Daily economic digest from Forex.ee
Stay informed of the key economic
events
Monday, October 26th
EUR/USD opened at 1.1005 in Asia and rose to 1.1032 to this moment. Last week, the single currency dropped to 2-month lows amid the speech of M. Draghi who reiterated a possibility of further widening of QE program. This week, the euro zone is publishing the private sector loans figures, M3 money supply, consumer confidence and CPI. Current support and resistance levels are located at 1.0881 and 1.1135.
GBP/USD is changing hands at 1.5319. The cable declined last Friday as US dollar rallied amid PBOC announcing an interest rate cut. Today, the focus of investors is on the British CBI Industrial Trends Orders and BBA Mortgage Approvals. The support and resistance levels are at 1.5176 and 1.5444, respectively.
AUD/USD is higher at 0.7246 amid Chinese rate cut. In the week ahead, investors will be focusing on Wednesday’s monetary policy announcement by the Federal Reserve for fresh indications on the timing of an initial rate hike. Friday’s monetary policy announcement by the Bank of Japan will also be closely watched. The support is seen at 0.7173 and resistance is expected to be met at 0.7347.
NZD/USD rose to 0.6773 this morning and the pair is expected to rise higher as dollar remains weak. Ahead in the day, US is publishing its New Home Sales figures. N.Z. Trade balance numbers are due tomorrow.
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.
