Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

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

Stay informed of the key economic events


Monday, June 20th

 

GBP/USD jumped for more than 100 pips this morning. Today pound bulls are pushing the pair in the north direction as the latest “Brexit” polls results are showing that sentiments surrounded upcoming referendum are changing winds. Now “Remain” voted participants are taking lead sending the pair to nine-day high witnessed today at 1.4623 spot. Amid data dry calendar markets will continue to closely watch for developments surrounding “Brexit” which is scheduled on Thursday, June 23rd. At the moment the pair is easing its positions and trading at 1.4576 with todays support and resistance levels located at 1.4530 and 1.4690.

 

USD/CAD is losing ground as CAD bulls are gaining major support on the back of higher oil prices. Moreover, broadly increased selling pressure on USD, particularly in crosses with EUR and GPB, is dragging the pair in south direction. Meanwhile, in absence of any major market releases today the pair will stay influenced by oil price changes. Currently the pair is trading at 1.2844, slightly recovering from todays lows. Todays support and resistance levels are located at 1.2760 and 1.3028.

 

EUR/USD is trading sharply higher today breaking through key resistance level of 1.13 as “Remain” voted participants has taken an advantage in “Brexit” polls results. However, the pair is losing its upside momentum and is trading slightly lower ignoring positive German PPI data released this morning. The pair will remain under influence of “Brexit” developments while the speech of Fed’s member N.Kashkari is scheduled later in the NA session. At the moment the pair is trading at 1.1338 down from todays high marked at 1.1382 spot with todays support and resistance located at 1,1221 and 1.1417.

 

USD/CHF is trading in narrow range of 15 pips between 0.9580 and 0.9595 levels with uncertain direction this morning as both bulls and bears are fighting for control over the pair. On the one hand, increased risk-on sentiment is weighing Swiss franc status of safe-haven, on the other broadly based dollars sell-off is pushing the pair to the south. Nothing worth is mentioned in data calendar for today so the pair will follow market sentiments. At the moment the pair is trading at 0.9585 with todays support and resistance levels located at 0.9559 and 0.9663

 

Dear traders Forex.ee is highly recommending You to set up Your risk management taking into account the upcoming UK EU referendum scheduled this Thursday (23nd June) with expected high volatility before and after it!

   

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Your European ECN-broker,

Forex.ee

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