Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

21 June 2016, 12:23
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Tuesday, June 21st

 

GBP/USD has broken through key resistance level of 1.47 this morning and now is testing three-week highs over this level. Today the pair is still staying under bullish pressure as the latest “Brexit” polls results are showing slight overweight in “Remain” voted camp. Meanwhile, the main event of this week is coming closer bringing nervousness amid traders causing markets to experience some volatility last days. Looking ahead, today traders will closely watch for developments surrounding upcoming referendum while UK will release CBI Industrial Trends Orders followed by Fed J.Yellen’s testimony. At the moment the pair is trading at 1.4701 level with todays support and resistance levels located at 1,4530 and 1,4889.

 

USD/JPY is trading under bullish pressure as risk-on sentiments are prevailing over the market this morning. Moreover, earlier this Tuesday the pair once again spiked to this year low at 103.59 spot, but spike faded quickly as dovish comments of Japanese PM Sh.Abe made after latest monetary policy meeting minutes has forced the pair to take moves in north direction. Today in data calendar traders will find only the Fed J.Yellen’s testimony, while new “Brexit” headlines will continue to drive global markets sentiment. At the moment the pair is trading at 104.42 with todays support and resistance levels located at 103.07 and 104.92.

 

EUR/USD is trading in north direction, after finding decent support at 1.13 level on the back of changing risk sentiment. However, the main driver of markets global sentiment remains upcoming UK referendum. Today, next in focus for the major remains German ZEW Survey followed by the speech of President M.Draghi and J.Yellen’s testimony. Currently the pair is trading at 1.1346 with todays support and resistance levels at 1,1240 and 1,1406.

 

USD/CAD continues its downslide for the fourth day in a row. Today commodity-linked Canadian currency continues to gain support from higher oil prices. Furthermore, the pair is keeping its downside direction as US dollar remains depressed this Tuesday. Today the pair will stay mostly under influence of oil price changes with Fed J.Yellen’s testimony scheduled later this day. Currently the pair is trading at 1.2779 with todays support and resistance levels at 1.2725 and 1.2897.

 

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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