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  • #121
  • Apr 25, 2016 5:18am Apr 25, 2016 5:18am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, April 25th

EUR/USD feels positive at the start of this week, bouncing of the lowest level in the last three weeks. Now pair consolidating in the mid-1.1200s, posting daily tops so far and recovering some ground after last week’s sell-off. Ahead in the session, the German IFO indicator is next on tap, with market consensus expecting a generalized albeit slight improvement during the current month. Moving forward, a very interesting calendar will put the greenback in center stage, with the FOMC meeting being the salient event on Wednesday. At the moment pair is trading at 1.1244, with todays support and resistance levels located at 1.1147 and 1.1295.



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  • #122
  • Apr 26, 2016 5:06am Apr 26, 2016 5:06am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Tuesday, April 26th

GBP/USD met strong resistance at level 1.45 yesterday, with no chances to sustain above it. The cable is seen consolidating near 10-week tops, although failed to keep 1.45 handle, as a mild cautious tone prevalent in the markets weighed on the risk currency GBP. However, the GBP/USD pair manages to remain on the bids on the back of stabilizing oil prices and growing anti-Brexit chatter across the GBP markets. Today economic calendar contains BBA Mortgage Approvals from UK and core Durable Goods Orders (Mar) with CB Consumer Confidence from US later. Currently pair is trading abandoning yesterdays high and holding on 1.4492 spot. Todays support and resistance levels are located at 1.4406 and 1.4597 marks


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  • #123
  • Apr 27, 2016 5:15am Apr 27, 2016 5:15am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Wednesday, April 27th

GBP/USD trades slightly lower near Europe, consolidating in upper 1.45. Pair is feeling confidence this morning amid broad based US dollar weakness and growing anti-Brexit support. However, traders are expecting the UK prelim GDP report due to be published in the European session. Markets are expecting the GDP growth rate to have slow, on the back of sentiments based on Brexit poll results. After the UK data, the main event for the major is expected to be the FOMC decision, following the conclusion of the two-day policy meeting that started on Tuesday. The pair is currently trading at 1.4573 with current support and resistance levels located at 1.4493 and 1.4729.


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  • #124
  • Apr 28, 2016 4:42am Apr 28, 2016 4:42am

Daily economic digest from Forex.ee

Stay informed of the key economic events



Thursday, April 28

EUR/USD remains under the bullish pressure while markets still digesting the Fed and BOJ policy decisions. Currently pair trades near yesterdays sessions high progressing gains above 1.13 on the back of renewed USD selling across the board, triggered by dovish FOMC statement and BOJ hawkish policy decision. While the main events are behind traders will focus today on German prelim CPI, employment data as well as the US GDP report will be released day ahead. Now pair trades at the 1.1355 with strong bullish pressure, expanding todays gains. Support and resistance levels are located at 1.1268 and 1.1414.



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  • #125
  • Apr 29, 2016 4:58am Apr 29, 2016 4:58am

Daily economic digest from Forex.ee

Stay informed of the key economic events



Friday, April 29th

USD/CAD remains under the bearish pressure today after weak USD GDP print and rising of the crude oil prices. Pair still expanding its multi-month lows near 1.25, for five consecutive weeks of losses. Today, traders will closely watch the Canadian GDP release for February. CAD bulls feels strong enough that even a slight positive GDP reading would make them push the pair through 1.25 handle. Now pair trades at 1.2521 with its support and resistance levels at 1.2457 and 1.2613.


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  • #126
  • Edited 5:41am May 2, 2016 5:30am | Edited 5:41am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, May 02nd

GBP/USD is regaining its bid tone and keeps its range-trade intact above 1.46 handle since mid-Asia. UK markets remain closed today in observance of May Day, but US will release ISM manufacturing report due later today. Now pair trades modestly flat, keeping its range near 1.46 with current level at 1.4610. Todays support and resistance levels are located at 1.4580 and 1.4637


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  • #127
  • Edited 5:23am May 3, 2016 5:05am | Edited 5:23am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Tuesday, May 3rd

AUD/USD dropped down, after RBA unexpectedly slashed the benchmark interest rate to a new record low of 1.75%. The pair broke through levels of 0.77 and 0.76, losing up to 150 points. In the comments Central Bank explained that currently the economy continues to rebalance after the investment boom in the mining industry and policy easing at this stage will improve the outlook for the economy. Also worth noting that recently the Australian inflation figures were unexpectedly low. Such measures made aussie to lose ground, forcing him to move away from weekly highs, finding support near 0.7550 only. Now the pair is still holding kept level under 0.75, stepping a little back from the reached lows and trading at 0.7583. Support and resistance levels are located at around 0.7448 and 0.7668.


