Daily economic digest from Forex.ee
Stay informed of the key economic
events
Wednesday, July 8th
USD/JPY is broadly lower after positive data from Japan contributed to the strengthening of yen. The Japanese adjusted current account was 1.64T as opposed to 1.38T expected. The current account n.s.a. in May was 1.881T exceeding the expectations by 0.339T. The bank lending rose 2.5% in June – a slight dip from 2.6% in May. The yen is below 122.00 at 121.53.
EUR/USD was heading down in Asia, but later spiked up to 1.1024. Greece has just five days to submit a full package of reforms to its creditors, otherwise opposing bankruptcy. The next Eurogroup meeting is arranged for Saturday.
The U.S. dollar index was up 0.05% at 96.93.
USD/CAD is still moving up after yesterday’s volatile trade in the late afternoon amid trade balance data from U.S. and Canada. The American trade deficit widened less than expected, while Canadian data was much worse with 3.34B trade deficit against expectations of 2.50B. The pair is quoted at 1.2747.
NZD/USD is still in the red colour at 0.6645 while AUD/USD was considerably lower at 0.7383.
GBP/USD is also on the bearish trend after yesterday’s weak Manufacturing Production data despite Halifax Price index beating expectations. The cable is quoted at 1.5412 with support and resistance level located at 1.5263 and 1.5537, respectively.
Ahead in the day, investors are viewing the Canadian Building permits, and FOMC Meeting Minutes.
Interested in getting unparalleled offer? Register an ECN account at Forex.ee and get $1 commission per lot until the end of summer.
Your European ECN-broker,
Forex.ee
