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Thursday, August 11th
NZD/USD
Current price: 0.7242 (0.6%)
Session range: Open 0.7203 High 0.7342 Low 0.7198
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 0.7103 R. 0.7315
Main drivers: US Initial Jobless Claims, US Export/Import Price Indices
Overview: The pair has performed sharp upsurge this morning reacting on RBNZ decision of “hawkish” rate cut by 25 bps leading the pair to the highest point since May of 2015 marked at 0.7337 level. As rate cut was pretty much expected market has shown more positive reaction as RBNZ decision missed market’s cut expectations of 50 bps. However, after sharp rally of 250 points the pair has taken south direction on the back of dovish comments provided by RBNZ members about low inflation leaving doors opened for further policy easing.
EUR/USD
Current price: 1.1145 (-0.3%)
Session range: Open 1.1176 High 1.1192 Low 1.1141
Latest trend: Bearish
Expected trend: Bearish
Daily volatility: Moderate
Support and resistance levels: S. 1.1080 R. 1.1236
Main drivers: US Initial Jobless Claims, US Export/Import Price Indices
Overview: Today shared currency is losing its advantage against US dollar following global market sentiment. Meeting resistance near the level of 1.1200 the pair has turned around its direction as dollar is regaining its positions across the board. Today the major will keep floating leaded by generalized market sentiment awaiting for Initial Jobless Claims scheduled in NA session.
USD/JPY
Current price: 101.31 (0.0%)
Session range: Open 101.29 High 101.52 Low 101.01
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: Moderate
Support and resistance levels: S. 100.40 R. 102.38
Main drivers: US Initial Jobless Claims, US Export/Import Price Indices
Overview: The major has caught a new bid wave this morning recovering from daily lows seen near the level of 101.00. The USD/JPY has been supported this morning by risk-off sentiments easing across the market leaded by oil price recovery. Today the pair will continue to stay under the risk sentiment influence as Japanese markets are closed due Mountain Day holiday
USD/CAD
Current price: 1.3066 (0.1%)
Session range: Open 1.3058 High 1.3081 Low 1.3022
Latest trend: Bullish
Expected trend: Bearish
Daily volatility: Low
Support and resistance levels: S. 1.2924 R. 1.3186
Main drivers: US Initial Jobless Claims, US Export/Import Price Indices, Canadian New Housing Price Index.
Overview: Currently the pair is keeping its bullish trend progressing through the level of 1.3000 after three consecutive sessions with losses triggered by broad based American dollar’s weakness. Yesterday EIA has published report of Crude Oil Inventories that showed increase in oil inventories activating Canadian bears. Furthermore, restored positive sentiment around American dollar also added some bullish impetus for the major.
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