Forex.ee: Daily economic news digest

Daily economic digest from Forex.ee
Stay informed of the key economic events

Tuesday, June 23^rd  

^{EUR/USD was down on Monday despite the clearest indication of Greece going forward in negotiations with its creditors. In Brussels, Greek officials presented a comprehensive proposal, which reportedly included plans to introduce new corporate tax, new wealth tax, raising the nation’s retirement age to 67 and imposing some new increases to VAT. The U.S. Existing Home Sales data also contributed to euro’s decline as report showed better than expected reading of 5.35M as opposed to 5.26M predicted. The German Manufacturing PMI data came out exceeding expectations, which did not notably influence the single currency’s rate. The pair is traded at 1.1248 with support level located near 1.1220 and closest resistance at 1.1375. Ahead in the day, markets are viewing U.S. Core Durable Goods Orders and New Home Sales in the United States.}

^{NZD/USD slumped to its fresh 5year lows ignoring better than expected Chinese Manufacturing PMI data. The weak Kiwi remains under pressure after series of downbeat economic data from New Zealand indicating a possibility of further interest rate cuts. The pair is traded at 0.6858 rising from today’s lows of 0.6835.}

^{AUD/USD was down this morning leaving the Chinese Manufacturing PMI data unconsidered. Worse than expected reading of House Price Index in Australia sent the aussie lower to 0.7694. Subsequently the pair erased the losses reaching the 0.7743 level and fell again to 0.7722.}

^{GBP/USD is heading down for the second consecutive falling below 1.5800 level. In absence of any significant news from the U.K. the market will shift the attention towards the U.S. calendar. The pair is traded at 1.5802 with immediate support at 1.5761 and resistance at 1.5668.}

Your European ECN-broker,

Forex.ee