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  • #501
  • Dec 12, 2017 5:51am Dec 12, 2017 5:51am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, December 12th

The EUR/USD pair broke out of its consolidation trend at the beginning of European trades on the back of broad retreat of the US dollar. Today the weakness of the greenback remains one of the key driving factors across the market, as investors are recalibrating its positions ahead of the FOMC meeting. However, markets have already priced in hawkish Fed decision, so investors would be looking for projections on the monetary policy of the Fed for 2018, which would eventually help the greenback to determine its further direction. Looking ahead, today we will have pretty busy trading session, with German ZEW economic sentiment and the US PPI report, while the speech of ECB head M.Draghi will be the main event of this Tuesday.

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  • #502
  • Dec 13, 2017 6:07am Dec 13, 2017 6:07am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, December 13th

The EUR/USD pair remains positive today ahead of one of the key events of this week – FOMC meeting. Expected that the Fed will raise its interest rates for the third time this year, but investors are eagerly awaiting for the accompanying statement, which could bring fresh clues over the central bank's outlook for 2018. Moreover, any dovish comments by Fed Chair J.Yellen during press conference may cause a sharp retreat of the US dollar, as markets have already priced-in an increase in the interest rate by 25 bps. Today’s upbeat trend of the pair could be mainly attributed to recent political news from the US, saying that D.Trump’s candidate lost Alabama US Senate race that eventually could negatively affect the timing of the tax bill final implementation. Today, besides the FOMC meeting, investors will also pay attention to the US inflation figures, while tomorrow’s ECB interest rate decision will keep investors cautious, as it could trigger fresh wave of speculations regarding further divergence between two CBs.

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  • #503
  • Dec 14, 2017 5:57am Dec 14, 2017 5:57am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Thursday, December 14th

The EUR/USD pair keeps its positions above the level of 1.1800, however, having retreated from its daily highs during the Asia trading session on the back of the US dollar’s correction. Yesterday the pair received strong bullish impetus, despite hawkish Fed interest rate decision. As it was widely expected, the Fed increased its interest rate by 0.25%, however, failing to provide anything new regarding its further monetary policy. According to projections, the FOMC expects three more rate hikes during 2018, but the Fed Chair J.Yellen still believes that it could take a longer period for inflation to reach its target level of 2%. These dovish comments became the main reason of the US dollar’s retreat across the market. On the other hand, today investors’ eyes will remain glued to the ECB monetary policy decision. Expected that the CB will keep its rate unchanged, while any updates on economic forecasts could trigger a spike of volatility during the European trading session. Besides the ECB meeting, the US will publish retail sales numbers, which could provide additional impetus for the pair during the NA trading session.

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  • #504
  • Dec 15, 2017 5:40am Dec 15, 2017 5:40am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, December 15th


The EUR/USD pair regained its positive tone, moving closer to the level of 1.1800, after moderate retreat, provoked by dovish comments of the ECB President M.Draghi. On Thursday, the ECB left its interest rate unchanged, while revising its forecast for inflation and GDP to the upside. However, the pair failed to gain further positive traction after ECB press conference, where Bank’s President M.Draghi reminded about potential downside risks for inflation in the Eurozone. However, ongoing post-FOMC weakness of the US dollar is still dominating the market, allowing the pair to regain some position at the last working day of this week. Today, in absence of any important data releases, the pair will continue following broad market trend, caused by recent CB’s decisions.

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  • #505
  • Dec 18, 2017 5:48am Dec 18, 2017 5:48am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, December 18th

The EUR/USD pair paused its 2-day retreat and now is navigating towards the level of 1.1800. On Friday, the pair came under strong selling pressure, slipping below the level of 1.1750, on the back of news that the US Senate is expected to pass the vote on tax reforms this Tuesday and President Donald Trump is aiming to sign the bill by week’s end. However, the US dollar was unable to consolidate its positions and corrected lower at the beginning of this week, allowing the pair to recover some pips. Now all investors’ attention remains focused on the EU CPI report, which is the only important data released for today, so the US dollar price dynamics will assume as the main navigator for the pair this Monday.

