Forex.ee: Daily economic news digest

Daily economic digest from Forex.ee
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Thursday, October 22^nd   

EUR/USD was lower to trade at 1.1340 amid slightly stronger dollar. Although, the greenback did not show any significant growth ahead of US jobless claims data due this evening. Today, higher volatility degree is expected for EUR as comments from M. Draghi are likely to give indications of how effective the quantitative easing program was. From the US, Existing Home Sales figures are expected. The support and resistance levels are located at 1.1258 and 1.1415.

GBP/USD is changing hands at 1.5451 ahead of UK Retail sales data. Yesterday, Public Sector Net Borrowing figures came out in green colour at 8.63B verus 9.40B expected. The retail sales figures are expected to show the slowest growth in Q3 sicne Q4 2013. However, the outlook for private consumption remains positive because of increasing employment and positive wage growth. The pair is likely to find support at 1.5304, while resistance is seen at 1.5525.

USD/CAD is changing hands at 1.3122 after BoC left the interest rate at its previous level of 0.50%. Ahead of the day, Canada will publish the Core Retail sales figures. BoC stated that Canadian economy will grow just 2% in 2016 and 2.5% in 2017, down from previous forecasts of 2.3% and 2.6%. Today, pair’s moves might get highly affected by the US data. The support is seen at 1.3010, while resistance is located at 1.3245.

AUD/USD is moving down amid slightly stronger dollar. In Australia, the NAB quarterly business confidence survey fell to flat from plus-4 in the previous quarter, while conditions gained to plus-11 from plus-5. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.02% at 95.06. The support and resistance levels are seen at 0.7133 and 0.7280, respectively.

Your European ECN-broker,

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