Daily economic digest from Forex.ee
Stay informed of the key economic
events
Friday, October 30th
USD/JPY was stronger on Friday as the Bank of Japan held monetary policy steady as expected. The BoJ decided by an 8 to 1 vote to leave the bank's policy target unchanged, as largely expected, indicating policymakers are confident that the economy will rebound in the coming months and that the underlying trend of prices continues to rise. USD/JPY traded at 120.82, down 0.26%, after the BoJ and household data and consumer prices and unemployment. Current support and resistance levels are seen at 120.25 and 122.08, respectively.
EUR/USD rose considerably on Thursday erasing some of its losses from a massive sell-off one session earlier, as currency traders continued to digest hawkish views from the Federal Reserve on the increasing likelihood of a December interest rate hike. The currency pair traded in a broad range between 1.0897 and 1.1095, before settling at 1.0978. Ahead in the day, euro zone is publishing its CPI figures as well as unemployment rate. The support and resistance levels are located at 1.0885 and 1.1079.
USD/CAD was almost unchanged on Thursday after the release of disappointing U.S. economic growth data, while expectations for a U.S. rate hike before the end of the year lent support to the greenback. USD/CAD hit 1.3238 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3199. Ahead in the day, Canada is releasing its GDP and Budget Balance data. The support is seen at 1.3078, while resistance is likely to be met at 1.3230.
The best conditions for making a start on STP only at Forex.ee! Register an account now
and feel the difference from the first trade!
Your European ECN-broker,
Forex.ee.
