Daily economic digest from Forex.ee
Stay informed of the key economic
events
Friday, September 18th
USD/CAD was higher yesterday after release of upbeat data on the US jobless claims and housing. While analysts expected that the number of individuals filing for initial jobless claims would stay flat, the numbers showed a decrease by 11,000. The number of building permits increased 3.5%, beating the expectations by 0.4%. Although, the pair slipped lower as the Fed left interest rates unchanged yesterday. Ahead in the day, investors are viewing Canadian data on Core CPI. The pair is trading at 1.3159 with support seen right below at 1.3125 and resistance at 1.3256.
USD/CHF was down on Thursday amid weaker dollar and SNB leaving interest rates at their current. SNB stated that Swiss franc is still significantly overvalued, despite slight depreciation, which has been putting significant brake on the Swiss economy since mid-January. The pair eased even more when as Fed left the interest rates at their current level between zero and 0.25%. It was noted that recent global economic and financial developments may restrain economic activity and are likely to put pressure on inflation. J. Yellen said that the bank will begin monetary policy normalization when it sees further improvements in the labor market. The pair is changing hands at 0.9615 easing from its one-month highs of 0.9823.
GBP/USD was little changed after retail sales data announcement. The pair started yesterday’s trades at 1.5488 and managed to move up to 1.5627 level after release of the news from US. Currently changing hands at 1.5575, the pair is likely to remain flat without any significant news releases. Overall, the support is seen at the bottom consolidation border of 1.5425 and resistance at 1.5690.
EUR/USD awaits the publication of euro zone current account. The pair was moving down since opening trades at 1.1433 in Asia. Later in the day, we might see some more downside at 1.1385. Next week, Manufacturing PMI data is expected from Europe, while the US side will provide GDP figures, as well as new home sales and core durable goods orders numbers.
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.
