Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

6 June 2016, 12:34
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, June 6th  

 

GBP/USD has dropped sharply this morning, testing new three-week low at 1.4353 spot. Cable lost all its positions, gained last Friday, as NFP showed unexpectedly low figures, making possible for the pair to grow to 1.4582 level. Now pound is trading below its key resistance level 1.44 unable to break through it as the latest Brexit polls results showed that “leave” voted participants are taking a lead. Today traders will await for a fresh impute from Fed Chair Yellen’s speech scheduled later this day. At the moment the pair is trading at 1.4385 with todays approximate support and resistance levels at 1.4314 and 1.4680 spots.

 

EUR/USD is trading slightly lower today as the pair is gaining some influence from GBP/USD sharp fall with lower than expected German Factory Orders. The pair managed to jump from two-month lows to three-week high located at 1.1366 spot on the back of disappointing NFP data last Friday. Today traders attention will be focused on Fed Chair J.Yellens speech, expected that despite the weak employment data she will keep hawkish mood during her speech. Currently the pair is trading at 1.1338, with its support and resistance levels at 1.1210 and 1.1447.

 

USD/CHF is trading modestly flat this morning, in 10 pip narrow range near 0.9770 level. The pair dropped sharply last Friday breaking through its key resistance level at 0.98 on the back of disappointing NFP. Today market participants will await for the Fed Chair J.Yellens speech. Also the pair will gain some influence from broad-based dollars recovery today. At the moment the pair is trading at 0.9700 level with todays support and resistance levels located at 0.9698 and 0.9865 spots.

 

USD/JPY dropped to nearly month low located at 106.37 last Friday, as US job growth showed sharp slowdown. Now the pair has managed to recover part of its positions breaking through 107 resistance. Today market participants will look forward to Fed Chair J.Yellens comments, ahead in New York session. At the moment the pair is trading at 107.20 spot with todays support and resistance levels located at 105.64 and 108.27.

 

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