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Wednesday, July 13th
GBP/USD
Current price: 1,3230 (-0,1%)
Session range: Open 1,3245; High 1,3336; Low 1.3220
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2848, R. 1.3496
Main drivers: Speech of FOMC Member P.Harker, Speech of FOMC Member R.Kaplan, US Crude Oil Inventories
Overview: The pair is still keeping its upward momentum, gaining more than 4 cents since lows witnessed near the level of 1.2800. The pair has been supported after BoE M.Carney added optimism in the UK political arena with his Financial Stability Report yesterday. Furthermore, the market also has gained some positive note after Theresa May was appointed as new PM of Britain. However, the traders will keep their focus on the main event of this week – UK’s Interest Rate Decision scheduled for tomorrow.
USD/CAD
Current price: 1.3060 (0.1%)
Session range: Open 1.3041; High 1.3085; Low 1.3034
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 1.2898; R. 1.3207
Main drivers: BoC Monetary Policy Report, Canadian Interest Rate Decision, US Crude Oil Inventories, Speech of BoC Gov S.Poloz
Overview: Today the pair is experiencing pressure from both sides as broad based US dollars weakness is sending the major lower, however, softer oil prices are activating Loonie bears. Now traders will await for BoC Monetary Policy Report and Interest Rate Decision for further momentum.
USD/JPY
Current price: 104.35 (-0.33%)
Session range: Open 104.66; High 104.87; Low 103.94
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: High
Support and resistance levels: S. 101.50; R. 106.60
Main drivers: Chinese Trade Balance, Speech of FOMC Member P.Harker, Speech of FOMC Member R.Kaplan
Overview: Yen bears took a breath this morning leaving the pair wobbling just above 104 level. The pair rose sharply from sub-100 levels since Monday with the main trigger - expectations of additional fiscal stimulus from Japanese government. However, the pair slowed down this morning as traders are staying cautious in front of upcoming Chinese Trade Balance boosting the yen as safe-haven currency.
EUR/USD
Current price: 1.1060 (0.0%)
Session range: Open 1.1060; High 1.1071; Low 1.1042
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.1005; R. 1.1155
Main drivers: EU Industrial Production , Speech of FOMC Member P.Harker, Speech of FOMC Member R.Kaplan
Overview: The pair has lost its positions after two days of consecutive gains with the highest point at 1.1130 mainly driven by lowered risk appetite. In absence of fundamental drivers, the pair will stay influenced by global market sentiments during this day.
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