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  • #581
  • Apr 19, 2018 5:35am Apr 19, 2018 5:35am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, April 19th

The EUR/USD pair trades on a positive note this Thursday, having returned to the region of the 1.2400 after yesterday’s drawdown. On Wednesday, the pair received moderate bearish impetus after the EZ CPI data missed market expectations, which hints on a dovish outcome of the ECB monetary policy meeting, scheduled for the next week. However, the pair managed to bounce off its intraday lows and regain its bullish tone, as weaker sentiments around the US dollar continue to dominate on the market, thus offering some support to the pair. Today the European economic calendar won’t offer anything relevant, so investors will focus on the US macro data for any fresh impetus.

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  • #582
  • Apr 20, 2018 5:27am Apr 20, 2018 5:27am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, April 20th

The EUR/USD pair was consolidating its positions during the Asian session, trading within 1.2334-53 range, amid lack of any drivers. Yesterday the pair received notable bearish impetus on the back of attempts of US bulls to retake control over the pair. However, further retreat lacked a momentum and the pair entered its narrow corridor. Moreover, the subdued dynamics of the pair could be additionally explained by increasing cautiousness, as we are heading towards the ECB meeting, which will take place next week already. But for today, the economic calendar will remain broadly silent, so widespread market trend will remain the key navigator for the pair at the last trading session of this week.

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  • #583
  • Apr 23, 2018 5:23am Apr 23, 2018 5:23am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, April 23rd

The EUR/USD pair remains bearish for the third consecutive session, having refreshed its 2-week lows on the level of 1.2229 at the start of this week. It seems that demand for the US dollar is still dominating the market, thus limiting any chances of the pair to recover its losses. However, any sharp moves of the pair looks unlikely, as we are heading towards the ECB meeting, where, according to markets expectations, the Bank will once again show dovish stance, leaving its monetary policy highly accommodative. But in today’s event calendar investors will find the German manufacturing PMI report and data from the US housing market, which will bring investors fresh trading opportunities during the NA session.

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  • #584
  • Apr 24, 2018 5:03am Apr 24, 2018 5:03am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, April 24th

The EUR/USD pair refreshed its nearly 2-month lows in Asia at 1.2285 spot and now is keeping its positions near that level. The main reason of pair’s recent retreat could be called broad demand for the US dollar, which dominated the market the last few sessions. However, it seems that US bulls came out of steam this Tuesday, allowing the pair to stall its recent downside trend during Asian trades. Meanwhile, caution among investors continues to gain momentum, thus limiting pair's sharp moves, as we are getting closer to the ECB meeting, which will be held this Thursday. On the data front, today both economies have prepared important data releases for this session, however, the US dollar price dynamics will remain as a key navigator for the pair on Tuesday.

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  • #585
  • Apr 25, 2018 5:26am Apr 25, 2018 5:26am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, April 25th

The EUR/USD pair follows broad market trend in the middle of this trading week, having spiked the level of 1.2200 in early Europe. Yesterday the pair managed to recover some part of its losses after 3-day southern rally on the back of downside correction of the US dollar. However, it seems that the greenback regained positive tone this Wednesday, thus forming fresh market trend. On the other hand, typical cautiousness ahead of much-awaited ECB meeting, which is scheduled for tomorrow, could limit further decline of the pair. On the data front, today both economic calendars won’t offer investors anything interesting, leaving the pair at the mercy of the US dollar dynamics, which is dominating the market lately.

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  • #586
  • Apr 26, 2018 5:29am Apr 26, 2018 5:29am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, April 26th

The EUR/USD pair was trading on a positive note during this Asian session, having bounced off its recent 2-month lows, marked at 1.2160 spot, due to slight downside correction of the US dollar. However, further sharp moves of the pair look unlikely in wake of increasing cautiousness, as now all market’s attention remains focused to the ECB meeting, which will take place during the European trading session. It is expected that the Bank will keep its stance unchanged, especially taking into account that the last meeting indicated an economic slowdown of the EZ in the beginning of the year. However, any comments of President M.Draghi during the subsequent press conference regarding any changes in Bank’s aggressive bond buying program will be able to spark volatility on the pair. Besides the key market-moving event of this Thursday, investors will also pay attention to the US data releases, which will also help the pair to form its short-term trajectory today.

