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  • #481
  • Oct 30, 2017 6:28am Oct 30, 2017 6:28am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, October 30th

The EUR/USD pair continues to correct from its multi-month lows, marked below the level of 1.16 last week, on the back of weaker positions of the US dollar. Seems that the common currency has finally recovered a smile after disappointing outcome of the ECB meeting, as investors are locking in profits after sharp drawdown of the pair. Recall, last week the ECB reduced asset purchase by half, but extended QE program until September 2018. However, the pair managed to recover some positions, broadly ignoring the latest developments from the political area of Spain, amid renewed weakness around the US dollar, backed by speculations regarding who will be the next head of the Fed – hawk or dove. Today both economic calendars will offer only secondary data releases, so broad market trend will remain the only determinant for the pair during this trading session, while upcoming important events, which will take place later this week, will be able to set up the tone for the pair.

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  • #482
  • Oct 31, 2017 6:38am Oct 31, 2017 6:38am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, October 31st

The EUR/USD pair lost its yesterday’s recovery trend and now is trying to consolidate its positions in the region of 1.1640, as investors remain in anticipation of flash EU CPI and GDP figures. However, mildly bearish dynamics of the US dollar continues to dominate the market, as speculations regarding who will be the next Fed Chair are still at full steam. Adding to this, reduced demand for risky assets, especially in light of downbeat Chinese data, upcoming Fed meeting and crucial data from the US labor market, also supports the euro somewhat on Tuesday. Besides the data from the Eurozone, today investors will also pay attention to the CB consumer confidence report, which will bring additional trading opportunities to investors during the NA session.

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  • #483
  • Nov 1, 2017 6:51am Nov 1, 2017 6:51am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, November 1st

The EUR/USD pair failed to sustain its bid tone, seen in early Europe, and returned to the red zone, as demand for the US dollar dominates the market today. During the Asian trading session, the greenback received additional bullish impetus, following the Chief of tax-writing committee K.Brady’s announcement, saying that the Committee will release the tax bill text on Thursday. Today all eyes are focused on the Fed meeting outcome, which in most cases will trigger massive volatility across the financial markets. It is widely expected that the regulator will keep its interest rate level unchanged, but investors will be eagerly awaiting for any clues what to expect in 2018 regarding Fed monetary policy. Besides the FOMC verdict, investors will also pay attention to the US ADP employment and ISM manufacturing reports, which will help the pair to form its near-term trajectory, while the EU data calendar will remain absolutely silent during this session.

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  • #484
  • Nov 16, 2017 5:44am Nov 16, 2017 5:44am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, November 16th

The EUR/USD pair remains within its narrow trading range of 1.1780-1.1800, as investors are expecting crucial inflation data from the Eurozone. Seems that the pair is consolidating positions after minor retreat from its monthly highs, marked yesterday in the vicinity of 1.1860, amid renewed risk appetite and expectations of fresh developments regarding the US tax reform. Today, the tax reform plan will be submitted for a vote in the House of Representatives. Leaders of the Republican Party have already expressed their support for the tax bill, which makes possible the implementation of much-awaited tax reforms by the end of this year. Besides the EU numbers and the tax vote, today we have a package of reports from the US economy, featuring Philly Fed manufacturing index and slew of secondary releases, which will help the pair to from its trajectory during the NA session.

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  • #485
  • Nov 17, 2017 5:16am Nov 17, 2017 5:16am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, November 17th

The EUR/USD pair failed to sustain its overnight gains and slipped below the level of 1.1800 on the back some minor attempts of the US dollar to correct positions against its main competitors. However, strong sell-off of the US dollar is still navigating the market, so slight retreat of the pair may appear temporary. Broad weakness of the US dollar is mainly attributed to the latest headlines, saying that special counsel Robert Mueller requested President D.Trump’s campaign documents in terms of ongoing investigation of possible US President’s connection with Russia. As for the tax reform, Republicans in the House of Representatives yesterday approved the tax bill, and now it goes to the Senate for consideration. However, the market barely reacted on this positive news, as it was broadly expected and traders have managed to price in this outcome. Now all eyes remain glued to the ECB President M.Draghi’s speech due later in Europe, while the US housing data will also draw some attention in the NA session.