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  • #506
  • Dec 19, 2017 5:49am Dec 19, 2017 5:49am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, December 19th

The EUR/USD pair shows positive dynamics for the second day in a row on the back of mixed sentiments around the dollar. The greenback remains broadly offered in the first half of this week in wake of increased cautiousness ahead of the Senate vote on the US tax reform bill, which, in turn, supports the major currency pair. Moreover, broad cautiousness ahead of important US economic event also offers some support to the euro, thus collaborating with recent upside trend of the pair. On the data front, now investors remain in anticipation of the German IFO business climate survey, while bloc of data from the US housing market will bring some fresh trading opportunities during the NA session. The key focus, however, would remain on a possible Senate vote on the US tax reform bill.

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  • #507
  • Dec 20, 2017 5:59am Dec 20, 2017 5:59am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, December 20th

The EUR/USD pair extends its upside trend for the third session in a row, as ongoing softness of the US dollar remains key driving factor across the market this Wednesday. Recently the greenback received another bearish impetus following latest update on the tax reform bill. The US Senate approved tax legislation, however, sending bill back to House of Representatives for a re-vote, as some documents didn’t match the rules of the Senate. On the data front, today the EU data calendar will remain silent, while the US will publish fresh data from the US housing market, which will help the pair to determine its further movement direction. However, today all eyes will remain glued to fresh developments related to the upcoming US tax reform.

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  • #508
  • Dec 22, 2017 5:05am Dec 22, 2017 5:05am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, December 22nd

The EUR/USD pair remains under pressure at the end of this week as political turmoil between the Spanish and the Catalan governments weighs the common currency. Currently the major currency pair is trading in the region of 1.1850, having recovered some pips. However, euro bulls looks exhausted today, as investors are still digesting Catalan Separatists election victory, which in near future may negatively affect the Spanish political climate. However, post-Catalan vote momentum may appear limited, as now investors await for fresh developments from the Spanish political area. Today the EU data calendar won’t bring us anything noteworthy, while the US will publish a slew of important economic indicators, which will bring fresh trading opportunities during the NA session.

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  • #509
  • Dec 27, 2017 5:47am Dec 27, 2017 5:47am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, December 27th

The EUR/USD pair remains positive this Wednesday, keeping its positions in the region of 1.1870 at the European opening. The main reason of pair’s positive dynamics remains offered tone of the US dollar, which dominates the market today. Weakness of the US dollar could be mainly explained by market speculations on further Fed plans regarding its monetary policy for the next year. Adding to this, slightly positive sentiments around the common currency, underpinned by recent ECB revision of its economic growth estimates, which potentially can narrow divergence between policies of both CBs, also support the main currency pair. In the day ahead, investors will await for a slew of important data releases, however, any sharp moves look unlikely, as lower liquidity and thin market conditions dominates the FX space at the end of the year.

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  • #510
  • Dec 28, 2017 5:25am Dec 28, 2017 5:25am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, December 28th

The EUR/USD pair shows positive dynamics this Thursday, having tested the resistance level of 1.1940 in early Europe. Recent upward move of the pair is mainly due to a fresh bout of aggressive selling of the US dollar, caused by yesterday’s red numbers of CB consumer confidence and closing of greenback bids ahead of the New Year holiday. Adding to this, still positive sentiments around the common currency, backed by recent ECB’s revision of its economic growth forecasts, provide extra support to the pair in the second half of this week. Looking ahead, today nothing noteworthy is scheduled in the data calendar, so broad market trend will remain as a key navigator for the pair during this session, while light trading will continue to persist ahead of the New Year celebration.

