Thursday, November 30, 2006

Dollar thrashed after Chicago PMi data, Swiss Riding Higher

Dollar hammered after the way below the expectations on Chicago PMI
Index which came below 50 at 49.9, the expected figure is 54.5. And
now i'll keenly waiting for ISM Manufacturing Index.

Now we're seeing further weakness in Dollar as EUR/USD trading above
the 1.3200 level and more likely it'll will kiss the 1.3500 level in
the near term. Over a period of month or so Dollar lost more than
700 pips against Euro. In the last 5 days USD/JPY trading between the
116.50 and 115.50. GBP/USD hits thru the 1.9600 level. Against Swiss
it was really bad hammering in it as trading below the 1.2000 level.
The most interesting part is there was no Dollar weakness against
CAD absoleutly flat trading. Morely Dollar is holding the CAD above
1.1400 level. And Other commodity currencies are trading stronger
against Dollar like Kiwi and Aussie. As AUD/USD touched the 0.7900
level.

For some time EUR/JPY struck in very tight range trading and a volatile of just 25 pips, currently EUR/JPY holding 153 level very firm.
Even EUR/GBP too struck in tighter trading range within the volatile
of hardly 20-25 pips. EUR/GBP strong support at 0.6740 level.
Swiss Franc gained nearly 50-60 pips against the Euro and trading below 1.5900. The strong support comes at 1.5865 level. Swiss evenly more stronger against Sterling where we're seeing the 75-80 pips of gain on Swiss Franc as GBP/CHF was unable to stay above the 2.3600 level. Yen was stronger by nearly 100 pips against Loonie as CAD/JPY just trading above the 101 level. AUD/CAD really to say that Aussie is getting stronger and stronger against the Loonie. As now we're seeing the level of 0.9000.