Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

10 June 2016, 11:53
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, June 10th

 

EUR/USD remains under strong bearish pressure as dollar is strengthening its positions and oil price is taking its corrective moves. The pair lost more than cent down from yesterdays multi-week high witnessed at 1.1415 spot to level of 1.13. However the pair got minor support this morning as German CPI showed as expected flat figure. Nothing important is scheduled in Euroland data calendar with Michigan Consumer Sentiment and Federal Budget Balance form US coming later this day. Currently the pair is trading at 1.1302 with todays support and resistance levels at 1.1235 and 1.1455.

 

NZD/USD has reversed part of gained positions and now is retreating from yearly tops witnessed at 0.7150 after RBNZ has left its interest rates on hold with hawkish comments after. The pair continues its downslide as softer oil prices coupled with strengthening dollars positions after four-day of consecutive down move are pushing the pair in the south direction. Today in light data calendar traders will find only secondary data such as prelim Michigan Consumer Sentiment and Federal Budget Balance of US. At the moment the pair is trading at 0.7099, hovering around 0.71 level for the last couple of hours. Todays support and resistance for the pair are located at 0.6929 and 0.7169.

 

USD/CAD retreated from its monthly lows marked at the 1.2655 level in the middle of this week on the back of softer oil prices and incipient bid tone around the US currency. However, the pair is still trading above the level of 1.27 as important Canadian releases are getting closer. Today the center stage will take Employment Change data from Canada followed by Michigan Consumer Sentiment and Federal Budget Balance form US. At the moment the pair is trading at 1.2733 with todays support at 1.2623 and resistance at 1.2815 respectively.

 

GBP/USD is performing downslide as pound is following risk-on sentiment this Friday. Moreover, the pair is staying under pressure as uncertainty surrounded upcoming UK referendum and awakening of the dollar after last Fridays disappointments are forcing bears to take a lead. With light data calendar the pair will be influenced by risk sentiment today with coming ahead Michigan Consumer Sentiment and Federal Budget Balance form US scheduled later this day. At the moment the pair is trading at 1.4437 with todays approximate support and resistance levels located at 1.4395 and 1.4555

 

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