Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

29 August 2016, 12:35
EEAnalytics
0
26

Daily economic digest from Forex.ee

Stay informed of the key economic events 

Monday, August 29th

 

EUR/USD

 

Current price:                                                   1.1185 (-0.1%)

Session range:                                                 Open 1.1178 High 1.1209 Low 1.1172    

Latest trend:                                                     Bearish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 1.1077 R. 1.1397

Main drivers:                                                    US Core PCE Price Index, US Personal Spending

Overview:                                                         The Euro is trying to fight back part of its positions against its American counterpart this morning testing the level of 1.1200 after major slide down to 1.1179 spot. However, the markets are still digesting Friday’s hawkish J.Yellen’s speech thereby fueling dollar bulls and leaving the pair under pressure. Moreover, today UK markets are closed due to Bank Holiday taking away part of volatility across the market.

 

GBP/USD

 

Current price:                                                   1.3092 (-0.3%)

Session range:                                                 Open 1.3111 High 1.3140 Low 1.3086

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.3019 R. 1.3333

Main drivers:                                                    US Core PCE Price Index, US Personal Spending

Overview:                                                         Currently the dollar is consolidating its gains against pound after Friday’s massive downside rally. Eventually, the pair is running in a quite mode wobbling between 1.3110 and 1.3140 levels. Today the GBP/USD cross will continue to trade under dollar’s pressure as UK markets are closed due to Summer Bank Holiday leaving the pair at risk sentiment mercy.

 

USD/JPY

 

Current price:                                                   102.22 (0.4%)

Session range:                                                 Open 102.07 High 102.40 Low 101.81

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 99.37 R. 103.15

Main drivers:                                                    US Core PCE Price Index, US Personal Spending, Japanese Household Spending

Overview:                                                         The pair has met strong support near its psychological level of 100.00 and now is moving in a north direction expanding its 11-day highs above the level of 102.00. Reacting on a hawkish speech of Fed Chair J.Yellen that has fueled expectations of this year rate-hike dollar bulls have accelerated upside momentum of the pair strengthening dollar’s positions across the board.

 

USD/CAD

 

Current price:                                                   1.3005 (0.0%)

Session range:                                                 Open 1.2993 High 1.3026 Low 1.2987

Latest trend:                                                     Bullish

Expected trend:                                                Bullish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.2767 R. 1.3127

Main drivers:                                                    US Core PCE Price Index, US Personal Spending

Overview:                                                         Today loonie is trading in a red zone against its American neighbor staying near its psychological level of 1.3000. The pair managed to break through the level of 1.3000 after hawkish speech of J.Yellen during Jackson Hole Symposium seen last Friday. Furthermore, Canadian dollar has received additional bearish pressure from lower oil prices witnessed this morning.

 

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: