Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

17 May 2016, 12:22
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events

Tuesday, May 17th

 

EUR/USD is still keeping its position above 1.13, trading modestly flat. Due to lack of fundamentals from Euroland, focus will remain on US macro releases. Looking forward, traders will expect trade balance provided by EU and building permits, core CPI and housing starts from US. Currently the pair is trading at 1.1316 spot, staying directionless. Todays support and resistance levels are located at 1.1278 and 1.1362.

 

USD/JPY is trading under bullish pressure this morning, expanding 109 level. Pair caught it bid tone this morning, as risky sentiments makes yen bulls to lose control over the pair, on the back of Nikkei index recovery. Today, traders will focus on building permits, core CPI and housing starts from US and it is worth noting that Japan will release GDP report tomorrow during Asia. The pair continues to expand its highs, trading at 109.41 spot. Todays support and resistance levels for the pair are located at 108.47 and 109.88.

 

GBP/USD is trading under strong bullish pressure breaking through its key barrier at 1.45 on Tuesday. Pound caught strong buying pressure following latest Brexit polls. Today pair is expecting some volatility as strong macro releases are coming from both sides, such as Britain’s CPI and PPI Input with building permits, core CPI and housing starts from US. Now pair is refreshing this week highs above 1.45 level at 1.4519 spot. Todays support and resistance levels for pair are located at 1.4399 and 1.4552

 

AUD/USD performed high jump today from 0.72850 to 0.7366. This upward move occurred after RBA's latest monetary policy meeting dumped expectations of further rate-cuts in the near-term. Earlier in May, the Central Bank surprised markets by lowering its interest rates, what made possible further speculations of a rate-cut in the near-term. The pair also got some positive influence after US Empire State manufacturing index was released this Monday. Now pair is trading at 0.7338 trying to consolidate its gains. Todays support and resistance levels for pair are located at 0.7216 and 1.4552.

  

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