Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

27 June 2016, 12:26
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, June 27th

 

GBP/USD continues losing a grip at the beginning of this week, keeping its range near level of 1.34. The pair is extending its drop as traders are still digesting the political and economic impact of UK referendums results. Today all attention will be focused on meeting between A.Merkel, M.Renzi, F.Hollande and D.Tusk where EU leaders will discuss Article 50. At the moment the pair is trading at 1.3444 with todays support and resistance levels located at 1.3304 and 1.3556.

 

EUR/USD is keeping its range near mid-1.10 level. The shared currency is still weak against its counterpart as the effect of UK leaving the European Union continues to influence the market. Nothing important scheduled in data calendar for today, so the pair will gain further momentum from global market sentiment. Currently the pair is trading at 1.1049 with todays support and resistance levels at 1.0975 and 1.1107.

 

USD/JPY is trading in bearish trend, stepping under the level of 102 this morning. Today the pair will be pressured as uncertainty after “Brexit” decision is still making traders to seek for safe-haven in Japanese currency. Moreover, the yen remains in demand on the back of fading expectations of this year Fed rate hike. Today in data calendar traders will find only secondary releases from US that most likely will have limited influence on the pair. At the moment the pair is trading at 101.90 with todays support and resistance levels located at 101.22 and 102.84.

 

AUD/USD dropped this morning as Chinese central bank devalued Yuan suddenly sending the pair under 0.74 level. However, the pair recovered part of its positions lost during this morning, however the pair still is trading with strong bearish pressure as dust around UK referendum has not settled down yet setting up risk-aversion sentiment making AUD to lose the ground against its American counterpart. Amid data dry calendar, the pair will follow global market sentiment later this day. At the moment the pair is trading at 0.7428 with todays support and resistance levels at 0.7395 and 0.7463.

   

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