The British Pound Slightly Rose Versus The Greenback

British Pound –The British Pound Slightly Rose Versus The Greenback after UK December services sector rose slightly in December to 56.8 vs. 56.7 forecast.

Today the eyes of the investors will be set for the interest rate decision of the The bank of England is expected to leave the rate at 0.5%.

There is a support level at 1.5930 if it breaks it the GBP momentum is down.

Overall, GBP/USD traded with a low of 1.5938 and with a high of 1.6064.Today, Halifax HPI is expected at 0.6% vs. 1.4% prior and Asset Purchase Facility is expected to remain at 2008
GBP/USD - Last: 1.6025

Resistance 1.6064 1.6154 1.6240

Support 1.5938 1.5833

The US Dollar Weakened Against Most Majors

(USD) – The Greenback against most majors owing to the ADP Employment Change that came out worse than expected showed that Firms the U.S. cut an estimated 84,000 jobs in December, also ISM Non-Manufacturing PMI came out worse than expected at 50.1 vs. 50.5 forecast .

NASDAQ decreased by 0.33% and Dow Jones rose by 0.02%. Crude oil traded near a 14-month high in New York as an industry report showed a decline in U.S. crude inventories, strengthened by 1.7% closed at 83.18$ a barrel.

Gold (XAU) rose by 1.6% closed at 1136.5$ an ounce. Today, Unemployment Claims is expected to rise from 432K to 449K.

(EUR) – The Dollar declined against the Euro as minutes of the Federal Reserve’s Dec. 15-16 meeting showed policy makers debated increasing and extending asset purchases should the economy weaken. If the price goes above 1.4500 the momentum is bullish.

Overall, EURO/US DOLLAR traded with a low of 1.4283 and with a high of 1.4434.

Today, German Retail Sales are expected to rise from 0.0% to 0.4%, euro zone Retail Sales are expected to remain at 0.0% , German Factory Orders are expected at 1.6% vs. -2.1% prior.
EUR/USD – Last: 1.4408

Resistance 1.4455 1.4483

Support 1.4334 1.4283 1.4257