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  • #511
  • Dec 29, 2017 5:48am Dec 29, 2017 5:48am

Daily economic digest from Forex.ee

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Friday, December 29th

The pair EUR/USD continues to show positive dynamics at the end of this year, finally breaking through the resistance level of 1.1960, while refreshing its 3-month highs. Seems that USD bears are still dominating the market, which is considered as the main driver of pair’s latest bullish rally. Recent weakness of the US dollar could be mainly explained by closing buy positions on the greenback ahead of the New Year celebration. Adding to this, speculations on narrowing divergence between the Fed and ECB policies also provide some support to the major currency pair lately. On the data front, today the economic calendar will offer only secondary data reports, such as German flash inflation numbers, which will unlikely attract enough of traders’ attention, so broad market trend will continue to navigate the pair during the last working day of this year.

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  • #512
  • Jan 3, 2018 5:15am Jan 3, 2018 5:15am

Daily economic digest from Forex.ee

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Wednesday, January 3rd

The EUR/USD pair extends retreat from its highs, which were last seen in September 2017, on the back of pause in sell-off of the US dollar. However, further pair’s retreat may appear limited as market players are awaiting FOMC Minutes for fresh clues on further Fed monetary policy projections. Moreover, persisting weakens of the greenback remains a key driving factor across the market, thus limiting pair’s chances of further sharp downside correction. Besides FOMC meeting minutes, investors today will also pay attention to German unemployment data and US ISM Manufacturing PMI, which will also help the pair to from its further trajectory during this trading session.

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  • #513
  • Jan 4, 2018 6:50am Jan 4, 2018 6:50am

Daily economic digest from Forex.ee

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Thursday, January 4th

The EUR/USD pair remains better bid this Thursday, having bounced off the resistance level of 1.2000 during Asian trades, on the back of renewed weakness in the US dollar. Seems that markets have already digested yesterday’s slightly hawkish FOMC meeting minutes. Yesterday's FOMC protocols showed broadly that the Bank left its inflation projections broadly unchanged, however, considering three more interest rate hikes this year, which was generally perceived by the market as the "hawkish" outcome of the last Fed meeting. However, further growth of the pair looks limited, as hawkish Fed minutes sparked fresh speculations on divergence between Fed and ECB monetary policies, which in turn exerts some bearish pressure on the pair. Moreover, it is expected that further downside correction may happen soon, as markets believe that pre-New Year rebalancing of US dollar positions could be over. On the data front, the EU economic calendar will remain broadly silent this Thursday, while the US will offer traders data from the labor market. However, expected that today’s US data won’t trigger sharp market moves, as investors remain in anticipation of the key jobs report, which will be published tomorrow.

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  • #514
  • Jan 5, 2018 5:38am Jan 5, 2018 5:38am

Daily economic digest from Forex.ee

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Friday, January 5th

The EUR/USD pair came under bearish presser and lost some pips in early Europe after brief consolidation phase on the back of attempts of the US dollar to recover its positions across the market. Recent dollar’s recovery could be mainly explained by upbeat data from the US labor market, released on Thursday. Adding to this, markets are expecting further downside correction of the major currency pair in wake of profit-taking actions after its recent bullish rally and re-opening buy orders on the US dollar after New Year holidays. On the data front, today we have a pretty busy session, as the economic calendar contains several important releases, such as flash EU inflation numbers and crucial US jobs report, which will set up pair’s further direction this Friday.


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  • #515
  • Jan 8, 2018 5:41am Jan 8, 2018 5:41am

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Monday, January 8th

The EUR/USD pair extends its Friday’s retreat, having broken through the resistance of 1.2000 at the start of European session. The main driver for the major currency pair remains ongoing bullish correction of the US dollar, despite Friday’s red numbers of the NFP report. However, the revision of the previous NFP results to positive ones provided the dollar with sufficient support to extend its positive correction against its major rivals. Moreover, mixed Eurozone flash inflation data, released on Friday, also exerted some bearish pressure on the pair, thus collaborating with pair’s downside trend at the start of this week. Looking ahead, today in absence of any relevant data releases from both sides, the pair will remain under the influence of the US dollar price dynamics, which will determine pair’s further direction during this trading session.

