Daily economic digest from Forex.ee Stay informed of the key economic events Tuesday, June 7th AUD/USD is extending its rapid growth for the second day this Tuesday. The pair tested five-week high at 0.7431 on the back of RBA’s decision to leave rate unchanged at 1...
GBP/USD Forecast: Short Term Bullish The GBP/USD pair filled the weekly opening gap, in a strange early move, as the pair jumped roughly 200 pips mid Asian session, soaring up to 1.4657 and retreating afterwards to the 1.4500 region, only to resume its advance with the European opening...
FTSE On Course for Another Green Day The FTSE 100 is trading in positive territory once more this morning, with the index moving to its highest level in over a month and looking on track to post another day of gains...
US Dollar Depressed Below 94.00 The greenback, when tracked by the US Dollar Index, remains on a bearish bias today, currently extending the break below the key 94.00 support...
EUR/USD Forecast: Yellen's Vague Comments Weigh on the USD The EUR/USD pair trades near its recent highs, but still below the 1.1400 level, despite broad dollar's weakness...
USD/CAD Faces Double Whammy, Hits Fresh 5-Week Lows The USD/CAD pair came under aggressive selling pressure post-European open, now hovering within a striking distance of multi-week lows. USD/CAD trades below all major DMAs Currently, the USD/CAD pair trades -0.35% at 1...
USD/JPY Points South Near 106.00 – UOB A test of the 106.00 neighbourhood in USD/JPY still remains on the cards, according to the research team at UOB Group. Key Quotes “Expectation for further USD weakness was wrong as we witnessed a strong rebound in overnight trading (high of 107.65...
USD/JPY Rallies Could Struggle Around 108.25/90 – Commerzbank Bullish attempts in USD/JPY could find strong resistance in the 108.25/90 band, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “USD/JPY has seen a minor erosion of 106.80 – the 78.6% retracement...
EUR/NOK Weaker, Challenges 3-Week Lows The Norwegian krone is sharply up vs. its European peer on Tuesday, relegating EUR/NOK to the area of multi-day lows around 9.2400...
EUR/USD Hits New Highs on EMU GDP, 1.1400 Eyed The upward revision to the Q1 Eurozone GDP helped improve the bid tone around the shared currency, driving EUR/USD above 1.1370 region. EUR/USD: 1.1400 on sight? Currently, EUR/USD trades +0.16% higher at fresh daily highs of 1...
Gold Pulls-Back to $1241, 50-DMA Caps Upside Gold lost some steam on Tuesday and is seen pulling-back from 50-day SMA resistance to currently trade around $1242 level as investors seem to take some profits off the table after Friday's big up-surge...
EUR/JPY Firmer, Hovers Around Hourly 200-SMA The EUR/JPY cross extends gains into a second straight session today, receiving double booster shot amid broad based US dollar weakness. EUR/JPY eases-off highs The EUR/JPY pair climbs +0.35% to 122...
GBP/USD Firmer, Advances to 1.4580 The sterling is trading on a firm note on Tuesday, now lifting GBP/USD to the area of 1.4580. GBP/USD up on USD selling Despite the pair has quickly shrugged off the earlier spike beyond the 1...
Oil Turns Positive, Inching Closer to $50.00 Mark After an initial pull-back to $49.42, WTI crude oil prices regained buying interest at session low level and lifted the commodity back above multi-month high daily closing level of $49.70...
NZD/USD Recovers to 0.6950 as Oil Turns Positive The recovery in NZD/USD from below 0.69 handle gained further traction post-European open, as risk-on trades intensified amid rebounding European stocks and oil prices. NZD/USD trades above all major DMAs Currently, the NZD/USD pair rises +0...
GBP/USD Neutral, 1.4330 Still a Chance – UOB Analysts at UOB Group remain neutral on GBP/USD, although there is still room for a test of the 1.4330 area...
USD/CHF Could Test the 0.9660 Area – Commerzbank In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a visit to the 0.9660 area. Key Quotes “USD/CHF has maintained downside pressure and has sold off to the 50% retracement at .9700”...
EUR/USD Climbs to Session High Level of 1.1370 ahead of Euro-Zone GDP Heading into the release of final print of the composite Euro-zone GDP for Q1 2016, the shared currency seems to have gained traction against the US counterpart with the EUR/USD pair testing session high level of .1370...
GBP/AUD: Pound Under Pressure Short Term - Westpac Sean Callow, Research Analyst at Westpac, suggests that the slide in AUD against GBP from late April to late May reflected both the RBA rate cut and a reduced risk premium on sterling as polls looked more promising for the UK to vote to stay in t...
