Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

18 July 2016, 12:39
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events


Monday, July 18th  

 

EUR/USD

 

Current price:                                                   1.1057 (0.2%)

Session range:                                                 Open 1.1047; High 1.1073; Low 1.1044

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.1031 R. 1.1070      

Main drivers:                                                    None

Overview:                                                         The pair is losing its upside momentum consolidating its minor recovery from this day low near 1.1044 area after failed coup attempt in Turkey over the weekend. However, the strong Fridays US data is still weighing the pair limiting its recovery. Due to data light calendar today the pair will follow risk sentiment to gain further direction.

 

GBP/USD

 

Current price:                                                   1.3268 (0.6%)

Session range:                                                 Open 1.3186; High 1.3291; Low 1. 3183

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.3150 R.1.3312       

Main drivers:                                                    None

Overview:                                                         The pound has recovered the smile against its US dollar and now is trading on a firm note. The pair dipped to 1.3190 in response to the latest news from Turkey. Nevertheless, the pair has recovered its losses and now is keeping its bullish trend in the light of opportunity to trade with countries directly outside EU.

 

 

NZD/USD

 

Current price:                                                   0.7133 (0%)

Session range:                                                 Open 0.7133; High 0.7154; Low 0.7068

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.7014 R. 0.7185

Main drivers:                                                    None

Overview:                                                         The pair is erasing its last week gains from 26-month high level amid speculations about a rate cut from the RBNZ. Moreover, lower-than-expected NZ CPI has added pressure to Kiwi this morning sending the pair under the key support level of 0.7100.

 

USD/JPY

 

Current price:                                                   105.60 (0.7%)

Session range:                                                 Open 105.35; High 106.02; Low 105.31

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 104.93 R.106.28

Main drivers:                                                    None

Overview:                                                         The pair has ignored new wave of risk aversion after the latest news from Turkey advancing the level of 105 as traders are still digesting Japanese PM Sh.Abe announcement about additional fiscal stimulus. Today most likely the pair will keep its bullish trend remaining under the risk sentiment influence coupled with inactive Japanese markets in observance of Marine Day. 

    

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