Mon, Aug 31 2009, 23:38 GMT
http://www.fxstreet.com
FXstreet.com (Buenos Aires) - Early Asia opening, dollar remains under pressure quoting under New York closing levels against major rivals. Technically looking for some downside continuation, but again stocks will lead the way; not only Nikkei, but also Shanghai Composite, that lost 5.3% past session. Asian shares have a negative cue from Wall Street, with DJIA down 1.0% and S&P down 0.8%. More falls in stocks will likely send investors back to safe-havens dollar and yen, with the last one probably being more benefited.
Market attention will also be on Australian’s RBA rates decision, expected to remain unchanged at 3.0% yet tone of comments will be key after past month hawkish and positive comments from Chairman Glenn Stevens. Commodity currencies are second market leading factor, after stocks.
EUR/USD now at 1.4330 area, capped by strong 1.4385/1.4400 area; GBP/USD now at 1.6380, needs to clear 1.6300 to gain some upside momentum, thus capped by yesterday’s high at 1.6330,a s Pound remains the weakest currency after dollar.
EUR/USD (Sep 01 at 05:25 GMT)
1.4356/57 (0.19%)
H 1.4358 L 1.4319
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.4275 | 1.4311 | 1.4347 | 1.4356 | 1.4392 | 1.4428 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Sep 01 at 04:40 (15-minute timeframe) | |
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