Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

15 July 2016, 12:40
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Friday, July 15th

 

GBP/USD

 

Current price:                                                   1.3406 (0.5%)

Session range:                                                 Open 1.3343 High 1.3482 Low 1.3324    

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.2939 R. 1.3676

Main drivers:                                                    Speech of BoE Gov M.Carney, US CPI, US Retail Sales.

Overview:                                                         The GBP/USD tested two-week high this morning winged by BoE Interest Rate Decision to leave a rate in flat, thereby squashing markets expectations of a rate cut in July. Also, part of gains of the cable could be related to improved risk appetite fueled by better-then-expected Chinese macro data released this morning.

 

USD/JPY

 

Current price:                                                   105.87 (0.5%)

Session range:                                                 Open 105.34 High 106.33 Low 105.04    

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 103.11 R. 107.07

Main drivers:                                                    US CPI, US Retail Sales.

Overview:                                                         The pair is still moving in north direction flirting with fresh this month highs in 106.30 area mainly driven by better risk sentiments. However, sharp pull back during this day could be related to profit-taking actions performed by market participants.

 

EUR/USD

 

Current price:                                                   1.1147 (0.3%)

Session range:                                                 Open 1.1119 High 1.1150 Low 1.1101

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.1043 R. 1.1204

Main drivers:                                                    EU CPI, US CPI, US Retail Sales.

Overview:                                                         The pair has been keeping its bullish trend since Monday on the back of prevailing risk-on sentiment across the market. Yesterday the pair also responded on BoE decision to leave a rate as it was spiking the level 1.1170 last seen seven days ago. However, the spike faded quickly sending the pair to its normal range near 1.1100 level.

 

AUD/USD

 

Current price:                                                   0.7652 (0.3%)

Session range:                                                 Open 0.7631 High 0.7678 Low 0.7607

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.7563 R. 0.7687

Main drivers:                                                    US CPI, US Retail Sales.

Overview:                                                         The pair spiked its over than two-month high at 0.7676 level in response to the upbeat Chinese data. However, the pair has lost its upside momentum and now is trading in flat range near 0.7630 as traders are awaiting for major data releases from US.

 

    

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