AUD/USD has shown limited movement

AUD/USD ratio is unchanged on Thursday, consistent with the lack of movement from AUD/USD. Short positions have a majority (55%), indicative of trader bias towards the pair breaking out and moving ground.
•AUD/USD has shown limited movement throughout the Thursday session
•There is resistance at 0.7835
•0.7701 was tested earlier in support. This line remains fluid and could see further action in the North American session
•Current range: 0.7701 to 0.7835
Further levels in both directions:
•Below: 0.7701, 0.7560, 0.7440 and 0.7339
•Above: 0.7835, 0.7938 and 0.8045
The Australian dollar is almost unchanged on Thursday after gaining 50 points on Wednesday. In the North American session, AUD/USD is trading slightly above the 0.77 level. On the release front, it’s another quiet day. Australian MI Inflation Expectations dipped to 3.5%. There was more good news from the US labor market, as Unemployment Claims dropped to 266 thousand, beating expectations. Friday will be busy, as the US releases key retail sales, CPI and consumer confidence reports. Any unexpected readings could affect the movement of AUD/USD.

EUR/USD ratio is showing slight gains

The euro has posted moderate losses on Thursday, erasing most of the gains seen in the Wednesday session. Currently, EUR/USD is trading at 1.1140. In economic news, French Final CPI declined 0.4%, matching the forecast. Today’s key event is US Unemployment Claims, with the indicator expected to edge higher to 272 thousand. Friday will be busy, with Germany releasing Preliminary GDP, and the US publishing CPI and Retail Sales reports, as well as the UoM Consumer Sentiment report.EUR/USD ratio is showing slight gains in short positions. Currently, short positions have a strong majority (61%), indicative of trader bias towards EUR/USD continuing to move to lower levels.

USD/CAD trades

The Canadian dollar has posted small gains on Thursday, as USD/CAD trades at 1.3050. On the release front, Canada will release the New Housing Price Index, with the markets braced for a weak gain of 0.2%. Today’s key event is US Unemployment Claims, with the indicator expected to edge higher to 272 thousand. On Friday the US will release CPI and Retail Sales reports, as well as the UoM Consumer Sentiment report. USD/CAD ratio is showing long positions with a strong majority (58%), indicative of trader bias towards USD/CAD reversing directions and moving to lower levels.

USD/CAD has shown limited movement in the Asian and European sessions

 1.2990 is providing support

 1.3081 was under strong pressure in resistance earlier and is a weak line. It could see further action in the North American session

Further levels in both directions:

• Below: 1.2990, 1.2900 and 1.2780
• Above: 1.3081, 1.3219 and 1.3353
• Current range: 1.2990 to 1.3081

GBP/USD ratio

GBP/USD ratio is showing little movement on Wednesday. Long positions command a majority (57%), indicative of trader bias towards GBP/USD continuing to move to higher ground.The British pound has posted considerable gains on Wednesday. GBP/USD is currently trading slightly below the 1.31 level. On the release front, NIESR GDP Estimate dipped to 0.3%. Later in the day, the UK will release RICS House Balance, which provides a snapshot of the level of activity in the housing sector. Over in the US, today’s highlight is JOLTS Job Openings. This important employment indicator is expected to edge higher to 5.52 million. On Thursday, the US will release Unemployment Claims.

USD/JPY ratio is showing gains in short positions on Tuesday

USD/JPY ratio is showing gains in short positions on Tuesday. Currently, long positions have a strong majority (66%), indicative of trader bias towards USD/JPY breaking out and moving to higher ground.•USD/JPY has shown limited movement in the Asian and European sessions. The pair has posted slight losses in the North American session
•102.36 was tested earlier in resistance and is a weak line
•101.20 is providing support
•Current range: 101.20 to 102.36
The Japanese yen continues to have a quiet week and has posted small losses in the Tuesday session. In the North American session, USD/JPY is currently trading at the 102 line. On the release front, Japanese Preliminary Machine Tool Orders posted another sharp decline. Later in the day, Japan releases the Producer Price Index, which measures inflation in the manufacturing sector. The markets are braced for a sharp decline of 4.0%. In the US, there are no major events on the schedule. Preliminary Unit Labor Costs declined 0.5%, while Preliminary Nonfarm Productivity posted a gain of 2.0%.