Daily economic digest from Forex.ee
Stay informed of the key economic events
Friday, April 22th
USD/JPY pair popped higher from near daily low to hit fresh almost two-week tops in late Asia, after reports hit the wires that BOJ officials are said to discuss lending to banks at negative rate. The Asian markets also found support from the BOJ news, sending the Nikkei into the green territory, which further supports the upside rally in the major. Meanwhile, pair will stay under influence of BOJ headlines and US will release secondary reports later. Currently the pair is trading around todays high at 110.32, with support and resistance levels at 108.89 and 111.32.
EUR/USD is posting meager gains ahead of the opening in the Europe on Friday, advancing after two consecutive daily pullbacks and recovering some pips following yesterday’s rejection from post-M. Draghi peaks in the 1.14 neighborhood. Currently EUR/USD consolidated near the 1.1300 spot after yesterday's sharp fall. While market participants continue to digest yesterday’s ECB meeting and M. Draghi’s words, focus will return to the data space in Euroland, where the preliminary manufacturing and services PMIs are due later. Now the pair is trading in a narrow corridor between the levels 1.1308 and 1.1284, at 1.1294. Support and resistance are located at 1.1190 and 1.1369.
GBP/USD has managed to recover from yesterday's lows and now is gaining some strength. With Brexit continuing to grab headlines and with no major economic releases scheduled during the course of the day, traders are unlikely to take any positional bets on the pair. This might eventually lead to range-bound movement between 1.4400-1.4300, 100-pip band. At the moment pair trades with loses influenced by European stocks at 1.4332 with its todays approximate support and resistance levels at 1.4205 and 1.4417.
USD/CAD is posting moderate gains during the European morning. Pair is advancing for the second straight session at the end of the week in spite of the better tone surrounding crude oil prices. However, the ongoing strong recovery of the greenback seems to be offsetting any CAD bullish attempt, all ahead US advanced manufacturing PMI gauged by Markit and the more relevant Canadian inflation figures and retail sales. Now pair is trading at 1.2740 bounced from dailys low at 1.2691. Support and resistance levels are located at 1.2650 and 1.2837.
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.
