Forex.ee: Daily economic news digest

Daily economic digest from Forex.ee
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Tuesday, October 13^th  

AUD/USD was lower in Asia as Chinese Trade Balance data was out mixed. The export figures came out in green light with 3.7% contraction, while imports declined more than expected by 20.4% totaling the balance to 60.34B. Meanwhile NAB Business Confidence index was beat the expectations with this month’s reading at 5. The pair is currently trading at 0.7320 after reaching one-and-half month peak at 0.7381 in course of Monday trade. Current support and resistance levels are located at 0.7297 and 0.7450, respectively.

EUR/USD continues climbing up as Fed rate hike remains in focus. The currency pair traded in a broad range between 1.1268 and 1.1397 before settling at its current 1.1373. Yesterday, Atlanta Fed president Dennis Lockhart indicated that FOMC will have more economic data at its disposal in December to make the decision versus this month’s meeting. There have been other comments coming from Fed, many of which also indicated the postpone in the rate hike is very likely. Later in the day, Germany publishes its ZEW Economic Sentiment. Support is seen at 1.1275, while resistance can be found at 1.1436.

GBP/USD is changing hands at 1.5375 before British CPI publication. Tomorrow will be another important day for the price action as Average Earnings and Claimant Count Change are expected. The cable returned to its previous consolidation in between 1.5451 and 1.5349 and mid-term expectations are mostly bullish, partially in view of weaker dollar. Current support level is located at 1.5254 with resistance seen at 1.5471.

NZD/USD was weaker this morning as Chinese Trade Balance data was mixed. The pair reached as high as 0.6739 before declining to 0.6695 today. N.Z. Food Price Index came out in line with expectations at -0.5%. The forecasts are mostly bullish with support and resistance at 0.6663 and 0.6800, respectively.

Your European ECN-broker,

Forex.ee.