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  • #486
  • Nov 21, 2017 5:21am Nov 21, 2017 5:21am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Tuesday, November 21st

The EUR/USD pair consolidates its positions today, within its tight range of 1.1730-50, however, being weighed by developments on the political field of Germany. The Euro continues to receive negative pressure from latest headlines, saying that A.Merkel’s CDU/CSU party failed coalition talks, and now is preparing for re-elections. On the other side, risk negative environment supports the euro as funding currency on the back of ongoing political conflict between the US and N.Korea. Looking ahead, today we have quite light data calendar, with only US existing home sales lined up for release, so any further German political developments and US dollar price dynamics will remain key navigators for the pair during this trading session.

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  • #487
  • Nov 22, 2017 5:20am Nov 22, 2017 5:20am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Wednesday, November 22nd

The EUR/USD pair extends its recovery trend, as broad retreat of the US dollar remains key driving theme across the market on Wednesday. The main reason of greenback’s weakness remains yesterday’s cautious speech of the Fed Chief J.Yellen, where she noted that the US inflation continues to demonstrate surprisingly low growth pace. Moreover, seems that markets have already passed over recent German political developments, which is another positive factor for the pair. Today the EU data calendar won’t bring us anything important, so the US dollar price dynamics will remain the key determinant for the pair, while important fundamentals from the US and FOMC minutes will grab investors’ attention during the NA session.

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  • #488
  • Nov 23, 2017 5:37am Nov 23, 2017 5:37am

Daily economic digest from Forex.ee

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Thursday, November 23rd

The EUR/USD pair keeps positive mood for the third session in a row in wake of increased selling pressure on the US dollar. Currently the pair is trading in the area of its multiday highs at 1.1840 spot, as investors are still digesting yesterday’s dovish FOMC meeting minutes. Following FOMC meeting results, it became clear that Fed members remain concerned regarding lower inflation growth rates, which raise doubts in the further implementation of aggressive monetary policy of the Fed. Adding to this, a slew of positive German data, featuring preliminary German Manufacturing PMI numbers, also helped the pair to keep its positive tone in early Europe. Now investors await the ECB minutes for fresh momentum, while thin trading conditions will likely to keep the pair in a calm mode, as the US market remains closed due to Thanksgiving Day.


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  • #489
  • Nov 24, 2017 5:22am Nov 24, 2017 5:22am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, November 24th

The EUR/USD pair consolidates its recent bullish rally in the vicinity of 1.1850 level at the last trading session of the week. The pair remains positive for the fourth session in a row, despite attempts of the US dollar to correct after its significant drawdown, triggered by dovish FOMC minutes on Wednesday. The main reason of pair’s positive mood remains the fact that concern about the political situation in Germany was somewhat eased. On the other side, the market barely reacted on yesterday’s ECB minutes, which showed that ECB members are not yet ready to name the exact end date of the QE program. Now immediate focus shifts toward German Ifo business surveys, which will remain the only important release of this day, so the pair will continue to follow broad market trend to determine its further trajectory.

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  • #490
  • Nov 27, 2017 5:29am Nov 27, 2017 5:29am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, November 27th

The EUR/USD pair caught fresh bids in early Europe after brief consolidation phase and now is trading near its 2-month highs, marked in the region of 1.1950. Seems that euro bulls are still holding the pair under its control, extending pair’s positive rally for the fifth consecutive session. Recent upside trend of the pair could be explained be broad weakness of the US dollar, triggered by dovish comments of Fed members in regard to the weaker inflation on the last FOMC meeting. Moreover, the pair received additional bullish impetus, following positive headlines from the German political field, saying that Chancellor A.Merkel’s CDU party is ready to form the government with Social Democratic Party of Germany, thus leaving behind the political drama, which was weighing the common currency. Nothing much is scheduled in the EU data calendar, while the US will publish new home sales data, which is the only important release of this Monday, so broad market trend will remain as a key driving factor for the pair during this trading session.

