Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

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

Stay informed of the key economic events 

Friday, August 12th

 

GBP/USD

 

Current price:                                                   1,2954 (0.0%)

Session range:                                                 Open 1.2956 High 1.2979 Low 1.2944                

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.2880 R. 1.3064

Main drivers:                                                    US PPI, US Retail Sales

Overview:                                                         Pound has recovered smile against its American counterpart this morning lifting the pair to daily maximums near the level of 1.2980 as renewed broad based risk appetite is hitting up demand for risky assets such as GBP. However, the possibility of further BoE’s monetary policy easing continues weighing the pair.

 

EUR/USD

 

Current price:                                                   1,1151 (0,1%)

Session range:                                                 Open 1.1137 High 1.1157 Low 1.1130                

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.1098 R. 1.1210

Main drivers:                                                    Prelim. EU GDP, US PPI, US Retail Sales

Overview:                                                         The pair has broken out of its narrow range of 15 pips and now is moving higher reacting on positive German data released this morning. The pair had entered its consolidation phase after heavy losses witnessed this Thursday staying directionless during Asia. Moreover, broad based US dollar’s weakness is letting bulls to take control over the pair today.

 

AUD/USD

 

Current price:                                                   0.7692 (-0.1%)

Session range:                                                 Open 0.7699 High 0.7705 Low 0.7670

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 High

Support and resistance levels:             S. 0.7657 R. 0.7765

Main drivers:                                                    US PPI, US Retail Sales

Overview:                                                         Currently aussie is trimming gains as weaker-than-expected Chinese economic data released this morning is forcing the pair to retreat from its multi-month highs marked near the level of 0.7750 after 250 pips rally witnessed since the last week. Moreover, profit-taking actions performed by investors lately additionally are weighing the pair.

 

USD/CAD

 

Current price:                                                   1.2966 (-0.2%)

Session range:                                                 Open 1.2994 High 1.2995 Low 1.2964

Latest trend:                                                     Bearish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.2888 R. 1.3132

Main drivers:                                                    US PPI, US Retail Sales

Overview:                                                         Loonie is recovering bid tone against its American neighbor refreshing daily lows near the level of 1.3000. The pair remains majorly influenced by higher oil prices fueled by recent comments of Minister of Energy of Saudi Arabia that question about crude oil output freeze is not closed yet and will be discussed on the next OPEC meeting scheduled on September. Moreover, dollar is performing price corrective moves after yesterday's growth additionally supporting CAD bulls.

   

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