Forex.ee: Daily economic news digest

Daily economic digest from Forex.ee
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Tuesday, October 29^th     

EUR/USD fell sharply on Wednesday slumping to a fresh two-month low, after the Federal Open Market Committee held short-term interest rates at its current near-zero during its October monetary policy meeting. Economic data is expected from euro zone later in the day with Business Climate figures, Consumer Inflation Expectation and services sentiment. The support and resistance levels are located at 1.0756 and 1.1065, respectively.

GBP/USD is changing hands at 1.5260 after yesterday’s fall stipulated by the FOMC comments and stronger than expected data from US as Goods Trade Balance deficit contracted more than anticipated and Crude Oil Inventories also came out in green colour. Ahead in the day, the cable will be affected by the block of British news including mortgage approvals data, let lending to individuals and M4 money supply. Nationwide HPI was higher than last month by 0.1% while the index was not expected to change its reading. Current support and resistance levels are located at 1.5178 and 1.5356, respectively.

USD/CAD slid lower on Wednesday, pulling away from a one-month high as sentiment on the greenback was vulnerable ahead of the Federal Reserve's monthly policy statement. Today, the loonie is going up as investors await the Canadian IPPI and RMPI data. The pair is changing hands at 1.3208 with support seen at 1.3123 and resistance at 1.3286.

NZD/USD is changing hands at 0.6664 and expectations are mostly bearish for today. Today, the pair will be following the moves of the US dollar, which is likely to be affected by the US GDP figures and Pending Home Sales data. Tomorrow, New Zealand publishes its Building Consents numbers and ANZ Business Confidence index. The support might be found at 0.6546 while resistance is located at 0.6732.

Your European ECN-broker,

Forex.ee.