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  • #491
  • Nov 28, 2017 5:31am Nov 28, 2017 5:31am

Daily economic digest from Forex.ee

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Tuesday, November 28th

The EUR/USD pair came out of its consolidation phase this morning, having dropped below the level of 1.1900 on the back of attempts of the US dollar to extend yesterday’s recovery trend. However, the spike was short-lived and the pair regained its positions above the level of 1.19, as markets remain cautious ahead of the speech of the next Fed Chair Jerome Powell. Investors await that Mr. Powell’s testimony could shed some light on how he intends to run the central bank. On the other side, positive comments regarding possible compromise in German politics help the common currency to keep its upbeat tone, which in turn positively affects the pair. Besides Mr.Powell’s testimony, investors will pay attention to the US CB consumer confidence for fresh trading opportunities during the NA session.

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  • #492
  • Nov 29, 2017 5:46am Nov 29, 2017 5:46am

Daily economic digest from Forex.ee

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Wednesday, November 29th

The pair EUR/USD resumed the upside on Wednesday, correcting higher from its weekly lows, marked at 1.1827 during the last NA session. The main reason of pair’s corrections remains offered tone of the US dollar. Yesterday the greenback came under bearish pressure, following dovish comments of Fed Chair nominee J.Powell, who reiterated recent Fed Chair J.Yellen’s comments on weaker inflation growth pace. However, pair’s further upside looks fragile on the back of sharp drawdown of the euro in the cross with the pound, which eventually exerts negative correlational pressure on EUR/USD. Looking ahead, today the Eurozone will offer only secondary data reports, while the US will publish the preliminary GDP report and pending home sales data. Adding to this, today Fed Chief J.Yellen will speak before the Joint Economic Committee of Congress on economic outlook that will hog the limelight during the NA session.

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  • #493
  • Nov 30, 2017 5:42am Nov 30, 2017 5:42am

Daily economic digest from Forex.ee

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Thursday, November 30th

The EUR/USD pair failed to keep positive tone in early Europe and dropped to session lows, marked in the region of 1.1810, despite better-than-expected data reports from German labor market. The main reason of pair’s retreat remains ongoing recovery of the US dollar, which is dominating the market lately. Moreover, seems that markets have already passed over recent positive news from German political field, while sharp drawdown of the euro in the cross with the pound is still weighing the common currency across the boeard. Looking ahead, since the report from the German labor market was the only important data release for today, the broad market sentiments and the US dollar dynamics will remain the key driving factors for the pair during this trading session.

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  • #494
  • Dec 1, 2017 5:26am Dec 1, 2017 5:26am

Daily economic digest from Forex.ee

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Friday, December 1st

The EUR/USD pair extends its upside trend for the third session in a row, keeping its positions above the level of 1.19 at the last working day of the week. Yesterday the greenback came under fresh selling pressure after the Senate delayed a vote on the highly anticipated US tax cut legislation, which, in turn, had a positive effect on the major currency pair. Moreover, seems that the retreat of the euro in the cross with the pound, caused by optimism surrounding Brexit, eased somewhat that also remains positive factor for the shared currency. Looking ahead, today the US will publish ISM manufacturing PMI report, which will likely hog the limelight during the NA session, while any price actions of the US dollar will remain as the key determinant for the pair during this trading session.

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  • #495
  • Dec 4, 2017 5:27am Dec 4, 2017 5:27am

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Monday, December 4th

The EUR/USD pair remains under bearish pressure, as optimism around the greenback dominates the market on Monday. Recently the US Senate approved the tax overhaul bill that brings much awaited tax cuts a step closer to their implementation. Moreover, fading uncertainty surrounding US President’s connection with Russia is also offering some support to the greenback. According the latest information, reports about Russia's involvement in the 2016 presidential election appeared faulty. On the data front, today both economic calendars won’t offer anything interesting, so the pair will keep tracing broad market sentiments and USD price dynamics to determine its further trajectory.

