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  • #341
  • Mar 24, 2017 6:11am Mar 24, 2017 6:11am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, March 24th

The EUR/USD pair staged solid comeback in early Europe, backed by upbeat flash German Manufacturing PMI report, and now is flirting with 1.08 level. However, further pair’s upside potential remains capped, as US bulls are showing significant activity this Friday. Moreover, cautious sentiments, based on talks over the healthcare bill vote, that was postponed yesterday, are also limiting the pair from any sharp moves, while adding some better sentiments around euro’s funding status. Now focus turns on US Core Durable Goods Orders data, which will be released in NA session, while Trumpcare vote will grab most part of traders’ attention tonight.

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  • #342
  • Mar 27, 2017 5:06am Mar 27, 2017 5:06am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, March 27th

The EUR/USD pair is trading on a firm note, flirting with this year highs at 1.0873 spot, as failure of the Trumpcare bill in the Congress is driving the greenback lower across the board. Today the pair opened with strong bullish gap, following news that the House of Representatives rejected US President Donald Trump’s healthcare bill on Friday, thereby raising market’s concerns about D.Trump’s ability to fulfill his election promises. Additionally, positive German data, released in early Europe are also collaborating with positive sentiments around the common currency. Looking ahead, today the pair will continue to follow global market’s sentiments, as only several speeches by ECB and Fed members are scheduled in today’s docket.

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  • #343
  • Mar 28, 2017 5:07am Mar 28, 2017 5:07am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, March 28th

The EUR/USD pair stepped down from its four-month highs, posted yesterday at 1.0906 mark, and now is trading in the region of 1.0860 in response to dollar’s attempts to correct its positions against major rivals and improved demand for higher-yielding assets. Yesterday the main currency pair received strong support from better-then-expected German data, however, the main reason of yesterday’s growth of the euro was US dollar’s weakness. Today amid data quiet calendar from Eurozone the pair will continue to trace sentiments around the US currency, while US CB Consumer Confidence and Fed Chair J.Yellen’s speech will also provide some short-term impetus to the pair.

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  • #344
  • Mar 29, 2017 4:56am Mar 29, 2017 4:56am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, March 29th

The GBP/USD pair fell for more than two cents from yesterday’s highs and now is consolidating its sharp decline in the region of 1.2400 level, as traders remain unkind to the pound ahead of formal beginning of separation process between UK and Eurozone. Today all market’s attention will be focused on developments, surrounding the Article 50 trigger, as the UK PM T.May has already signed official notice that Britain is leaving EU and has sent it to European Council President D.Tusk, who will hold a press conference in European afternoon, announcing that negotiations on Brexit process will officially start. Beside Brexit process start, today the US economy will release data from housing market, while traders’ reaction on it will be limited in wake of more crucial events of this Wednesday.

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  • #345
  • Mar 30, 2017 5:27am Mar 30, 2017 5:27am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, March 30th

The GBP/USD pair was deadly quiet in Asia, keeping its range between 1.2430 – 50 marks, as market’s participants are now awaiting for a response of President of the European Council D.Tusk, that is scheduled on tomorrow, to UK PM T.May’s official letter of triggering Article 50, which will be able to provide more information on the two-year long Brexit negotiation process. However, the pair broke out of its consolidation box to downside, as the pound remains under bearish pressure lately in wake of rumors, that EU will penalize UK, which are fueling speculations around hard Brexit. On the other hand, UK remains one of the biggest markets for the EU, so hard Brexit looks unlikely. Nevertheless, further developments around divorce of UK and EU will remain as a key driver for the pound.

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  • #346
  • Mar 31, 2017 5:37am Mar 31, 2017 5:37am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, March 31st

The EUR/USD pair was trading around flat line in 20 pips range during Fridays Asia, consolidating this week sharp decline in the region of 1.0680 level. Generally, the pair remains under pressure for the fourth consecutive session, that is mainly due to markets revaluation of the ECB March statement, as the regulator recently made it clear that it is not in a hurry to raise rates or turn off QE program this year. Thereby, the divergence between ECB and Fed monetary policies has become more evident, providing negative effect to the common currency. The immediate focus now turns on block of economic releases from Eurozone, while the US docket will provide investors with only secondary reports, leaving the pair at the mercy of global markets sentiments during the NA session.

