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  • #421
  • Aug 7, 2017 3:42am Aug 7, 2017 3:42am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, August 7th

Today the EUR/USD pair managed to recover part of its positions, as US bulls have took a breather, allowing investors to lock in some profits after sharp drawdown, led by better-than-expected NFP results. However, the pair met strong resistance at its psychological level of 1.1800, as market participants seem still digesting Friday’s solid jobs data from the US. Positive data from the NFP report led to stronger confidence in the US economy and increased odds for a Fed rate hike in December. As a result, the divergence factor between Fed's monetary policy and the ECB has again come into play, thereby weighing the pair. Nothing important is scheduled in data calendar for today, so broad market trend will remain as an exclusive determinant for the pair at the beginning of this working week.

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  • #422
  • Aug 8, 2017 3:11am Aug 8, 2017 3:11am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, August 8th

The EUR/USD pair managed to retake its psychological level of 1.1800 in Asian trading session, extending its recovery after major pullback, seen last Friday. By the moment of writing, the pair has eased part of its previous gains from its daily tops, marked at 1.1824, however, remaining in positive mood, as renewed sell-off around the dollar, triggered by yesterday’s comments of Fed N.Kashkari and J.Bullard, is navigating the market today. Both speakers sounded not so optimistic regarding further economic growth pace and inflation that forced the market to reconsider its expectations of possible Fed rate hike in December. Adding to this, the euro maintains a positive mood lately amid more hawkish sentiment of the ECB and improved fundamentals of the Eurozone. Now all traders’ attention shifts towards JOLTs Job Openings report, while EU economic calendar won’t bring any relevant releases today, leaving the pair at the mercy of broad market sentiments during European trading hours.

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  • #423
  • Aug 9, 2017 3:16am Aug 9, 2017 3:16am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, August 9th

The EUR/USD pair is following global market trend and corrected higher by the European opening after sharp drop, backed by positive data from the US labor market, as strong risk-off sentiments are supporting the Euro somewhat this Wednesday. Seems that the major has recovered a smile on the back of another spike of political tensions between the US and North Korea, triggered by headlines that North Korea's military is examining the operational plan to strike areas around the US territory of Guam with ballistic missiles. The North Korea’s statement was published after US President D.Trump warned NK that if it continues to threaten the US, it would "face fire and fury like the world has never seen." However, USD remains supported by upbeat US JOLTs job openings data, which could cap the renewed upside of the pair. Looking ahead, today the USD price dynamics will remain as a key determinant for the major amid lack of fundamental drivers from both calendars.

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  • #424
  • Aug 10, 2017 3:32am Aug 10, 2017 3:32am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, August 10th

The EUR/USD pair has lost its bid tone and currently is navigating to the south, extending its retreat below the level of 1.1750, as the US dollar is recovering ground across the market. Adding to this seems that the spike of geopolitical tensions between the US and North Korea has faded away, providing no support to the common currency this Thursday. However, it is expected that the pair won’t show any sharp moves in the day ahead, as investors are awaiting for the main event of this week – Friday’s US inflation prints, bringing some cautiousness across the market, as better-than-expected results will be able to hint on further US monetary policy tightening measures. On the data front, the EU calendar will remain silent today, leaving the pair at the mercy of the USD dynamics until the releases of the US PPI and jobless claims data, which will be released in the NA session.

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  • #425
  • Edited 3:40am Aug 11, 2017 3:25am | Edited 3:40am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, August 11th

The EUR/USD pair came out of its brief consolidation phase to the downside, as investors are taking some profits off the table after yesterdays upsurge, backed by poor US PPI report and dovish speech of FOMC member B.Dudly, talking about weaker inflation rate. The selling pressure, however, seems to have eased for the time being, as traders currently are preparing for the much-awaited US CPI report, due for release later during the NA session. This inflation data will be one of the key factors of the Fed's next monetary policy action and hence, should provide a fresh directional impetus to the major currency pair. Besides the US crucial data, today we wont see any relevant data reports, as the EU docket wont be able to surprise the market during European trading hours, leaving the pair at the mercy of global market trend until the major event.