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  • #587
  • Apr 27, 2018 5:36am Apr 27, 2018 5:36am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, April 27th

The EUR/USD pair again came under bearish pressure in early Europe, having refreshed its 3-month lows below the level of 1.2100, after brief consolidation phase, seen during the Asian session. Yesterday the pair received another bearish impetus following uninformative outcome of the ECB meeting. Moreover, during the subsequent Q&A session the ECB President M. Draghi mostly reiterated all we heard before, saying that QE program would last until sustained inflation adjustment. Also Mr. Draghi added that the ECB didn’t discuss the outlook for monetary policy, thus avoiding any further comments regarding Bank’s plans. In general, the ECB President sounded cautious and concerned, thus sending the pair nearly a cent lower, towards the level of 1.2100. Today investors will focus their attention on the German unemployment rate and the US preliminary GDP figures, which will help the pair to form its near-term trajectory at the end of this week.

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  • #588
  • May 2, 2018 4:54am May 2, 2018 4:54am

Daily economic digest from Forex.ee

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Wednesday, May 2nd

The EUR/USD pair managed to correct above its psychological level of 1.2000 this Wednesday, after testing the region of 1.1980, which is the lowest level in the last 4 months. It seems that US bulls have eased pressure across the market in wake of a typical cautiousness ahead of the FOMC meeting, which will take place during the NA session. It is widely expected, that the regulator will keep its interest rate unchanged, while any comments regarding further plans of the Fed will be able to spark some volatility across the market. Today the CB is likely to confirm market expectations of a June rate hike, however, the main market-moving event will be if the Bank points to 3 rate hikes this year. Besides the FOMC meeting, investors will also pay attention to the German PMI and the US ADP jobs report, but broad cautiousness will limit market’s reaction on these releases.

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  • #589
  • May 3, 2018 5:18am May 3, 2018 5:18am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, May 3rd

The EUR/USD pair has finally found some buying interest, having bounced off its 5-month lows, located at 1.1938. Today offered tone of the US dollar remains the key theme across the market, allowing the pair to recover some part of its losses. Recent downside correction of the greenback is mainly attributed to yesterday’s FOMC meeting, where the regulator failed to surprise investors. The Bank left its interest rate unchanged on the level of 1.5%, matching broad market expectations. Moreover, the Fed stressed that sees inflation close to its target level of 2% and expects the extension of gradual growth of the economy. However, the regulator did not offer any comments regarding the acceleration of interest rate growth, leaving in the prospect only two rate hikes this year. On the data front, today all eyes will remain glued to the preliminary EZ inflation data, while the next risky event for the pair is scheduled for this Friday, as the US will release NFP, which will bring spike of volatility across the market.

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  • #590
  • May 7, 2018 3:52am May 7, 2018 3:52am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, May 7th

The EUR/USD pair follows broad market trend this Monday, having refreshed its intraday lows at 1.1938 spot. It seems that demand for the US dollar has improved across the market, forcing the pair to step closer to its multi-month lows, marked on the level of 1.1911 last Friday in wake of data from the US labor market. At the end of the last week, the US released the NFP report, which failed to match market expectations, however, the US dollar still rose against its major competitors, as the overall US unemployment rate showed positive results. Moreover, growing divergence between the ECB and Fed also keeps the pair under pressure lately on the back of market expectations for two Fed interest rate hikes this year. As for the data for today, the economic calendar won’t be able to offer us anything interesting, so the pair will continue to follow broad market trend during this trading session.