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  • #347
  • Apr 3, 2017 5:32am Apr 3, 2017 5:32am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, April 3rd

The EUR/USD pair stepped away from upper bound of its range, marked at 1.0681, after minor recovery, as US bulls are still keeping control over the pair. However, any further pair’s sharp falls are unlikely on the back of minor US dollar’s correction across the market, as traders are taking some profit off the table. On the other hand, better risk-on moods are providing some bearish pressure to the common currency, thereby collaborating with pair’s further retreat. At the moment investors are looking forward to the manufacturing PMIs lined up for release from both continents later today.

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  • #348
  • Apr 4, 2017 5:09am Apr 4, 2017 5:09am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, April 4th

The AUD/USD pair broke out of its short overnight consolidation range this morning and fell to its three-week lows, marked at 0.7572 spot, following uneventful RBA Statement. As it was widely expected the RBA kept status quo during its meeting, leaving its refi rate unchanged at 1.50% level. However, the accompanying statement showed, that RBAs focus remains on Chinese economy, as China is the largest Australias trading partner. The RBA members expressed concern over persisting medium-term risks of the Chinese economy, that eventually triggered an intense sell-off in the pair. Looking ahead, nothing much is scheduled in data calendar from both sides this Tuesday, so the USD price dynamics and dominant risk-off moods will continue to lead the pair during this trading session.

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  • #349
  • Apr 5, 2017 5:10am Apr 5, 2017 5:10am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, April 5th

The EUR/USD pair stepped away from its 3-week lows, posted yesterday at 1.0636, however, stalled its recovery in mid-Asia in wake of broadly stronger US currency. Seems that EUR bulls got out of steam today, allowing the pair to retreat from its this week highs, marked at 1.0685, in wake of broad demand for the USD. However, recent opinion poll results showed, that far-right candidate M.Le Pen is still behind E.Macron in French election race, thereby lending support to the common currency. Moreover, increasing nervousness ahead of tomorrow’s official meeting between leaders of the two largest economies in the world – US and China, will also provide extra legs of support to the pair. Today all attention turns toward the US ADP jobs report, followed by ISM services PMI and FOMC minutes, which will take center stage during NA session.

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  • #350
  • Apr 6, 2017 5:20am Apr 6, 2017 5:20am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Thursday, April 6th

The EUR/USD pair came under strong selling pressure in early Europe, as the market aggressively reacted on dovish stance of ECB President M.Draghi, forcing the euro to lose all its yesterday’s gains. The euro received strong bearish impact across the market, as Draghi once again noted that EU inflation growth pace is still slow and reassessment of current monetary policy stance is not warranted at this stage, thereby sending the pair to refresh it 3-week lows at 1.0629 mark. Now all investors’ attention turns toward another key risky event of this Thursday - Chinese President Xi Jinping’s and US President Donald Trump’s meeting, where the main issues concerning future relationships of the countries will be discussed. Looking ahead, only secondary data reports will be released later this day, so traders will continue to digest recent ECB President M.Draghi’s speech.

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  • #351
  • Apr 7, 2017 5:16am Apr 7, 2017 5:16am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, April 7th

This morning the USD/JPY pair fell to its nearly 2-week lows in wake of another sharp spike of risk aversion across the market. Today it became known that US President D.Trump ordered to strike Syrian airbase in response to Syria's use of chemical weapons against civilians. In his official statement D.Trump called all civilized nations to seek for the end of slaughter and bloodshed in Syria. This crucial news triggered huge wave of risk-off sentiments, sending the pair to refresh its lows at 110.13, which were last seen only last Monday. At this moment the pair has managed to correct its positions, recovering part of its losses, as the dust around geopolitical tensions is slowly settling down, however, cautious state of the market will continue to cheer up safe-haven assets, such as the yen, ahead of crucial NFP report and the second round of the US-China Summit, which outcome has the potential to trigger a fresh wave of volatility across markets.