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  • #426
  • Aug 14, 2017 4:00am Aug 14, 2017 4:00am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, August 14th

The EUR/USD pair corrects lower at the start of this week after strong upside rally, backed by weaker-than-expected the US CPI data, breaking through the support level of 1.1800. Seems that the market has passed over recent disappointment from the US economy, allowing the US dollar to recover part of its Friday’s losses against its main competitors. Moreover, improving risk appetite, underpinned by easing geopolitical tensions between the US and North Korea, also leaves the pair without any support on Monday. With no any relevant data reports from both economic calendars, the pair will continue to trace global market trend throughout this Monday, while investors are starting to prepare for the ECB and FOMC minutes, which will be released later this week and will be able to shed some light on further monetary policy moves of the regulators.

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  • #427
  • Aug 15, 2017 3:24am Aug 15, 2017 3:24am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, August 15th

The EUR/USD pair accelerated its downside traction this morning after Germany released weaker-than-expected preliminary GDP data, however, meeting resistance near the level of 1.1700. Moreover, it is expected that the major currency pair will keep navigating to the south on Tuesday, as the US dollar extends its recovery after recent drop, backed by weak US inflation data. Meanwhile, seems that the dust around geopolitical tensions between the US and North Korea settled down after recent headlines, saying that North Korea decided not to launch ballistic missiles on Guam, leaving the euro without any support on Tuesday. On the data front, besides German fundamental reports nothing else is left in the EU economic docket, so global market trend will continue to navigate throughout the European trading session, while the US economy will release retail sales data, which will be able to determine next short-term trajectory for the pair during New York trades.

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  • #428
  • Aug 16, 2017 4:44am Aug 16, 2017 4:44am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, August 16th

The EUR/USD pair extends its Asian consolidation pattern in the area of 1.1740 this morning, remaining in anticipation of fresh catalysts. Today the pair remains better bid, trying to extend recovery from yesterday’s drawdown, backed by positive data from the US economy, but further upside lacks of momentum, as broad cautiousness dominates the market today. On the other hand, improved demand for the US dollar, underpinned by renewed hopes of Fed rate increase in December, negatively affects the pair this Wednesday. Now immediate focus is remaining on Eurozone’s preliminary GDP report, while data from the US housing market will also be closely watched for fresh impetus in early NA session. However, the key event of this Wednesday remains release of FOMC Meeting Minutes, which will be able to provide another hint on Fed rate hike this year, thus setting the tone for the US currency in upcoming days.

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  • #429
  • Aug 17, 2017 3:46am Aug 17, 2017 3:46am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, August 17th

The EUR/USD pair lost its positive mood in the European morning, stepping away from vicinity of 1.1800, as investors are locking in some profits after sharp yesterday’s rally and also ahead of another key event, scheduled for this Thursday. Yesterday the pair bounced off its nearly 3-week lows, marked on the level of 1.1682, after non-favorable FOMC minutes once again showed concerns of the regulator regarding slow US inflation developments, thereby lowering market’s projections on Fed rate hike in upcoming months. Now all investors’ attention shifts toward ECB protocols, which will be able to boost speculations on divergence between the Fed and ECB. Besides ECB minutes, the Eurozone CPI report and US dataflow will also have some impact on the pair during this trading session.

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  • #430
  • Aug 18, 2017 3:26am Aug 18, 2017 3:26am

Daily economic digest from Forex.ee

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Friday, August 18th

The EUR/USD pair shows positive mood at the end of this week, as shrinking risk appetite and weaker US dollar support the pair on Friday. Seems that the market is still being influenced by dovish FOMC meeting minutes, which showed concerns of the regulator over weaker growth pace of the US inflation, which in turn is still pressuring the greenback. Moreover, increased demand for safe-haven, boosted by terror attack in Barcelona, supports the shared currency this Friday. On the other hand, further upside of the pair may appear capped, as the market is still digesting slightly dovish ECB minutes. The ECB protocols showed that the regulator was worried about stronger euro. Also Bank’s members noted that ECB will continue to maintain accommodative monetary policy if needed. Looking ahead, today only several Fedspeaks will be able to bring some impetus to the pair at the second half of the NA trading session, so broad market trend will remain as an exclusive driver for the pair at the end of this week.

