Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

24 August 2016, 12:01
EEAnalytics
0
27

Daily economic digest from Forex.ee

Stay informed of the key economic events 

Wednesday, August 24th

 

EUR/USD

 

Current price:                                                   1.1295 (0.1%)

Session range:                                                 Open 1.1305 High 1.1313 Low 1.1287    

Latest trend:                                                     Bearish

Expected trend:                                                Bullish

Daily volatility:                                                 High

Support and resistance levels:             S. 1.1268 R. 1.1374

Main drivers:                                                    US Existing Home Sales

Overview:                                                         The pair continues its downside move for the second session in a row ignoring neutral German quarter GDP data that has reached estimations at 0.4%. The single currency is losing the pace against its American counterpart on the back of renewed bid tone around the greenback that is pushing the pair higher this Wednesday. Moreover, expectations of the upcoming Fed Chair J.Yellen’s speech that most probably will shed the light on further Fed rate-hike are also playing into the hands of dollar lately.

 

NZD/USD

 

Current price:                                                   0.7294 (0.0%)

Session range:                                                 Open 0.7291 High 0.7328 Low 0.7269

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Low

Support and resistance levels:             S. 0.7221 R. 0.7379

Main drivers:                                                    US Existing Home Sales, US Crude Oil Inventories

Overview:                                                         The pair is losing its positions gained yesterday retreating from highs last seen in May 2015. Kiwi bulls fueled by hawkish comments of RBNZ Governor G.Wheeler have run out of steam after the NZ trade balance data had shown negative figure sending the pair back below the level of 0.7300. Also, yesterday’s positive data of US New Home Sales additionally boosted the US dollar’s bulls against its NZ’s counterpart.

 

USD/JPY

 

Current price:                                                   100.20 (0.0%)

Session range:                                                 Open 100.24 High 100.53 Low 100.09

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 99.73 R. 100.63

Main drivers:                                                    US Existing Home Sales

Overview:                                                         And once again, the pair stays unable to consolidate under its psychological support level of 100 retreating to its familiar 100.30 region during the Asia. Yesterday the dollar picked up its bid tone after positive data from US housing market and now is extending its broad based growth. Moreover, awaiting for upcoming Fed Chair J.Yellen’s speech brings risk aversion sentiment across the market lifting US currency higher against the yen. 

 

USD/CAD

 

Current price:                                                   1.2903 (-0.1%)

Session range:                                                 Open 1.2912 High 1.2954 Low 1.2901

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.2818 R. 1.2992

Main drivers:                                                    US Existing Home Sales, US Crude Oil Inventories

Overview:                                                         Today the pair is bouncing off its yesterday’s lows broadly leaded by softer oil price that is activating bears of resource linked Loonie. Moreover, renewed bid tone of American dollar against its major peers also adds some bullish pressure to the pair. Today weekly US Crude Oil Inventories scheduled on NY session will draw all trader’s attention. 

 

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

Share it with friends: