Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

15 August 2016, 12:11
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events 

Monday, August 15th

 

EUR/USD

 

Current price:                                                   1.1167 (0.0%)

Session range:                                                 Open 1.1169 High 1.1177 Low 1.1153

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.1081 R. 1.1261

Main drivers:                                                    NY Empire State Manufacturing Index

Overview:                                                         After relatively volatile session witnessed last Friday investors have decided to take a breather leaving the pair in deadly flat 10 pips narrow range at the beginning of this week. Looking ahead nothing important is scheduled in data calendar for the pair leaving it to the mercy of global market’s sentiment.

 

 

AUD/USD

 

Current price:                                                   0.7673 (0.3%)

Session range:                                                 Open 0.7656 High 0.7681 Low 0.7636                

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.7595 R. 0.7751

Main drivers:                                                    NY Empire State Manufacturing Index

Overview:                                                         The pair is losing a grip this morning despite post Friday’s broad based dollar’s weakness. Massive sell-off of US dollar has triggered profit taking actions across the market forcing the pair to fade its spike witnessed on Friday after disappointing data flow from US with further decrease especially after refreshing multy-month highs posted earlier last week.

 

USD/CAD

 

Current price:                                                   1.2933 (-0.2%)

Session range:                                                 Open 1.2959 High 1.2977 Low 1.2927

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 High

Support and resistance levels:             S. 1.2888 R. 1.3024

Main drivers:                                                    NY Empire State Manufacturing Index

Overview:                                                         The major is recovering smile at the start of this week after five days of consecutive decline.  Currently the pair is trading near its daily highs as new wave of investors’ interest to US dollar is pushing it higher against its Canadian neighbor. However, the pair remains highly pressured today as crude oil recovery on the back of talks about potential production freezes are supporting commodity linked CAD.

 

USD/JPY

 

Current price:                                                   101.08 (-0.2%)

Session range:                                                 Open 101.13 High 101.48 Low 101.01

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 100.01 R. 102.89

Main drivers:                                                    NY Empire State Manufacturing Index

Overview:                                                         The pair remains flat this Monday due to low volatility in global financial markets. Currently the dollar/yen pair is retreating from daily highs posted near 101.50 region despite poor quarter Japanese GDP. Furthermore, the pair will remain pressured during this day as latest hawkish comments from Japanese finance minister T.Aso and economy minister N.Ishihara in economic outlook are still supporting yen.

   

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