Daily economic digest from Forex.ee
Stay informed of the key economic events
Wednesday, July 20th
EUR/USD
Current price: 1.1019 (0.0%)
Session range: Open 1.1021 High 1.1024 Low 1.1000
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.0953 R. 1.1114
Main drivers: US Crude Oil Inventories
Overview: Today the pair is running in a flat mode finding strong support at 1.1000 level. Yesterday the pair dropped sharply after downbeat ZEW Economic Sentiments of EU and Germany. Moreover, the pair is experiencing bearish pressure today as US dollar is still keeping its bid tone on the back of yesterdays slightly better US Housing Sales data.
GBP/USD
Current price: 1.3084 (-0.2%)
Session range: Open 1.3109 High 1.3116 Low 1.3064
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Low
Support and resistance levels: S. 1.2951 R. 1.3358
Main drivers: UK Average Earnings Index +Bonus, UK Claimant Count Change, US Crude Oil Inventories
Overview: Today the pair is trading in red zone as slightly better US housing market data released day before is still keeping US currency bid toned. Moreover, now traders remains cautious ahead of UK labor market report limiting pounds recovery from todays lows witnessed in 1.3060 region.
USD/CAD
Current price: 1.3061 (0.3%)
Session range: Open 1.3020 High 1.3068 Low 1.3013
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2889 R. 1.3122
Main drivers: US Crude Oil Inventories
Overview: US bulls seems to be taking a breath this morning after yesterdays rally fueled by upbeat US housing labor data. At the moment the pair is wobbling in region of 1.30 ahead of key oil data. Main drivers for the pair remains risk appetite sentiment with oil price dynamics that will set up movement direction during this day.
USD/JPY
Current price: 106.43 (0.3%)
Session range: Open 106.12 High 106.44 Low 105.82
Latest trend: Bullish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 105.21 R. 106.99
Main drivers: US Crude Oil Inventories
Overview: Yesterday, on the back of positive US data the pair broke through the resistance level of 106. However, near the level of 106.50 US bulls ran out of steam and the pair retreated to region of 106. Today most likely the pair will not perform any sharp corrective moves as the pair remains under the influence of recent Japanese PM Sh.Abe announcement of further economic stimulation.
The best conditions for making a start on STP only at Forex.ee! Register an account now
and feel the difference from the first trade!
Your European ECN-broker,
Forex.ee