Forex.ee: Daily economic news digest

Forex.ee: Daily economic news digest

26 September 2016, 12:52
EEAnalytics
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Daily economic digest from Forex.ee

Stay informed of the key economic events 

Monday, September 26th

 

EUR/USD

 

Current price:                                                   1.1239 (0.1%)

Session range:                                                 Open 1.1228 High 1.1244 Low 1.1221

Latest trend:                                                     Bullish

Expected trend:                                                Bearish

Daily volatility:                                                 Low

Support and resistance levels:             S. 1.1171 R. 1.1265

Main drivers:                                                    US New Home Sales, Speech of the ECB President M.Draghi.

Overview:                                                         Today the pair has managed to regain its bullish momentum in early Europe. Amid lack of momentum the euro has muted its bullish momentum during Asia based on dovish comments from FOMC members after its meeting that took place last week. However, positive data from Germany has recommenced pair’s growth pushing it through the level of 1.1200. Later President of ECB M.Draghi will give a speech and US economy will release data from housing market that will determine further pair’s direction.

 

GBP/USD

 

Current price:                                                   1.2932 (-0.2%)

Session range:                                                 Open 1.2967 High 1.2988 Low 1.2915

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 High

Support and resistance levels:             S. 1.2814 R. 1.3160      

Main drivers:                                                    US New Home Sales

Overview:                                                         The major is retreating for the second session in a row, coming down from its last week peaks printed at 1.3130 as renewed interest around US currency is forcing the pair to keep its bearish momentum. Britain will introduce only secondary data due today that means that the pair will stay in mercy of relevant shrinking risk appetite trend additionally tracing USD-dynamics for further impact.  

 

USD/JPY

 

Current price:                                                   100.50 (-0.5%)

Session range:                                                 Open 101.02 High 101.13 Low 100.43

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 100.39 R. 101.53

Main drivers:                                                    US New Home Sales

Overview:                                                         Today the dollar/yen pair was unable to consolidate its positions above the level of 101 as prevalent risk aversion sentiments are supporting safe-haven currency. However, the latest comments from BOJ Governor H. Kuroda that the central bank is ready for further monetary policy easing in order to achieve its target are limiting pair’s downside traction keeping its trading range capped near mid-100.00 level.

 

AUD/USD

 

Current price:                                                   0.76156 (-0.8%)

Session range:                                                 Open 0.7623 High 0.7632 Low 0.7602

Latest trend:                                                     Bearish

Expected trend:                                                Bearish

Daily volatility:                                                 Moderate

Support and resistance levels:             S. 0.7584 R. 0.7672

Main drivers:                                                    US New Home Sales

Overview:                                                         The AUD/USD pair is retreating from overnight lows marked at 0.7607 spot generally guided by higher oil prices. The latest upbeat comments from Algeria’s Energy Minister are pushing black gold prices higher thereby supporting commodity linked Australian dollar.  However, chances of further oil output freeze are still very low that are increasing pressure on oil price. Additionally, turned lower risk sentiments are stalling the upside momentum of the pair. Today nothing much is scheduled in Australian economic calendar that means that the pair will stay under the influence of commodity price dynamics.

 

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