The U.S. dollar started the day with gains against the Japanese yen for the second straight day as the dollar found support after the strong manufacturing data which also lifted greenback ahead of the ADP report that is expected to show U.S. companies added more workers during April.
The positive data again dimmed expectations for more Fed easing for now, after U.S. manufacturing grew in April at the strongest pace in 10 months, easing concerns the economy has lost momentum with the start of the second quarter, supporting the demand for the dollar until Friday's jobs report that will either support the gains or cut the gains short.
The USD/JPY pair advanced to the highest level in a week at 80.40 after it started the day at 80.21, recording a low of 80.09, and it's currently trading at 80.50.
The Australian dollar moved higher versus the dollar in a mere correctional move after the heavy selloff seen yesterday on the unexpected 50 bps rate cut. The AUD/USD pair recorded a high of 1.0353 and a low of 1.0324 after it started the session at 1.0336.
Turning to NZD/USD pair, it is fluctuated to record a high of 0.8152 and a low of 0.8126, after it started the session at 0.8148.
Technical analysis for precious metals with major support and resistance levels and recommendations for 18-08-2009