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  • #431
  • Aug 21, 2017 3:25am Aug 21, 2017 3:25am

Daily economic digest from Forex.ee

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Monday, August 21st

Today the EUR/USD pair stepped below the level of 1.1750, despite strong risk-off trend, which was dominating the market in Asia. Seems that renewed demand for the US dollar remains the key determinant for the pair at the start of this week amid lack of any fundamental drivers. Moreover, last week’s ECB minutes, which showed worries of the regulator regarding higher exchange rate of the common currency, are still weighing the pair on Monday. However, shrinking risk appetite, backed by reappeared concerns over the conflict between the US and N.Korea, may provide some support to the euro, thus limiting pair’s further losses. Today nothing important is scheduled in data calendar, so the pair will continue to trace global market sentiments, while investors are slowly shifting their attention to the main event of this week - Jackson Hole Symposium, which will begin this Thursday.

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  • #432
  • Aug 22, 2017 3:12am Aug 22, 2017 3:12am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, August 22nd

The EUR/USD pair corrects lower after yesterday's rally, having broken through the level of 1.1800 on the back of recovery of the US dollar across the market. Adding to this, slightly improved risk sentiments amid cooling off conflict between the US and North Korea also negatively affect the pair on Tuesday. However, all traders’ attention remains on the Jackson Hole Symposium, where members of CBs, including J.Yellen and M.Draghi, will deliver speeches on monetary policy of banks. That is why the market will keep its cautious stance ahead of the key event of this week. But for now all eyes remain glued to German ZEW Economic Sentiment, while the US economic docket will continue to keep silence for the second consecutive day, so broad market trend will remain as a key determinant for the pair throughout the NA session.

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  • #433
  • Aug 23, 2017 3:41am Aug 23, 2017 3:41am

Daily economic digest from Forex.ee

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Wednesday, August 23rd

The EUR/USD pair came out of its bearish consolidation phase in European morning and refreshed its daily highs at 1.1794, following positive preliminary German Manufacturing PMI report and slightly hawkish speech of ECB President M.Draghi. Adding to this, prevailing risk-off trend, triggered by US President D.Trump’s speech, during which he threatened to close down the government in order to get funding to build a barrier along US southern border, also supports the major currency pair this Wednesday. On the other hand, further upside of the pair looks limited, as investors refrain of placing any important directional bets ahead of Jackson Hole Symposium, which will take place this Thursday. The market is expecting that both heads of regulators will offer some hawkish signs on monetary policies, which will boost speculations over the divergence between the Fed and ECB. In the day ahead, market participants will focus their attention on the data from the US housing market, while broad market trend will continue to lead the pair throughout this Wednesday.

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  • #434
  • Aug 24, 2017 3:36am Aug 24, 2017 3:36am

Daily economic digest from Forex.ee

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Thursday, August 24th

Seems that the EUR/USD pair corrects lower today, slipping below the level of 1.1800, as traders lock in some profits after yesterday’s minor rally, backed by positive German Services PMI data and slightly hawkish talks of ECB Chief M.Draghi. Adding to this, pickup in the US dollar demand remains one of the key navigators across the market that also weighs on the major currency pair on Thursday. Now all attention shifts towards the key event of this week - Jackson Hole Symposium, where Fed Chair Janet Yellen and ECB President Mario Draghi will deliver their speeches. The market will look closely at the speeches of both heads of regulators for fresh insight on Fed's monetary policy tightening plans and on possible QE program tapering by the ECB, which will be able to shape up pair’s next near-term trajectory. Also today, the US will release existing home sales data, which will be able to provide additional impetus to the pair during the NA session.

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  • #435
  • Aug 25, 2017 3:35am Aug 25, 2017 3:35am

Daily economic digest from Forex.ee

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Friday, August 25th

The EUR/USD pair trades with bearish bias at the end of this week, extending its retreat below the level of 1.1800, having barely reacted on positive data from the German economy. Retreat of the pair is mainly attributed to broad US dollar correction, while typical cautiousness ahead of important event is limiting pair’s chances on recovery, as investors refrain from placing any important directional bets. The key events of this day remain speeches delivered by Fed Chair J.Yellen and ECB President Draghi at the Jackson Hole economic forum. Markets awaits that both heads of regulators will point out on monetary policy courses of Banks, which will strongly boost speculations on the divergence between the Fed and ECB. In addition to Jackson Hole Symposium, the US economy will release durable goods data in early NA session, which will also be able to bring some directional impetus to the pair in the day ahead.

