Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

19 May 2016, 12:51
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events

 Thursday, May 19th

 

EUR/USD fell sharply since this Wednesday. Now pair is trading near its three-week lows after massive sell-off on the back of surprisingly hawkish FOMC meeting minutes. Today ahead are ECB monetary policy meeting accounts and Fed Manufacturing Index from Philadelphia with couple of speeches from the Fed officials M. Fischer and W. Dudley scheduled in US data calendar. Currently pair is trading at 1.1220, losing almost cent since yesterday. Support and resistance levels are located at 1.1146 and 1.1350.

 

GBP/USD moved away from two-week highs witnessed yesterday at 1.4635 spot to just below 1.46 level. Yesterday, on the back of the Brexit polls results, which showed that “stay” voted participants, are leading and positive statistics of the labor market, pair broke through resistance levels 1.45 and 1.46, partially maintaining its positions. Today event calendar will deliver UK retail sales report and Philadelphia Fed Manufacturing index are followed by couple of speeches of Fed’s M. Fisher and W. Dudley. Currently the pair is trading at 1.4589 spot, keeping a positive tone, expecting major releases from Britain. Support and resistance levels are located at 1.4314 and 1.4772 spots.

 

USD/JPY found support at 110, as investors are still interested in risky assets that allowed the pair to test new three-week highs near 110.27 this morning. Today, the pair will suffer from bearish pressure as the US currency has strengthened its positions after hawkish minutes of the FOMC. US jobless claims and regional manufacturing data, later followed by speeches of the Fed M. Fisher and W. Dudley, will set up todays tone. Currently the pair is back to the 110.09 spot, near 110 level, with the current support and resistance levels, located at 109.18 and 111.26.

 

USD/CAD keeps it bullish trend eyeing on the key resistance level at 1.31. Dollar bulls are pushing pair upward expanding this week highs, as US currency has strengthened its positions after hawkish FOMC meeting minutes. Also CAD bears are gaining support from oil price corrections. Today pair will stay under the sentiments of crude oil prices with economic events scheduled in US data calendar. Now pair is trading at 1.3063 with todays support and resistance levels located at 1,2929 and 1,3144

 

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