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  • #516
  • Jan 9, 2018 5:36am Jan 9, 2018 5:36am

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Tuesday, January 9th

The EUR/USD pair remains offered for the third consecutive session, extending its retreat from the area of its multi-year tops, located near the level of 1.2090. Recent weakness of the major is mainly explained by ongoing post-New Year correction of the US dollar. Moreover, even yesterday’s cautious comments regarding less aggressive rate hikes by Fed members failed to stop recovery of the greenback. Looking ahead, today the EU data calendar will bring only secondary data reports, which most likely won’t attract much of investors’ attention, while the US will publish JOLTs job openings, thus bringing fresh trading opportunities during the NA session.

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  • #517
  • Jan 10, 2018 5:50am Jan 10, 2018 5:50am

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Wednesday, January 10th

The EUR/USD pair stalled its recent retreat and now is attempting to recover positions. On Tuesday, the major currency pair met some support in the vicinity of 1.19 and by the moment of writing has trimmed some previous losses, having refreshed its intraday highs at 1.1950 level. Recent positive dynamics of the pair could be mainly attributed to slight downside correction of the USD, as investors have passed over Friday’s results from the US labor market. Looking ahead, today the economic calendar won’t bring us anything noteworthy, except several Fedspeaks, so the US dollar dynamics will remain the sole driver for the pair this Wednesday.

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  • #518
  • Jan 11, 2018 5:38am Jan 11, 2018 5:38am

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Thursday, January 11th

The EUR/USD pair remains defensive this Thursday, having lost the most part of its recent gains. Yesterday the major currency pair received strong bullish impetus, braking through the resistance level of 1.2000, in wake of sharp drop of the US dollar across the market, triggered by Chinese headlines. The Chinese officials stated that they are considering to slow purchases of the US Treasuries. However, the greenback managed to regain its positive tone on the back of fresh market talks that China’s reduction of the US Treasuries purchases could be interpreted incorrectly. Adding to this, yesterday’s hawkish comments of Fed members, indicating another three rate hikes this year, provide extra support to the greenback today. Now all traders’ attention shifts towards ECB minutes, which may contain some fresh information regarding regulator’s further projections regarding its monetary policy. Also, the US will publish today the PPI report and several second-tier data, which will also help the pair to form its further trajectory.

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  • #519
  • Jan 12, 2018 5:54am Jan 12, 2018 5:54am

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Friday, January 12th

The EUR/USD pair extends its sharp bullish rally, having refreshed its 3-year highs at 1.2137 spot this morning. Yesterday the pair received strong bullish impetus following hawkish ECB minutes, which showed confidence amid Bank’s members regarding further inflation growth. Moreover, the ECB December meeting protocols noted that the regulator is considering a gradual adjustment in the forward guidance to better reflect the improved growth prospects. The regulator admits that forward guidance could be revisited early in 2018. Moreover, ongoing softness of the US dollar, additionally boosted by downbeat US PPI data, also provides some support to the major currency pair at the end of this week. Looking ahead, today the US has prepared us another bloc of important releases, such as inflation data and retail sales numbers, which will help the pair to form its further trajectory during the NA session.

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  • #520
  • Jan 15, 2018 5:49am Jan 15, 2018 5:49am

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Monday, January 15th

The EUR/USD pair is remaining within striking distance of its multiyear highs, marked earlier this morning at 1.2240 spot, as weakness of the US dollar is still dominating the market. The offered tone of the US dollar could be explained by recent market trend, based on speculations regarding potential convergence of monetary policies of the Fed and major central banks. Adding to this, positive news from the German political field, saying that German party leaders have finally reached a breakthrough on the coalition talks, and speculations on recent hawkish ECB minutes also contribute to pair’s bullish trend this Monday. However, it is expected that the pair won’t show any sharp moves today, as the US market will remain closed in wake of celebration of Martin Luther King, Jr. Day, while the EU data calendar remains absolutely empty this Monday, leaving the pair at the mercy of widespread market sentiments.

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