today's outlook: "I expect this afternoon to be fairly range bound in the absence of any important US data, with the euro vs dollar trading around 1.3930 with sellers lined up higher between 1.4050 and 1.4130. To the downside, 1.3880 is a strong area of initial support, and a break there may lead to 1.3760 in due course. Cable is likely to remain between 1.6160 and 1.6300 for now, here too there seem to be sellers waiting for better levels and the risk lies to the downside to attack the 1.60 level next. The dollar vs yen currently appears to be driven by the currency crosses. For now the 95.00 level is well supported, but a break there may lead to a larger movement lower over the next few weeks."


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Wall Street opens lower on oil's decline and economic concern; Dollar higher

FXstreet.com (Barcelona) - US stocks market are declining today's Wednesday session on commodities and earning and economic recovery concern. Dollar is rising against its major rivals, oil declines, gold advance and futures markets drop.

Dow Jones falls quickly 0.70%, losing its 8.300 pts level, S&P 500 index drops 0.57% and Nasdaq is losing 0.67% so far today. Oil barrel is trading around 63.75, 0.45% lower that opening price and Gold has risen 0.25% to trade around 926.50. US Futures stocks are falling, Dow futures posts 0.63% decreases and Nasdaq drops by 0.76%.

USD/JPY has fallen 40 pips in the last hour from 95.40 to test 95.00 key support. EUR/USD has fallen below 1.4000 level, easing its previous gains. GBP/USD has posted 1.6145 as new intra-day low after falling 0.75% so far today from opening price. USD/CHF has recovered from 1.0802 to trade close to 1.0850, 0.15% above today's opening price.

Anna Coulling, analyst Master The Markets, sharing with us her today's outlook: "I expect this afternoon to be fairly range bound in the absence of any important US data, with the euro vs dollar trading around 1.3930 with sellers lined up higher between 1.4050 and 1.4130. To the downside, 1.3880 is a strong area of initial support, and a break there may lead to 1.3760 in due course. Cable is likely to remain between 1.6160 and 1.6300 for now, here too there seem to be sellers waiting for better levels and the risk lies to the downside to attack the 1.60 level next. The dollar vs yen currently appears to be driven by the currency crosses. For now the 95.00 level is well supported, but a break there may lead to a larger movement lower over the next few weeks."


For more information, read our latest forex news.

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