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  • #591
  • May 8, 2018 4:21am May 8, 2018 4:21am

Daily economic digest from Forex.ee

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Tuesday, May 8th

The EUR/USD pair remains directionless this Tuesday, trading within its intraday range of 1.1910-40, as US bulls seem to have taken a breather, allowing the pair to stall its retreat. However, the pair looks very fragile lately, having retested yesterday its 4-month lows below the level of 1.1900. Recent weakness of the pair is mainly explained by broad demand for the US dollar and increased divergence between the Fed and ECB, as Fed plans to perform 2 rate hikes this year, while the ECB sees only a slight improvement in the EZ economy, without any hints at further monetary policy tightening. As for economic events, today in early Europe the Fed Chair J. Powell will deliver his speech, while during the NA session the US will release JOLTs jobs report and the US President D. Trump will announce his decision on the Iranian nuclear program.

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  • #592
  • Edited 4:57am May 9, 2018 4:41am | Edited 4:57am

Daily economic digest from Forex.ee

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Wednesday, May 9th

The EUR/USD pair follows broad market trend and extends its downside trend, having again refreshed its multi-month lows on the level of 1.1826. Weakness of the pair is still explained by the continuing demand for the US dollar, as investors expect to see more hawkish monetary policy from the Fed this year. Moreover, the bullish dynamics of the US dollar was additionally underpinned by yesterday’s announcement of the US President D. Trump, who decided to withdraw the US from the Iran deal. There is no clear explanation, why the US dollar gained additional bullish momentum after Mr. Trump’s decision, but some market participants believe that the rise in oil prices, triggered by the US President’s announcement, could accelerate Fed monetary policy tightening pace. On the data front, today the US economy will offer investors only the PPI report, so broad market trend, determined by the US dollar dynamics, will continue to navigate the pair.

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  • #593
  • May 10, 2018 5:10am May 10, 2018 5:10am

Daily economic digest from Forex.ee

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Thursday, May 10th

The EUR/USD pair follows broad market trend, correcting higher from its multi-month lows, marked on the level of 1.1823 a day before. Today’s recovery of the pair is mostly attributed to a softer price dynamics of the US dollar, caused by increased cautiousness ahead of crucial US data. Many market participants believe that positive US inflation data will help the Fed to accelerate monetary policy tightening pace in the form of another rate hike this year. This outcome will expand the divergence between the Fed and ECB, which will increase pressure on the euro by its American rival. Meanwhile, today the EZ economic calendar won’t offer investors anything important, so all market’s attention will remain glued to the US CPI report. However, today traders will also pay attention to the BoE meeting, which will provide some correlation impetus to the pair during European trades.

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  • #594
  • May 11, 2018 4:57am May 11, 2018 4:57am

Daily economic digest from Forex.ee

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Friday, May 11th

The GBP/USD pair remains pressured at the end of the week after yesterday’s volatile session, as markets continue to digest the outcome of the BoE meeting. As it was widely expected, yesterday the UK’s CB left its interest rate unchanged at 0.5%, which was caused by a series of weak British economic data. In additional to that, all MPC members agreed that any further increases in rate are likely to be at a gradual pace and to a limited extent. And finally, during its meeting the Bank lowered its near-term forecasts on inflation and GDP. All these developments exerted considerable pressure on the pound, forcing the pair to refresh its 4-month lows below the level of 1.3500. Now markets expect for a rate hike sometime in August or November, but it will be possible if UK's economic situation improves significantly. However, the pair managed to turn around and recovered some positions above its psychological level of 1.35, following another disappointment of Thursday – weak US inflation data, which forced US bulls to take a breather and allowed the major currencies to correct higher against the greenback, including the pound. But today, nothing much is scheduled in the data calendar, so investors will continue to digest recent economic events, thereby forming near-term trajectory of the pair.

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  • #595
  • May 14, 2018 4:53am May 14, 2018 4:53am

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Monday, May 14th

The EUR/USD pair remains positive for the third session in a row, having refreshed its weekly highs on the level of 1.1974. Today broad-based retreat of the greenback, triggered by weak inflation figures, remains the key navigator across the market, offering support to the pair. Moreover, US bulls remain exhausted after recent massive rally, which was underpinned by prospects of more aggressive Fed monetary policy this year. However, markets have eased odds of a fourth rate hike in 2018 in wake of recent weaker-than-expected US economic data. On the data front, today the economic calendar will remain silent, offering only secondary data reports, so widespread market trend will be the key determinant for the pair during the first trading session of this week.

