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Monday, July 25th
GBP/USD
Current price: 1.3146 (0.0%)
Session range: Open 1.3143 High 1.3150 Low 1.3110
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2947 R.1.3369
Main drivers: CBI Industrial Trends Orders in UK
Overview: The pair is recovering from two-cent dip after Friday’s pullback to 1.3080 low triggered by last week poor figure from UK’s Services PMI coupled with strengthened dollar across the board. However, dollar seems to be weaker today as investors are performing corrective actions allowing pound to take advantage at the beginning of this week.
EUR/USD
Current price: 1.0965 (-0.1%)
Session range: Open 1.0971 High 1.0980 Low 1.0951
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.0905 R. 1.1075
Main drivers: German Ifo Business Climate Index
Overview: The pair is trading modestly flat at the beginning of the week keeping its level at the lowest point since Brexit vote. The pair has fallen sharply on the back of upbeat preliminary US Manufacturing PMI released last Friday. Now EUR/USD awaits for upcoming German IFO release for further momentum.
USD/JPY
Current price: 106.25 (0.0%)
Session range: Open 106.20 High 106.74 Low 106.01
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 105.17 R. 106.83
Main drivers: None
Overview: Currently the pair is retreating from daily tops on the back of positive Japanese trade data released this morning. Moreover, fresh wave of risk aversion witnessed during Asia is pressuring the yen as safe-haven currency. Nothing important is scheduled in data calendar for the pair so today USD/JPY will gather further direction from global markets sentiment.
USD/CAD
Current price: 1.3153 (0.2%)
Session range: Open 1.3126 High 1.3156 Low 1.3123
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.2991 R 1.3253
Main drivers: None
Overview: Canadian dollar has managed to perform moderate recovery against its US neighbor from lows last seen in May. Last Friday, the pair surged to level of 1.3185 despite better-then-expected Canadian Retail sales data and CPI. Moreover, the pair received additional bearish pressure from softer oil price weighing CAD as commodity-linked currency. In addition, positive preliminary US Manufacturing PMI released at the end of the last week also pushed US currency to its highs.
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