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  • #352
  • Apr 10, 2017 5:14am Apr 10, 2017 5:14am

Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, April 10th

The EUR/USD pair remains consolidative at the start of this week, keeping its positions within striking distance of its monthly lows, posted this morning at 1.0570 spot. Today the pair continues to extend its bearish bias, despite worse-then-expected NFP, seen last Friday, as general US Unemployment Rate ticked lower, showing that situation on the US labor market is not so bad, thereby broadly supporting US bulls. Moreover, improved risk-on sentiments, triggered by positive outcome of US-China Summit, where both leaders indicated on strong relationships between two largest economies of the world, are also providing some negative pressure on the pair at the start of this week. Today only Fed Chair J.Yellen’s speech will be able to bring some short-term trading opportunities, so the pair will keep tracing global market’s trend for any further directional improvements.

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  • #353
  • Apr 11, 2017 5:06am Apr 11, 2017 5:06am

Daily economic digest from Forex.ee

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Tuesday, April 11th

The EUR/USD pair is consolidating its yesterdays minor decline just a few pips below the 1.06 level, as US bulls remained unimpressed by recent J.Yellens speech. Last night, Fed Chairwoman delivered her speech, in which she once again noted, that it will be appropriate to raise rates in near future, but terms of further rate-hikes are highly dependent on economic performances. Moreover, renewed risk-aversion sentiments are providing some support to the common currency, limiting pairs further losses. Now all traders attention is focused on German ZEW Economic Sentiment that is due next ahead of US JOLTs Job Openings, which both will be able to bring short-term impetus on the pair during this trading session.

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  • #354
  • Apr 12, 2017 5:21am Apr 12, 2017 5:21am

Daily economic digest from Forex.ee

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Wednesday, April 12th

The EUR/USD pair came out of its flat corridor, that was witnessed in Asian, and now is navigating in North direction, supported by strong risk aversion sentiments. Broad risk-off moods remain lately as a key driver across the market amid ongoing geopolitical concern, that is fueled by warn of North Korea of a nuclear strike if the US will continue to provoke it and readiness of the US for an additional airstrike if Syria once again uses chemical weapons on civilians. Moreover, the US dollar’s retreat against its main competitors is also collaborating with pair’s bullish momentum this Wednesday. Nothing important is scheduled in data calendar for this trading session, so the major currency pair will continue to get influenced by risk trends during the day ahead.

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  • #355
  • Apr 13, 2017 5:21am Apr 13, 2017 5:21am

Daily economic digest from Forex.ee

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Thursday, April 13th

The EUR/USD pair came out of its brief consolidation phase, easing part of its yesterdays significant gains, as the greenback is attempting to recover some of its positions in early Europe. Yesterday the US currency came under strong selling pressure, following interview with the US president, who said the dollar is too strong, that could hurt the economy. Moreover, D.Trump also added the he is still undecided on reappointment of J.Yellen as the Fed chief. Looking ahead, today the pair will keep trading with upbeat bias, as ongoing risk-off trend, backed by political tensions over North Korea and upcoming French final election round, will continue to underpin the common currency. Besides, the US docket will also be able to bring some volatility on the market, as traders now await for another portion of macroeconomic data, scheduled on NA session.

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  • #356
  • Apr 18, 2017 5:14am Apr 18, 2017 5:14am

Daily economic digest from Forex.ee

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Tuesday, April 18th

The EUR/USD pair remains relatively quiet at the first working day after four-day Easter holidays, trading in 15-pips narrow range of 1.0640-55. Seems that the pair is experiencing lack of momentum this Tuesday on the back of absolutely empty European data calendar. However, renewed risk-off trend, backed by cautious sentiments of RBA Meeting Minutes, and softness of the US dollar are providing some support to the pair lately. Looking ahead, today only the US data bloc, featuring Building Permits and few second tier data releases, will be able to bring some impact to the pair, however, latest headlines from French political field will also be closely watched, as we are getting closer to the first round of presidential election in France, scheduled on Sunday, 23rd.

