FxWirePro- Forex Daily Update

 US dollar Index-

The US dollar index holds above 105.50 amid mixed US economic data. It hit a low of 105.78 and is currently trading around 105.67.

US Richmond manufacturing index slowed in June to -10 vs. Forecast of -3. US CB consumer confidence drops to 100.40 in June from the previous month's 101.34.

According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep increased to 59.50% from 61.7% a week ago.

US economic data for the day

US new home sales  (2 pm GMT)

Major resistance- 106/107

Major support- 103.80/103

EURUSD-

EURUSD is consolidating in a narrow range with no direction. It hit a low of 1.06904 yesterday and is currently trading around 1.07098.

Euro economic data

German Gfk consumer climate

Major resistance-1.0760,1.0835

Major support- 1.0650,1.0600

Yen-

The pair is struggling to break above 160 level on intervention fears. Any close above 160.20 confirms further bullishness.

Major Resistance- 160.20,162

Major support- 158,156

Canadian Dollar

The Canadian dollar gained momentum after strong CPI data. It rose to 2.9% YoY, above the estimate of 2.6%. Any break below  1.3600 confirms further bullishness.

Resistance- 1.3730, 1.3800

Major support- 1.3600,1.3535