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  • #596
  • May 15, 2018 5:07am May 15, 2018 5:07am

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Tuesday, May 15th

The EUR/USD pair follows broad market trend this Tuesday, retreating from its yesterday’s highs, marked in the vicinity of 1.2000. Renewed downside trend of the pair can be mostly explained by upside correction of the US dollar against its major rivals. It seems that markets have already digested recent disappointing US inflation figures, allowing the greenback to regain control over the market, thereby forming downside trend for the pair. As for the economic releases, today we have data-heavy session, as the economic calendar will bring us German ZEW surveys, preliminary EZ GDP figures and US retail sales, which will help the pair to form its further trajectory. However, broad market trend, partially determined by the US dollar price dynamics, will also be able to influence pair’s further actions.

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  • #597
  • May 16, 2018 5:01am May 16, 2018 5:01am

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Wednesday, May 16th

The EUR/USD pair remains broadly unchanged since today’s opening, having stuck in the region its multi-month lows, marked on the level of 1.1816 earlier this session. Yesterday the pair came under renewed bearish pressure in wake of increased demand for the greenback, despite weak US retail sales numbers. Recent bearish dynamics of the pair could be explained by intentions of the Fed to implement tightening measures to its monetary policy, which increases the divergence between the Fed and ECB, as the European regulator continues to remain in wait-and-see mode. Today during the European session investors will focus their attention on the first-tier EU CPI data and speech of the ECB president M. Draghi, while the NA session will bring us data from the US housing market, which will also help the pair to form its near-term trajectory.

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  • #598
  • May 17, 2018 4:36am May 17, 2018 4:36am

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Thursday, May 17th

The EUR/USD pair lost its bullish tone in early Europe and returned to the region of 1.1800. In Asia, the pair was trading on a positive note in wake of ongoing correction of the US dollar, which allowed the pair to refresh its intraday highs on the level of 1.1837. However, the pair failed to extend its correction and returned to the area of 1.1800. Renewed weakness of the pair could be partially explained by uncertainty on the political field of Italy. As it was reported earlier, Italy's 5 Star movement and League parties are going to form a coalition. Both these parties have showed itself as nationalistic and anti-EU, so investors are considering negative consequences, which may cause the coalition. Looking ahead, today the EU calendar will offer investors only second-tier data reports, so investors will remain in anticipation of the Philly Fed manufacturing index, which will be able to spark some volatility across the market during the NA session.

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  • #599
  • May 18, 2018 4:52am May 18, 2018 4:52am

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Friday, May 18th

The EUR/USD pair trades with mild bullish bias this Friday, keeping its positions above the level of 1.1800, after brief consolidation phase, witnessed during the previous NA session. It seems that the pair has finally stalled its downside trend after four consecutive days at a loss. The main reason of pair’s recent recovery can be called another downside correction of the US dollar against its major rivals. However, the pair remains under notable bearish pressured lately, as significantly increased divergence between the Fed and ECB continues weighing on the common currency. In the day ahead, the broad market trend will remain the exclusive driver for the pair, as economic calendar won’t bring us anything relevant this Friday.

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  • #600
  • May 22, 2018 5:02am May 22, 2018 5:02am

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Tuesday, May 22nd

The EUR/USD pair follows broad market trend, having stalled its downside trend, however, remaining within striking distance of its half-year lows, marked on the level of 1.1717 on Monday. Today slight correction of the US dollar after its bullish rally against major competitors remains the main theme across the market, allowing major currencies to recover some ground. However, further growth of the pair looks limited, as the formation of a populist coalition in Italy increases concerns, especially in regards to the fiscal policy of the new government. Looking ahead, today nothing much is scheduled in both economic calendars, so investors will remain in anticipation of next important events - the FOMC minutes due for tomorrow and the ECB minutes, which will be released on Thursday.

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