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  • #357
  • Apr 19, 2017 5:14am Apr 19, 2017 5:14am

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Wednesday, April 19th

Seems that pound’s bulls are feeling exhausted today after yesterday’s huge rally, based on fresh UK PM T.May’s announcement, that forced the GBP/USD pair to refresh its half-year highs just above 1.2900 level, that is almost 4 figures higher than Tuesday’s lows. Yesterday T.May made a statement regarding the potential call for snap elections on June 8th. The market took this announcement as an attempt by the prime minister to consolidate her positions, implying May’s confidence of a win in the election, that could give her a strong mandate to get a good negotiation deal over Brexit. Currently the major is trading around 1.2820 level down from its overnight highs, marked at 1.2858, as the pound corrects lower against its main competitors. Looking ahead, today amid lack of fresh fundamentals the market will stay closely watching for any further developments around the Brexit.

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  • #358
  • Apr 20, 2017 5:18am Apr 20, 2017 5:18am

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Thursday, April 20th

The EUR/USD pair is trading on firm note this Thursday, extending its bullish momentum in European morning after relatively quiet Asia. Pair’s recent bullishness could be mainly attributed to fresh USD selling, as US bulls were unable to retain its yesterday recovered positions. However, further gains seem fragile in wake of growing cautiousness among market’s participants, as we are heading toward main risky event of this week - French elections, that are scheduled on Sunday, where all presidential candidates have almost equal chances to win the election race. Focus now shifts towards the US macro news that are due later in the NA session, which will provide fresh impetus to the pair, while EU data calendar will keep silence during Thursday’s trading session.

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  • #359
  • Apr 21, 2017 5:13am Apr 21, 2017 5:13am

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Friday, April 21st

The EUR/USD pair came out of its brief consolidation phase, seen in Asia, and now is moving in north direction on the back of positive German data. Yesterday the pair was unable to sustain its bullish momentum and fell back to its comfort region, located near 1.07 spot, following positive remarks of US Treasury Secretary Steven Mnuchin, who stated, that upcoming tax reforms will be implemented before the end of this year. However, the pair was able to gain a bullish momentum in early Europe in wake of upbeat results of flash German Manufacturing PMI. Meanwhile, the key risky event of this week for the pair remains Sundays first round of the French presidential election, that will determine pairs further course. Seems that the market has already started to price in E.Macrons win, who represents social liberal political party in France, thereby supporting the common currency. However, the gap between leader of this race (E.Macron) and his nearest opponent (M.Le Pen) remains very tight, so any headlines regarding further developments surrounding French presidential elections will be closely watched for any impact on the pair.

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  • #360
  • Apr 24, 2017 5:23am Apr 24, 2017 5:23am

Daily economic digest from Forex.ee

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Monday, April 24th

The EUR/USD pair opened today with a huge gap, refreshing its half-year tops at the level of 1.0919, following E.Macron’s win at the first French election round with 23.87% of votes, outperforming his main opponent M. Le Pen, which scored 21.75%. However, M.Le Pen’s win in the presidential elections is still a threat to the euro, as it may imply France’s exit from the EU. Now both candidates will meet at the second round, that is scheduled on 7th of May, where expected that E.Macron will take more than 60% of votes, leaving M.Le Pen far behind. Meanwhile, this recent political event has caused huge risk-on wave, that is still gripping the market and forcing the pair to retreat, refreshing its daily minimums almost a cent lower at 1.0821 mark. Moreover, D.Trump’s tax reform plans, due to be announced later this week, have renewed optimism around the dollar, additionally weighing the pair at the start of this week. Now immediate focus shifts toward German Ifo Business Climate Index, that will be able to bring some impetus to the pair, while the US docket will keep silence during this Monday, leaving the pair at the mercy of global market’s trend during NA session.

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