Friday, October 13, 2017

Forex.ee: Economic Daily Digest

Forex.ee: Economic Daily Digest

Daily Digest of economic Forex.ee

Keep an eye on major economic news with us

Tuesday,
6 September

AUD/USD

current
price:
0.7638
(0.7%)

Range: at
the opening of 0.7584 Max. 0.7656 Min. 0.7580

All trend: ascending

expected
trend:
ascending

expected
volatility:
moderate

levels
support and resistance:
P. S. 0.7540 0.7648

main
developments:
Index
business activity in the non-manufacturing sector ISM from the US, Australia's GDP

Overview: Today
The RBA kept its interest rate at its record low of 1.5%, leaving
a pair of bulls is not impressed with his decision. Nevertheless, the pair carried out a moderate
rise during the Asian session, as a statement of the RBA
monetary policy still provided some positive hints about
economic growth in the country. the couple also received an additional boost in the north
direction after positive data from Australia, presented earlier. Now
entire focus shifted towards US data to be released in the course of
American session, as well as Australian GDP, which also did not remain without
attention of traders. But as long as the pair will continue to be influenced by the recent
RBA decision, which is still under discussion in the markets.

EUR/USD

current
price:
1.1156
(0.1%)

Range: at
the opening of 1.1148 Max. 1.1159 Min. 1.1140

All trend: ascending

expected
trend:
ascending

expected
volatility:
low

levels
support and resistance:
P. S. 1.1112 1.1200

main
developments:
Index
business activity in the ISM non-manufacturing sector of the US

Overview:
Today, the main currency pair keeps its narrow trading range in 15
points near the level of 1.1150. The euro / dollar is ignored does not live up to expectations
Data from Germany on the background of the upcoming key events this week. Now traders
They focused their attention on the ECB interest rate decision, which is scheduled
on Thursday, which in turn limits the volatility of the pair. the
Still bears on the euro remained strong in recent years against the backdrop of
political instability across the euro area, as Merkel has setbacks at the
regional elections, and the referendum is approaching critical in Italy, which
casts doubt on its membership in the EU.

USD/CAD

current
price:
1.2900
(-0.2%)

Range: at
the opening of 1.2930 Max. 1.2935 Min. 1.2887

All trend: down

expected
trend:
Downward

expected
volatility:
low

levels
support and resistance:
P. S. 1.2853 1.3031

main
developments:
Index
business activity in the ISM non-manufacturing sector of the US

Overview:
Today, the Canadian dollar is trading positive c
attitude against its US neighbor to the background of the continuing rise in prices
oil. In addition, widespread dollar sell-off, fixed from the beginning
this week, also promotes the growth of the Canadian, forcing the couple to update their
8-day high, reaching to the resistance level at 1.2900. Next in
focus remains on meeting the Bank of Canada's Monetary Policy
which is expected tomorrow.

USD/JPY

current
price:
103.33
(-0.1%)

Range: at
opening 103.44 Max. 103.82 Min. 103.26

All trend: down

expected
trend:
ascending

expected
volatility:
moderate

levels
support and resistance:
P. S. 102.58 104.54

main
developments:
Index
business activity in the ISM non-manufacturing sector of the US


Overview:
Bulls in the yen continued at the beginning of the European session to restore lost
position against the background of the widespread sale of the US dollar, which puts pressure on
pair. Yesterday the pair has lost all his positions taken after Friday's report from the
US labor market, moving to the level of 103.00. Nevertheless, the growth of the yen looks
unconvincing, as the markets continue to discuss the "pigeon" speech Kuroda of weakening
Bank of Japan's monetary policy, which is still putting pressure on the Japanese
currency. Today, against the backdrop of a lack of fundamental issues with the Japanese side
the pair will remain under the influence of the general tendency of traders to risky assets to
the release of US data during the American session.

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