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  • #128
  • May 5, 2016 5:00am May 5, 2016 5:00am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Thursday, May 05th

USD/CAD turned around near its 2 week peaks just under the level 1.29 after 2 days moving upward. Canadian dollar gained massive support from oil prices after news that the forest fire rage in Canada still persists and state of emergency has been declared. Looking ahead, pair will stay under sentiments of oil prices today, as markets will also focus on Canadian building permits for March, and initial jobless claims from US side. Now pair is trading 1.2826, staying under the bearish pressure. Todays support and resistance levels are located 1.2752 and 1.2973.

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  • #129
  • May 6, 2016 4:59am May 6, 2016 4:59am

Daily economic digest from Forex.ee

Stay informed of the key economic events

Friday, May 06th

EUR/USD trades in the flat since yesterday, within a range of 20 points near 1.14 mark, as traders are awaiting for main event of this week NFP. Pair received some support in Asia from stock market as oil prices negatively influenced resource and energy sector. Looking ahead, nothing fundamental is not represented by Euro zone this Friday on the other hand traders are awaiting Aprils nonfarm payrolls from US. Also US will release participation rate and average hourly earnings. Currently the pair is trading at 1.1414 spot, with its approximate support and resistance levels at 1.1284 and 1.1507.


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  • #130
  • May 9, 2016 5:05am May 9, 2016 5:05am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, May 09, 2016

GBP/USD fails to hold its higher positions and now consolidate near its 10-day lows at 1.44 spot, on the back of a broadly higher US dollar. Pair still is gaining some support from oil price rally as Canadian wildfire still brings some worries to traders. Nothing important is scheduled in data calendar for today, except for the secondary data in the UK Halifax HPI and US labor market conditions report. At the moment pair trades at 1.4411 with its todays support and resistance levels at 1.4324 and 1.4523



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  • #131
  • May 10, 2016 5:40am May 10, 2016 5:40am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, May 10th

USD/CAD took some break and stood back from yesterdays psychological high above 1.3000. US dollar strength and softer crude oil prices made CAD to fall back from this week lows. Only secondary data from US will influence pairs directions. US stockpiles by the API and the speech by New York Fed’s W. Dudley are in data calendar for today. Now pair trades 1.2961 with todays support and resistance levels located at 1.2902 and 1.3078.



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  • #132
  • May 11, 2016 6:03am May 11, 2016 6:03am

Daily economic digest from Forex.ee

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Wednesday, May 11th

GBP/USD is trading modestly flat this morning, gaining some momentum on the back of upcoming Britains' Manufacturing Production figures. Market expects that the UK will show some recovery after disappointed data from last month. In turn, US will publish crude oil inventories later today. Tomorrow traders will focus on Interest Rate Decision from UK. The pair is currently trading at 1.4455 with support and resistance levels located at 1.4379 and 1.4542.



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  • #133
  • May 12, 2016 5:53am May 12, 2016 5:53am

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Thursday, May 12th

GBP/USD stood back from its highs at 1.44 level witnessed in Asia. Now traders are awaiting for todays main releases from BOE. Todays inflation report from BOE could make possible to softer British monetary policy. At the moment BOE’s forecast for GDP is well above market expectations. Another important event scheduled in data calendar that will influence pairs sentiment is Interest Rate Decision, Bank of England is expected to remain unchanged on interest-rates decision. Now pair trades at 1.4436 spot, experiencing some volatility before its major release. Support and resistance levels are located at 1.4350 and 1.4536.


