Tranquility in markets as nations lacked data
![]( "Tranquility in markets as nations lacked data")
Major economies today lacked major economic data which meant that the markets were tranquil after the G7 finance ministers met this weekend in Canada while the European finance ministers did not announce new measures that would help shrink budget deficits around Europe. The Dollar Index, which usually measures the strength of the dollar versus six major currencies, is currently traded at 80.32 while recording a high of 80.51 and a low of 80.10.
The euro dollar pair is consolidating between the support of 1.3600 and the resistance of 1.3740 at 1.3663 while the momentum indicators show us that on the one-hour charts the pair is being traded in an oversold area, the volume indicator show us there is low volume in the markets. The pair so far recorded a high of 1.3712 and a low of 1.3620.
The pound also like the euro, as the United Kingdom lacked major economic data we see that the GBP/USD pair is trading in narrow at 1.5594 between the support of 1.5545 and the resistance of 1.5640. The pair so far recorded a high of 1.5625 and a low of 1.5533 while the momentum indicators also support the fact that there is sideways trading in the markets.
The USD/JPY is currently traded at 89.32 while recording a high of 89.55 and a low of 89.12, while we see that there is a support at 88.90 and a resistance at 89.60, as the pair trades in narrow ranges.