Forex.ee: Daily economic news digest from Forex.ee

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Daily economic digest from Forex.ee​

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Thursday, June 2nd

USD/JPY rebounded from two-week low witnessed at 108.83 as Nikkei 225 slowed down its falling. Yesterday the pair fell sharply on the back of the latest sales tax hike delay decision made by Prime Minister of Japan Sh. Abe. Also the pair is getting some pressure as risky mood calms down and traders find safe haven in Yen. Today traders will closely watch for ADP Nonfarm Employment Change and Crude Oil Inventories from US, as Japan will release only secondary macro data. At the moment the pair is trading at 109.21, with todays approximate support and resistance levels located at 108.01 and 111.59


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Friday, June 3rd

USD/CAD is trading flat this morning hovering between 1.3090 and 1.310 levels. The pair has lost its positions, moving back from nine-day high scored this Thursday on the back of negative Crude Oil Inventories data from USA. Also the pair was influenced by OPEC meeting in Vienna, where meeting participants didn’t reach an agreement. Today all attention will be focused on NFP from USA, with Unemployment Rate, ISM Non-Manufacturing PMI and Trade Balance from Canada. At the moment the pair is trading at 1.3094 with todays support and resistance levels located at 1.3010 and 1.3186.


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Monday, June 6th

GBP/USD has dropped sharply this morning, testing new three-week low at 1.4353 spot. Cable lost all its positions, gained last Friday, as NFP showed unexpectedly low figures, making possible for the pair to grow to 1.4582 level. Now pound is trading below its key resistance level 1.44 unable to break through it as the latest Brexit polls results showed that “leave” voted participants are taking a lead. Today traders will await for a fresh impute from Fed Chair Yellen’s speech scheduled later this day. At the moment the pair is trading at 1.4385 with todays approximate support and resistance levels at 1.4314 and 1.4680 spots.


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Tuesday, June 7th

AUD/USD is extending its rapid growth for the second day this Tuesday. The pair tested five-week high at 0.7431 on the back of RBA’s decision to leave rate unchanged at 1.75% at its monetary policy review meeting. However, leaving rate unchanged was expected. Also RBA noticed that inflation will keep its slow growth for a while. Today the pair will keep its bullish mood as dollar is still weak after disappointing Fridays data, while market participants are still digesting the latest policy outcome form Australia. Meanwhile, today US will introduce only secondary data such as Nonfarm Productivity and Unit Labor Costs that unlikely will change the pairs direction, while Chinese trade figures will provide fresh impetus for the pair. At the moment the pair is trading at 0.7430 with todays support and resistance levels located at 0.7289 and 0.7457.


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Wednesday, June 8th

GBP/USD seems to be cooled off after yesterdays volatile session. Despite improving risky sentiments, the pair is keeping its bullish mood, as dollar is still weak across the board. Currently traders have taken a break before UK Manufacturing Productions, with coming ahead US Crude Oil Inventories. At the moment the pair is trading at 1.4555 with todays support and resistance levels located at 1.4433 and 1.4656.

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Friday, June 10th

EUR/USD remains under strong bearish pressure as dollar is strengthening its positions and oil price is taking its corrective moves. The pair lost more than cent down from yesterdays multi-week high witnessed at 1.1415 spot to level of 1.13. However the pair got minor support this morning as German CPI showed as expected flat figure. Nothing important is scheduled in Euroland data calendar with Michigan Consumer Sentiment and Federal Budget Balance form US coming later this day. Currently the pair is trading at 1.1302 with todays support and resistance levels at 1.1235 and 1.1455.


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Monday, June 13th

EUR/USD has fallen sharply since the last Thursday, losing all gained positions for previous week. However, the shared currency recovered slightly as risk-off sentiments are pushing traders to find safe-haven in EUR. Also EUR has stopped its losing streak as markets are still digesting Orlando bombings happened this weekend. Today without any fundamental release, the pair will follow the market sentiment. Currently the pair is trading almost unchanged towards fresh session high 1.1257. Todays support and resistance levels are located at 1.1196 and 1.1348.


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Tuesday, June 14th

GBP/USD is trading in bearish trend this morning as UK referendum is coming closer. The pair continues to be heavy weighted as less than 10 days are left till UKs major event. The latest polls results are showing that the leading number of the participants is still based in the “leave” camp. Moreover, today traders will focus on UK CPI figures with coming later Retail Sales data from US. At the moment the pair is trading at 1.4175 with todays support and resistance levels located at 1.4024 and 1.4446.

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Wednesday, June 15th

GBP/USD has recovered slightly after six-day consecutive fall. After visiting nine-week low near area of 1.41 the cable took a break and has recovered part of it losses despite the fact that “Brexit” polls are still showing strong overweight in “leave” camp. Today the center stage will take Fed monetary policy decision due later in the American session. However, volatile session is expected today as UK will introduce Average Earnings coupled with Claimant Count Change followed by US PPI and Crude Oil Inventories. At the moment the pair is trading at 1.4172 with todays approximate support and resistance levels located at 1.3980 and 1.4328.


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Thursday, June 16th

USD/JPYreached the lowest levels since Sept 2014 at 104.01 spot. After Fed as well as BOJ left their interest rates unchanged, the pair has found herself under bearish pressure. Today in data calendar traders will find US CPI data and Philadelphia Fed Manufacturing Index scheduled later in the New York session. At the moment the pair is trading around its todays lows at 104.15 meeting strong resistance near 104 level. Todays support and resistance levels are located at 103.33 and 105.94.


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