The new aim for NZD is now 0.6224 as bearish trend seems to be far from over.
EUR/USD was gaining ground today rising back near 1.13 level currently trading at 1.1292. Yesterday, euro zone CPI was very positive at 0.2%, while Chicago PMI index was lower than expected at 54.4. Ahead in the day, European Manufacturing PMI and unemployment rate is published before ISM Manufacturing PMI numbers are known in the evening.
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