Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

23 May 2016, 13:40
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events

Monday, May 23rd  

 

USD/JPY has fallen from Fridays highs, marked at 110.58 level and now is hovering in the upper half of 109 level. The pair failed to hold on above 110 level witnessed at the end of last week as risk-off sentiments dragged it back to 109 area. With light economic calendar, investors will focus today on Fed members J. Bullard speech later during New York session that could provide some further directions for the pair. Meanwhile, risk sentiment across equity markets will also influence pairs direction. Currently the pair is trading at 109.79 spot, meeting resistance as getting closer to 110 level. The approximate support and resistance levels are located at 109.43 and 110.91 spots.


GBP/USD is in a positive mood this morning, as dollar is losing its positions across the board. However, the situation with the pound remains unclear, as recent Brexit polls are showing that “Remain” voted participants scored for 44% versus their “leave” opponents that claimed 40% of votes. Today, the pair will remain under the influence of risk sentiments, as only speeches by Fed members J. Bullard and J. Williams are scheduled in data calendar. Currently the pair is trading at 1.4498 spot with todays support and resistance levels located at 1.4393 and 1.4595.

 

USD/CAD has rebounded from 1.31, staying in the recent multi-week highs area. Today the pair is showing slightly negative mood amidst a softer tone in crude oil prices and bears taking control over the dollar. In the light data calendar, traders will find only speeches of FOMC members J. Bullard and J. Williams scheduled later this today. At the moment pair is trading at 1.3125, with todays support and resistance levels located at 1.3030 and 1.3200.

 

EUR/USD is gaining some recovery as greenback is losing ground across the board. Euro met strong bearish pressure at the beginning of Europe session on the back of the negative preliminary manufacturing PMI of the Euroland, showing that german manufactory sector develops slightly faster than in other Euro regions. Now traders will focus on speeches by Fed members J. Bullard and J. Williams scheduled ahead. At the moment pair is trading at 1.1208 with a sharp fall from 1.1235 level. Todays support and resistant levels are located at 1,1182 and 1,1282 spots. 

 

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