USD Dollar (USD)

The Dollar was mixed versus the majors after Inventories at U.S. wholesalers rose in October for the first time in more than a year, signaling companies are picking up the pace of orders as the economy shows signs of improvement. NASDAQ and Dow Jones strengthened by 0.5% respectively. Crude Oil fell by 2.7% after the report showed that Crude inventories fell by 3.8 million barrels and Crude price closed at 70.64$ a barrel after oil inventories showed a rise. Gold(XAU) fell by 2% closing at 1120.4$ an ounce. Today, Trade Balance is expected at -36.9B vs. -36.5B prior. Unemployment Claims is expected to rise from 457K to 463K. Federal Budget Balance is expected at -136B vs. -176.4B prior.


EURO (EUR)

The Euro gained slightly versus the Dollar after U.S. stocks rose modestly, reviving demand for higher-yielding assets. Overall, EUR/USD traded with a low of 1.4668 and with a high of 1.4782. Today, ECB Monthly Bulletin will be released and ECB President Trichet will speak at the University of Cambridge.


Resistance

1.4782

1.49

1.5090

Support

1.4675

1.46