Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

22 June 2016, 12:27
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Wednesday, June 22nd

 

GBP/USD remains nervous last days awaiting outcome of UK referendum despite the latest polls results showing favor in “Remain” camp. The British pound remains strong against its counterpart as the latest polls are showing slight overweigh in “Remain” camp, thus decreasing chances of “Brexit” scenario. Today all data will have limited influence on the pair as upcoming UK referendum is taking center stage. At the moment the pair is hovering at 1.4690 level with todays approximate support and resistance levels located at 1.4517 and 1.4851.

 

EUR/USD dropped sharply last Tuesday as traders took a breath before tomorrows big event. The pair has bounced-off from todays minimum printed at 1.1237 spot this morning as US currency is losing the ground across the board. Amid of fading “Brexit” concerns the pair will get major support this day as market participants hope that Britain will vote to stay in the European Union, however traders also will take into account the upcoming Existing Home Sales from US followed by another Fed J.Yellen’s testimony scheduled later this day. At the moment the pair is trading at 1.1206 with todays support and resistance level at 1.1169 and 1.1388.

 

USD/CAD recovered part of its loses on the back of intense bid tone in USD witnessed yesterday. However, the oil price recovery pushed the pair back above 1.28 level this morning. Today traders will set up their focus on Canadian Retail Sales followed by US Existing Home Sales and weekly data of Crude Oil Inventories. Also market participants will find some clues for further momentum in Fed Chair J.Yellen’s testimony due this day. Currently the pair is trading at 1.2786 with todays support and resistance levels at 1.2737 and 1.2868.

 

USD/JPY has recovered from last day minimum witnessed at 103.59 on the back Japanese stock market recovery amid of easing “Brexit” fears. However, the pairs recovery seems to be limited on the back of broad based dollars weakness as Yellen’s cautious testimony continues to weigh US currency. Today traders will await for US Existing Home Sales and Fed Chair J.Yellen’s second testimony, however the upcoming UK referendum will set up global markets sentiment. Currently the pair is trading at 104.38 with todays support and resistance levels at 102.96 and 105.99

 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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