Daily economic digest from Forex.ee

Daily economic digest from Forex.ee

13 February 2017, 12:34

Daily economic digest from Forex.ee

Stay informed of the key economic events 


Monday, February 13th  


The USD/JPY pair has lost its upside momentum and now is trading in south direction, as traders are taking some profits off the table. Today the pair refreshed its two-week highs at 114.17 spot in wake of recent US-Japan summit. During the meeting, no important announcements were made, however, investors also haven’t met any hints regarding D.Trump’s protectionist policy that significantly boosting the dollar. Moreover, poor flash Japanese GDP, released this morning, also added some bearish pressure on the yen. Meanwhile, prevalent risk-on sentiments will continue to drive the pair during this trading session, as US docket remains eventless this Monday.


Today the EUR/USD pair corrects higher after brief downside rally, seen in Asia. Currently the pair is trading in the region of 1.0640, bouncing off its today’s lows, posted at 1.0612, as the dollar is giving away part of its gains, led by the meeting of Japanese Prime Minister Sh.Abe and US President D.Trump. However, prevalent risk-on sentiments will continue to slow down pair’s further growth. Today the main currency pair will keep following global market’s moods while economic calendar from both sides remains data empty.


The AUD/USD pair is also experiencing volatile trades this Monday, as various factors are influencing the major. Currently the pair is trading near the level of 0.7670 stepping away from its daily lows, marked at 0.7659 spot, as better tone around commodities, especially huge rally in copper, that refreshed its 20-month highs, is supporting the Aussie. On the other hand, continues demand for the US currency is still weighing the pair, forcing it to retreat from its overnight highs, posted at 0.7680 handle. Nothing much is scheduled in Monday’s docket, so USD price dynamics will remain as a key driver for the pair during this day.


Today the Looney remains well bid against its American neighbor, as the greenback corrects lower versus its main competitors after brief upside rally, witnessed in Asia. Seems that US bulls have lost its momentum, allowing the pair to refresh its daily lows at 1.3073 spot. Moreover, surprisingly strong Canadian data from labor market, seen last Friday, and better tone around oil prices are also supporting the CAD. Today amid absence of any fundamentals the pair will continue to trace global market’s sentiments to determine its further direction.


The main events of the day:



Support and resistance levels for the major currency pairs:

EURUSD               S. 1.0578 R. 1.0698

USDJPY                 S. 112.27 R. 114.29

GBPUSD               S. 1.2400 R. 1.2562

USDCHF               S. 0.9972 R. 1.0086

AUDUSD              S. 0.7589 R. 0.7731

NZDUSD               S. 0.7158 R. 0.7230

USDCAD               S. 1.3001 R. 1.3197

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