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  • #496
  • Dec 5, 2017 5:54am Dec 5, 2017 5:54am

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Tuesday, December 5th

The EUR/USD pair regained bearish tone in early Europe, as the greenback caches fresh bids on Tuesday. Yesterday the pair managed to recover some losses on the back of corrective slide of the US dollar, however, the correction did not last long, as US bulls are still full of steam. On the other hand, further retreat of the pair may appear capped, as strong gains of the euro in the cross with the pound, backed by renewed uncertainty over the Brexit deal, are providing some correlational support to the main currency pair. Looking ahead, today the EU calendar will offer only secondary data reports, leaving the pair at the mercy of greenback price dynamics, while the US will publish the ISM Non-Manufacturing PMI data, which will be able to lend some short-term directional impetus later today.

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  • #497
  • Dec 6, 2017 5:34am Dec 6, 2017 5:34am

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Wednesday, December 6th

The EUR/USD pair failed to keep its yesterday’s recovery trend and once again came under selling pressure, moving closer to its 2-week lows, marked near the level of 1.1800 a day before. Renewed pair’s weakness is mainly attributed to attempts of the US dollar to recover its positions after yesterday’s drawdown, which was triggered by dovish remarks of Fed member Charles Evans, who offered not to rush on Fed monetary policy tightening. However, fresh wave of risk aversions amid the latest North Korea headlines provided some support to the euro and as a result limited pair’s retreat. Today all traders’ attention will be focused on the US ADP report, which will provide investors with clues on what to expect from the key event of this week – NFP date release.

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  • #498
  • Dec 7, 2017 5:35am Dec 7, 2017 5:35am

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Thursday, December 7th

The EUR/USD pair consolidates its positions today within 1.1790-1810 after 2-days retreat, backed by broad demand for the US dollar. Recent demand for the US dollar is mainly attributed to yesterday’s ADP jobs report, which is considered by markets as prerelease of the key data from the US labor market. Moreover, the buck received extra support after the Senate passed the tax reform bill earlier in the week, thus increasing optimism around markets hopes that long-awaited D.Trump’s tax cuts could be implemented by the end of this year. On the data front, today the US economic calendar will offer only secondary data reports, which will unlikely attract market’s attention, while the speech of the ECB President M.Draghi will be able to bring some fresh trading opportunities to investors during the NA session.

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  • #499
  • Dec 8, 2017 5:42am Dec 8, 2017 5:42am

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Friday, December 8th

The EUR/USD pair keeps navigating southwards for the fourth session in a row, remaining within striking distance of its 2-week lows, marked in the area of 1.1740. Increased demand for the US dollar remains one of the key navigators across amid investors' expectations that long-awaited US tax reforms will be implemented by the end of this year, which, in turn, negatively affects the pair on the last day of this working week. Moreover, strong drawdown of the euro in the cross with the pound on the back of progress in the Brexit negotiations exerts additional correlation pressure on the single currency across the market. On the data front, today all eyes will remain on the data from the US labor market, which will be able to shape up the tone of the US dollar ahead of next week’s Fed meeting.

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  • #500
  • Dec 11, 2017 5:42am Dec 11, 2017 5:42am

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Monday, December 11th

The EUR/USD pair remains better bid at the start of this week on the back of broad weakness of the US, as mixed data from the US labor market failed to cheer up US bulls. Despite the fact that the main indicators of employment in the US were positive, the results for the previous month were revised in the negative direction, which became the main factor of the retreat of USD. However, further upside of the pair looks fragile, as we are heading towards FOMC monetary policy decisions that forces investors to readjust their trading strategies, taking into account possible sharp spikes of volatility. On the data front, today European data calendar will remain broadly silent, while the US will publish another report from the labor market, which will help the pair to determine its further direction during the NA session.

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