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  • #436
  • Aug 28, 2017 3:48am Aug 28, 2017 3:48am

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Monday, August 28th

The EUR/USD pair continues to keep positive mood, remaining in the region of its 2-1/2 year tops, marked at 1.1960 earlier this session. Seems that bulls have not given up yet after Friday’s 150 pips upside rally, following speeches of both heads of regulators at the Jackson Hole Symposium on Friday. The Fed Chair J.Yellen's speech wasn’t very informative, lacking of any details on Fed further monetary policy, that, in turn, disappointed the market and triggered broad sell-off of the US currency. On the other hand, ECB President M.Draghi in his speech showed intention of beginning the QE program tapering, however, not specifying when and how the regulator will implement these measures. Also Mr. Draghi noted that the EU economy continues to show sustainable recovery, while adding that accommodative monetary policy will remain appropriate for a while. In general, the speech of the ECB President was taken by markets as hawkish, providing additional support to the main currency pair. Today both economic calendars won’t bring any important data reports, so broad market trend will remain as a key determinant for the pair at the start of this week.

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  • #437
  • Aug 29, 2017 3:14am Aug 29, 2017 3:14am

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Tuesday, August 29th

The EUR/USD pair broke through its psychological resistance level of 1.20 in European morning, extending its multiyear highs. Currently the main currency pair is trading in the region of 1.2050, having refreshed its tops at 1.2070, which is the highest level since January 2015. The offered tone behind the greenback, triggered by disappointing speech of Fed Chair J.Yellen, remains one of the key navigators across the market, thereby supporting the pair. Adding to this, recent speech by ECB President M.Draghi at the Jackson Hole Symposium was perceived by markets as hawkish, as the head of the regulator was talking about plans of the ECB regarding tapering the QE program, that has strongly boosted speculations on divergence between the Fed and ECB, which, in turn appear, supportive to the pair. Moreover, persisting risk-off moods, ignited by escalated North Korean tensions, are also positively affecting the shared currency. Looking ahead, today we have another light data calendar, as only US CB Consumer Confidence numbers will offer fresh impetus to the pair, so widespread US dollar’s retreat and risk-off market trend will continue to lead the pair throughout this trading session.


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  • #438
  • Aug 30, 2017 3:29am Aug 30, 2017 3:29am

Daily economic digest from Forex.ee

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Wednesday, August 30th

The EUR/USD pair keeps its offered tone, having lost more than a cent since its multiyear tops, marked yesterday in the region of 1.2070. By the moment of writing, the pair was trading around the mid-point of 1.19 level, extending its retreat from yesterday peaks. Pair’s sharp reversal can be mainly attributed to broad profit taking actions after its strong bullish rally, triggered by recent events from the Korean Peninsula and widespread sell-off of the US currency. Adding to this seems that fears of further escalation of situation on the Korean Peninsula are fading away, which in turn also weighs the main currency pair on Wednesday. Later today, the US dollar price dynamics and broad risk trend will continue to navigate the pair throughout this trading session, while bloc of fundamentals from the US economy will be able to bring fresh impetus to the major later during the NA session.

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  • #439
  • Aug 30, 2017 3:51am Aug 30, 2017 3:51am
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  • #440
  • Aug 31, 2017 3:35am Aug 31, 2017 3:35am

Daily economic digest from Forex.ee

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Thursday, August 31st

The EUR/USD pair extends its downside trend for the third session in a row, correcting from its multiyear highs, posted on Tuesday in the region of 1.2070. By the moment of writing, the pair has lost about 2 cents since its recent highs, consolidating its retreat in the area of 1.1870-90. The fall of the pair is mainly due to the recovery of the dollar, following easing political conflict around North Korea and widespread profit taking actions after higher volatility period. Moreover, yesterday’s positive ADP jobs change and flash GDP numbers also added some confidence to the US dollar. However, further retreat may lack of momentum, as investors are preparing for another risky event of this week – NFP, which will be released on Friday. Now immediate focus remains on the prelim. EU CPI report, which will shape up pair’s near-term direction, while the US data calendar will keep investors busy during the NA session.

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