Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

23 September 2016, 12:41
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events 

Friday, September 23rd

 

EUR/USD

 

Current price:                                                   1.1197 (-0.1%)

Session range:                                                 Open 1.1208 High 1.1220 Low 1.1193

Latest trend:                                                     Bearish

Expected trend:                                                Bullish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.1143 R. 1.1289

Main drivers:                                                    None

Overview:                                                         Seems that euro bulls remained unimpressed by mixed data from Eurozone. Currently the euro has lost its smile and retreats to the red zone printed near the level of 1.1200 down from this session highs marked at 1.1220 as Eurozone preliminary PMI and several local releases has shown mixed results this morning. Most likely, today the pair will stay in mercy of global market sentiment as nothing important in scheduled for the end of this week.

 

GBP/USD

 

Current price:                                                   1.2990 (-0.7%)

Session range:                                                 Open 1.3078 High 1.3089 Low 1.2988    

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 High

Support and resistance levels:             S. 1.2975 R. 1.3171

Main drivers:                                                    None

Overview:                                                         The pound keeps trading under bearish pressure in early Europe as the dollar is performing price corrective actions after two consecutive sessions of losses. Currently the dollar is recovering its positions sending the pair down from yesterday’s high marked at 1.3121 spot to print a session low of 1.2988 level. Moreover, lack of fundamentals from both sides will leave the pair under the pressure, as the dollar will keep its corrective tone during this day.

 

NZD/USD

 

Current price:                                                   0.7253 (-0.8%)

Session range:                                                 Open 0.7312 High 0.7316 Low 0.7242

Latest trend:                                                     Bearish

Expected trend:                                                Bullish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.7247 R. 0.7399

Main drivers:                                                    None

Overview:                                                         The pair continues to keep its bearish tone posting its daily lows at 0.7269 spot, as recent dovish RBNZ statement is still suppressing the kiwi. Moreover, broadly based US dollar’s rebound witnessed during Asia and weakness over the commodity market additionally are weighing the major this Friday. Today amid of absence of fundamentals the pair will remain under the influence of USD dynamics and oil price-action.

 

USD/JPY

 

Current price:                                                   100.88 (0.1%)

Session range:                                                 Open 100.75 High 101.25 Low 100.69

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 99.75 R. 101.43

Main drivers:                                                    None

Overview:                                                         The yen has reversed part of its losses and now is trading under the level of 101.00. Yesterday despite broadly based dollar’s weakness the intervention talks from Japanese side have supported the pair forcing it to extend its recovery from 4-week lows posted near the key support level of 100.00. Today the dollar has recovered smile against its major peers but cautious sentiments across the market are supporting the yen, as it is safe haven currency muting dollar’s positive tone. Amid a lack of fundamental triggers from both sides today US dollar’s dynamics and risk sentiment will remain the main drivers for the pair. 

 

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