Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

7 September 2015, 10:24
EEAnalytics
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Daily economic digest from Forex.ee
Stay informed of the key economic events

Monday, September 7th     

 

AUD/USD is slowly recovering after decline of last week, when the pair fell below 0.70 to 0.6908 level – the six year lows. Data showed that job advertisements in Australia rose 1.0% last month after 0.5% slip in July. The Non-Farm Payrolls data showed that economy added 173,000 jobs last month, slowing after an upwardly revised 245,000 July figure. AUD/USD is trading at 0.6930 with closest support and resistance levels located at 0.6817 and 0.7001, respectively.

NZD/USD is changing hands at 0.6273. Tomorrow, Manufacturing Sales Volume data is expected from NZ with Chinese trade balance data coming out shortly after. It is expected that NZD will continue falling this week, as the bottom hasn’t been reached yet. The target for the pair is at 0.6095. Resistance can be met at 0.6321.

GBP/USD slipped lower to 1.5188. The pair’s almost uninterrupted decline from the 1.5830 area in late August seems to be over now, so growth is expected this week for this instrument. Ahead in the week, the significant data will be out with UK’s Industrial Production, Manufacturing Production, Trade Balance figures and MPC meeting.

EUR/USD is lower at 1.1137. The pair rebounded on NFP publication, but subsequently fell even lower. Ahead in the week, euro zone GDP is published. On the US side the market expects data on Initial Jobless Claims and PPI.

USD/CAD is continuing its consolidated trade close to 1.3250. In the week ahead, Canadian data is published including Interest Rate decision, Housing Starts, Building Permits, Capacity Utilization rate and new housing price index. According to the expert forecasts, we might see a little bit of upside this week with target at 1.3346.

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