Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

25 August 2016, 12:08
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events 

Thursday, August 25th

 

EUR/USD

 

Current price:                                                   1.1269 (0.0%)

Session range:                                                 Open 1.1264 High 1.1280 Low 1.1258

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.1207 R. 1.1339

Main drivers:                                                    US Core Durable Goods Orders, US Initial Jobless Claims

Overview:                                                         Currently the pair is retreating from its daily highs marked at the level of 1.1280 after poor data of German Ifo Business Climate Index released in early Europe. However, the euro is still keeping its positive mood against its American counterpart facing support near the level of 1.1270. Furthermore, today traders will stay cautious limiting pair’s rally in front of main event of this week Federal Reserve Chairwoman Janet Yellen’s speech at the summer economic Symposium, held in Jackson Hole.

 

GBP/USD

 

Current price:                                                   1.3215 (-0.1%)

Session range:                                                 Open 1.3232 High 1.3265 Low 1.3201    

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.3109 R. 1.3333

Main drivers:                                                    US Core Durable Goods Orders, US Initial Jobless Claims

Overview:                                                         The pound has performed minor retreat from session high marked at 1.3264 spot and now is consolidating near the level of 1.3223. The pair was trading in a quite mode so far as traders remain cautious ahead of the most risky event of this week Fed Chair J.Yellen’s speech that is scheduled for tomorrow. Moreover, the pair is experiencing low volatility conditions lately as dust around Brexit is slowly settling down calming traders sentiments around pound.

 

USD/CAD

 

Current price:                                                   1.2912 (-0.1%)

Session range:                                                 Open 1.2927 High 1.2938 Low 1.2911

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.2872 R. 1.2984

Main drivers:                                                    US Core Durable Goods Orders, US Initial Jobless Claims

Overview:                                                         The USD/CAD pair is following global markets uncertain sentiment staying quite this morning. Currently loonie is performing minor upsurge move following oil price recovery after yesterday’s EIA report that showed unexpected growth in crude oil stockpiles. Today the pair will stay directionless as traders refrain from important moves ahead of upcoming Jackson Hole Symposium.

 

USD/CHF

 

Current price:                                                   0.9657 (-0.1%)

Session range:                                                 Open 0.9669 High 0.9679 Low 0.9651

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.9598 R. 0.9718

Main drivers:                                                    US Core Durable Goods Orders, US Initial Jobless Claims

Overview:                                                         Today the pair has been trading in a flat-line during the Asian session after 4-day consecutive growth. The US dollar is still suppressed by yesterday’s downbeat data from US housing market allowing the pair to consolidate in 0.9660-75 narrow range. Moreover, today the pair won’t perform any massive rally as traders are staying alert ahead of Jackson Hole Symposium with Fed Chair Yellen speech scheduled during it. 

 

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