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  • #134
  • May 13, 2016 5:41am May 13, 2016 5:41am

Daily economic digest from Forex.ee

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Friday, May 13th

GBP/USD have returned and consolidated on bottom of 1.44 level. As market calmed down after Thursdays important UK data, pair fall back as market absorbed latest statement of BOE on the back of Brexit fears. This morning pair is feeling some bearish pressure, as dollar is claiming some recovery across the market while investors bid-up the US currency before the US upcoming data releases. Looking ahead, next on focus for pair are the second-liner data in the UK construction output ahead of a fresh batch of significant US economic data. At the moment pair trades at 1.4410 with approximate todays support and resistance levels at 1.4336 and 1.4586



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  • #135
  • May 16, 2016 6:40am May 16, 2016 6:40am

Daily economic digest from Forex.ee

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Monday, May 16th

GBP/USD bounced off from three-week lows printed just above 1.4350 level. Pound goes down to its red zone as risk-off sentiments makes bears take control over the pair after a sudden drop in the Japanese benchmark. However, pairs down moves are restricted by oil price growth and pressure on the US dollar. Data calendar is quiet for today, as US will introduce only secondary data that wont produce any high volatility during todays session. Now pair trades at 1.4367 with todays support and resistance levels at 1,4259 and 1,4447.


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  • #136
  • May 17, 2016 5:09am May 17, 2016 5:09am

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Tuesday, May 17th

EUR/USD is still keeping its position above 1.13, trading modestly flat. Due to lack of fundamentals from Euroland, focus will remain on US macro releases. Looking forward, traders will expect trade balance provided by EU and building permits, core CPI and housing starts from US. Currently the pair is trading at 1.1316 spot, staying directionless. Todays support and resistance levels are located at 1.1278 and 1.1362.


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  • #137
  • May 18, 2016 5:54am May 18, 2016 5:54am

Daily economic digest from Forex.ee

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Wednesday, May 18th

EUR/USD is refreshing its three-week lows, due to risky sentiments are gaining momentum. Euro bulls cant break through its key resistant level at 1.13, as US dollar is still strong on the back of yesterdays releases from US and expectations of a less dovish Fed minutes document. Also dollar is gaining some strength from upcoming EU data that is expected to be weak. Today US will introduce crude oil Inventories, followed by Euroland CPI release. Currently the pair is trading at 1.1275, moving in a negative direction. Todays support and resistance levels are located at 1.1257 and 1.1359

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  • #138
  • May 19, 2016 5:45am May 19, 2016 5:45am

Daily economic digest from Forex.ee

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Thursday, May 19th

EUR/USD fell sharply since this Wednesday. Now pair is trading near its three-week lows after massive sell-off on the back of surprisingly hawkish FOMC meeting minutes. Today ahead are ECB monetary policy meeting accounts and Fed Manufacturing Index from Philadelphia with couple of speeches from the Fed officials M. Fischer and W. Dudley scheduled in US data calendar. Currently pair is trading at 1.1220, losing almost cent since yesterday. Support and resistance levels are located at 1.1146 and 1.1350.


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  • #139
  • May 20, 2016 5:14am May 20, 2016 5:14am

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Friday, May 20th

EUR/USD traded in flat this morning hovering in a 15-pips narrow range. The pair remains directionless, waiting for the upcoming economic events that could set up the tone for the pair. Today Eurozone data calendar is empty while US will provide home sales data along with Fed’s member D. Tarullo speech. Also, the G7 summit will be watched today, which also will imbue some sentiments in further direction. Currently the pair is trading at 1.1208 with its support and resistance levels located at 1.1153 and 1.1253 marks.


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  • #140
  • May 23, 2016 6:29am May 23, 2016 6:29am

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Monday, May 23rd

USD/JPY has fallen from Fridays highs, marked at 110.58 level and now is hovering in the upper half of 109 level. The pair failed to hold on above 110 level witnessed at the end of last week as risk-off sentiments dragged it back to 109 area. With light economic calendar, investors will focus today on Fed members J. Bullard speech later during New York session that could provide some further directions for the pair. Meanwhile, risk sentiment across equity markets will also influence pairs direction. Currently the pair is trading at 109.79 spot, meeting resistance as getting closer to 110 level. The approximate support and resistance levels are located at 109.43 and 110.91 spots.

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