Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

26 July 2016, 12:36
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events 

Tuesday, July 26th  

 

EUR/USD

 

Current price:                                                   1.1002 (0.01%)

Session range:                                                 Open 1.0995 High 1.1021 Low 1.0982    

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.0934 R. 1.1028

Main drivers:                                                    US CB Consumer Confidence, US New Home Sales

Overview:                                                         EUR/USD is trading higher today as dollar’s weakness across the board has opened the doors to shared currency’s bulls to take key resistance level of 1.1000. However, the pair will remain under pressure today as euro continues to be weighted by sharp fall in cross with yen.

 

USD/JPY

 

Current price:                                                   104.23 (-1.5%)

Session range:                                                 Open 105.81 High 105.90 Low 104.11

Latest trend:                                                     Bearish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 104.03 R. 107.07

Main drivers:                                                    US CB Consumer Confidence, US New Home Sales

Overview:                                                         The pair dipped to fresh eight-day lows breaking through resistance level of 105.00 this morning. The yen has been kept under massive bullish pressure as Japanese Government is still talking over the size of the stimulus package. Moreover, Finance Minister of Japan T.Aso has announced that liability of the policy measures now shifts on shoulders of BoJ.

 

AUD/USD

 

Current price:                                                   0.7521 (0.7%)

Session range:                                                 Open 0.7469 High 0.7538 Low 0.7462

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.7429 R. 0.7533

Main drivers:                                                    US CB Consumer Confidence, US New Home Sale.

Overview:                                                         Huge sell-off in US dollar helped the pair to jump to five-day high breaking through resistance level of 0.7500 this morning. The Aussie was kept under strong selling pressure last week on the back of RBA speculations around further rate cut in August. Now investors shift their attention to Australian CPI scheduled in Asia that most likely will provide more hints about RBA monetary policy stance on August 11

 

NZD/USD

 

Current price:                                                   0.7050 (0.7%)

Session range:                                                 Open 0.6994 High 0.7062 Low 0.6984    

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.6927 R. 0.7085

Main drivers:                                                    US CB Consumer Confidence, US New Home Sales

Overview:                                                         The pair has managed to perform significant recovery from multi week lows on the back of broad based US dollar’s weakness. Currently kiwi is consolidating its position above the level of 0.7000 despite negative NZ trade balance. However, fall in the NZ’s trade balance shows weakness of economy dropping a shadow of next RBNZ rate cut in August. 

 

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