Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

17 June 2016, 12:29
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, June 17th

 

EUR/USD has consolidated recovered position after yesterdays sharp fall. Now the pair is trading in narrow range near 1.1250 area with slight bearish mood. The pair recovered 130 pips on the back of weakened dollars positions as softer US Core CPI data coupled with yesterdays dovish Fed statement continue to weight US currency. Looking ahead, most likely, the pair will follow the market sentiment today as only Building Permits and ECB President M.Draghi Speech will end up this eventful week. At the moment the pair is trading at 1.1249 with todays support and resistance levels at 1.1052 and 1.1382.

 

GBP/USD has reversed part of its overnight gains this morning. The pair was heavy supported yesterday after BoE left its Interest Rate Decision unchanged sending the pair towards 1.43 level. However, after the pair met resistance near this level it dipped to this day low at 1,4222. Now traders will shift their attention toward developments surrounded EU referendum scheduled next Thursday. Britain calendar is data free today so traders will find some cues in US Building Permits for further momentum. At the moment the pair is trading at 1.4233 with todays support and resistance levels located at 1.4058 and 1.4348 spots.

 

USD/CAD is recovering after yesterdays sharp fall from nine-day highs marked at 1.3090. Today the pair is trading with bullish mood as strengthened oil prices with dollars broad based weakness are supporting Canadian currency versus its American neighbor. Today traders will set up their focus on US Building Permits followed by Canadian Core CPI data released during this day. Currently the pair is trading at 1.2924 with todays support and resistance levels at 1.2791 and 1.3174.

 

USD/JPY is trading under bearish pressure this morning. Yesterday the pair reached almost two-year low around 103.50 level as risk aversion sentiment triggered by uncertainty around “Brexit” heavily weighed the pair. The pair recovered part of its losses but still it will be influenced today by sentiments surrounding upcoming referendum. Amid data dry calendar from Japan, traders will focus their attention on the US Building Permits due later this day. Currently the pair is trading at 104.31 level with todays support and resistance levels at 103.19 and 105.69 marks.

   

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