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Singapore Dollar Off Near 2-month High Against U.S. Dollar

The Singapore dollar that spiked up the U.S. dollar on better-than-expected second quarter GDP data in early Monday Asian deals retreated shortly thereafter. Singapore's gross domestic product spiked 15.5 percent in the second quarter of 2013 compared to the previous three months, the Ministry of Trade and Industry said in today's revised report. That was even higher that last month's advanced estimate that called for a 15.2 percent jump. It follows the downwardly revised 1.7 percent increase in the first quarter. On a yearly basis, GDP was up 3.8 percent - up slightly from 3.7 percent in the estimate, and sharply higher that the 0.2 percent gain in Q1. The Singapore dollar is now trading at 1.2621 against the greenback, off early high of 1.2559 in nearly 2 months. The pair finished last week's trading at 1.2574. News are provided by InstaForex.

Euro Steady Ahead Of German CPI And WPI Data


German final consumer price inflation and wholesale price index for July are due at 2:00 am ET Tuesday. Ahead of these reports, the euro held steady against other major currencies.
As of 1:55 am ET, the euro was worth 1.3311 against the greenback, 129.54 against the yen, 0.8609 against the pound and 1.2327 against the franc.

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Malaysian Ringgit Slides To 2-1/2-year Low Against U.S. Dollar



The Malaysian Ringgit lost ground against the U.S. dollar in the Asian deals on Wednesday.
The ringgit touched 3.2725 against the greenback, a level not seen since March 2011. If the ringgit extends slide, it may face support around the 3.30 area. At yesterday's close, the pair finished trading at 3.2585.


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Chart Focus: Dxy Readies for Channel Breakout





Recent low at trendline support led to sharp rally
2-day shallow pause seen at upper channel line - bullish
Breakout to come - higher highs / higher lows to continue
New high above July high at 84.75 to target long term trendline at 85.7

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NZ Dollar Climbs To Fresh 2-month High Against Greenback

The New Zealand dollar continued to creep higher against the US dollar on Friday morning in Asia, rising to 0.8114, its strongest level since June 14. The next likely resistance for the kiwi-greenback pair is seen around the 0.8135/40 area.

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Chart Focus: Usd/krw more Upside Seems Likely



Tues saw shooting star candle but likely not meaningful
Bulls likely to test key resistance at long term trendline at 1,132
Only daily closes below 1,109 support shelf would change bullish view
Holding above trendline would see quick move to retest June high


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Australian Dollar Jumps To More Than 2-week High Against NZ Dollar

The Australian dollar lifted further against the NZ dollar in Asian deals on Thursday. The aussie approached 1.1480 against the kiwi for the first time since August 5. Further extension of bullish trend may see the aussie finding resistance around the 1.155 level. The pair was worth 1.1431 at yesterday's close. News are provided by InstaForex.

Yen Off Early Asian Session Lows Against Majors



The Japanese yen that lost ground in the early Asian session on Friday erased some of its losses in late trading.
The yen rose to 131.89 against the euro and 106.86 against the Swiss franc, up from early Asian session's near 1-month lows of 132.35 and 107.19, respectively.
The Japanese currency that fell to fresh 2-week lows of 154.45 against the pound and 99.11 against the dollar bounced back to 154.03 and 98.86, respectively by 1:45 am ET.

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Chart Focus: Eur/gbp Bulls may be Back in Driving Seat



Bullish daily candle on Friday closed well above broken trendline
0.859 has been key level since February - daily close above
Close was right on 50 day MA - closes above should be watched for
Bulls look to be regaining their strength after recent selloff

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Malaysian Ringgit Slides To More Than 3-year Low Against U.S. Dollar



The Malaysian Ringgit drifted lower against the U.S. dollar in Asian deals on Tuesday.
The ringgit touched 3.3310 against the greenback, a level not seen since June 2010. The ringgit may likely target support at 3.34 area. The pair finished Monday's deals at 3.3050.


News are provided by InstaForex.