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

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Tuesday, August 15th

The EUR/USD pair accelerated its downside traction this morning after Germany released weaker-than-expected preliminary GDP data, however, meeting resistance near the level of 1.1700. Moreover, it is expected that the major currency pair will keep navigating to the south on Tuesday, as the US dollar extends its recovery after recent drop, backed by weak US inflation data. Meanwhile, seems that the dust around geopolitical tensions between the US and North Korea settled down after recent headlines, saying that North Korea decided not to launch ballistic missiles on Guam, leaving the euro without any support on Tuesday. On the data front, besides German fundamental reports nothing else is left in the EU economic docket, so global market trend will continue to navigate throughout the European trading session, while the US economy will release retail sales data, which will be able to determine next short-term trajectory for the pair during New York trades.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Wednesday, August 16th

The EUR/USD pair extends its Asian consolidation pattern in the area of 1.1740 this morning, remaining in anticipation of fresh catalysts. Today the pair remains better bid, trying to extend recovery from yesterday’s drawdown, backed by positive data from the US economy, but further upside lacks of momentum, as broad cautiousness dominates the market today. On the other hand, improved demand for the US dollar, underpinned by renewed hopes of Fed rate increase in December, negatively affects the pair this Wednesday. Now immediate focus is remaining on Eurozone’s preliminary GDP report, while data from the US housing market will also be closely watched for fresh impetus in early NA session. However, the key event of this Wednesday remains release of FOMC Meeting Minutes, which will be able to provide another hint on Fed rate hike this year, thus setting the tone for the US currency in upcoming days.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Friday, August 18th

The EUR/USD pair shows positive mood at the end of this week, as shrinking risk appetite and weaker US dollar support the pair on Friday. Seems that the market is still being influenced by dovish FOMC meeting minutes, which showed concerns of the regulator over weaker growth pace of the US inflation, which in turn is still pressuring the greenback. Moreover, increased demand for safe-haven, boosted by terror attack in Barcelona, supports the shared currency this Friday. On the other hand, further upside of the pair may appear capped, as the market is still digesting slightly dovish ECB minutes. The ECB protocols showed that the regulator was worried about stronger euro. Also Bank’s members noted that ECB will continue to maintain accommodative monetary policy if needed. Looking ahead, today only several Fedspeaks will be able to bring some impetus to the pair at the second half of the NA trading session, so broad market trend will remain as an exclusive driver for the pair at the end of this week.


Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Monday, August 21st

Today the EUR/USD pair stepped below the level of 1.1750, despite strong risk-off trend, which was dominating the market in Asia. Seems that renewed demand for the US dollar remains the key determinant for the pair at the start of this week amid lack of any fundamental drivers. Moreover, last week’s ECB minutes, which showed worries of the regulator regarding higher exchange rate of the common currency, are still weighing the pair on Monday. However, shrinking risk appetite, backed by reappeared concerns over the conflict between the US and N.Korea, may provide some support to the euro, thus limiting pair’s further losses. Today nothing important is scheduled in data calendar, so the pair will continue to trace global market sentiments, while investors are slowly shifting their attention to the main event of this week - Jackson Hole Symposium, which will begin this Thursday.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Tuesday, August 22nd

The EUR/USD pair corrects lower after yesterday's rally, having broken through the level of 1.1800 on the back of recovery of the US dollar across the market. Adding to this, slightly improved risk sentiments amid cooling off conflict between the US and North Korea also negatively affect the pair on Tuesday. However, all traders’ attention remains on the Jackson Hole Symposium, where members of CBs, including J.Yellen and M.Draghi, will deliver speeches on monetary policy of banks. That is why the market will keep its cautious stance ahead of the key event of this week. But for now all eyes remain glued to German ZEW Economic Sentiment, while the US economic docket will continue to keep silence for the second consecutive day, so broad market trend will remain as a key determinant for the pair throughout the NA session.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Wednesday, August 23rd

The EUR/USD pair came out of its bearish consolidation phase in European morning and refreshed its daily highs at 1.1794, following positive preliminary German Manufacturing PMI report and slightly hawkish speech of ECB President M.Draghi. Adding to this, prevailing risk-off trend, triggered by US President D.Trump’s speech, during which he threatened to close down the government in order to get funding to build a barrier along US southern border, also supports the major currency pair this Wednesday. On the other hand, further upside of the pair looks limited, as investors refrain of placing any important directional bets ahead of Jackson Hole Symposium, which will take place this Thursday. The market is expecting that both heads of regulators will offer some hawkish signs on monetary policies, which will boost speculations over the divergence between the Fed and ECB. In the day ahead, market participants will focus their attention on the data from the US housing market, while broad market trend will continue to lead the pair throughout this Wednesday.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Thursday, August 24th

Seems that the EUR/USD pair corrects lower today, slipping below the level of 1.1800, as traders lock in some profits after yesterday’s minor rally, backed by positive German Services PMI data and slightly hawkish talks of ECB Chief M.Draghi. Adding to this, pickup in the US dollar demand remains one of the key navigators across the market that also weighs on the major currency pair on Thursday. Now all attention shifts towards the key event of this week - Jackson Hole Symposium, where Fed Chair Janet Yellen and ECB President Mario Draghi will deliver their speeches. The market will look closely at the speeches of both heads of regulators for fresh insight on Fed's monetary policy tightening plans and on possible QE program tapering by the ECB, which will be able to shape up pair’s next near-term trajectory. Also today, the US will release existing home sales data, which will be able to provide additional impetus to the pair during the NA session.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Friday, August 25th

The EUR/USD pair trades with bearish bias at the end of this week, extending its retreat below the level of 1.1800, having barely reacted on positive data from the German economy. Retreat of the pair is mainly attributed to broad US dollar correction, while typical cautiousness ahead of important event is limiting pair’s chances on recovery, as investors refrain from placing any important directional bets. The key events of this day remain speeches delivered by Fed Chair J.Yellen and ECB President Draghi at the Jackson Hole economic forum. Markets awaits that both heads of regulators will point out on monetary policy courses of Banks, which will strongly boost speculations on the divergence between the Fed and ECB. In addition to Jackson Hole Symposium, the US economy will release durable goods data in early NA session, which will also be able to bring some directional impetus to the pair in the day ahead.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee
Stay informed of the key economic events​

Monday, August 28th

The EUR/USD pair continues to keep positive mood, remaining in the region of its 2-1/2 year tops, marked at 1.1960 earlier this session. Seems that bulls have not given up yet after Friday’s 150 pips upside rally, following speeches of both heads of regulators at the Jackson Hole Symposium on Friday. The Fed Chair J.Yellen's speech wasn’t very informative, lacking of any details on Fed further monetary policy, that, in turn, disappointed the market and triggered broad sell-off of the US currency. On the other hand, ECB President M.Draghi in his speech showed intention of beginning the QE program tapering, however, not specifying when and how the regulator will implement these measures. Also Mr. Draghi noted that the EU economy continues to show sustainable recovery, while adding that accommodative monetary policy will remain appropriate for a while. In general, the speech of the ECB President was taken by markets as hawkish, providing additional support to the main currency pair. Today both economic calendars won’t bring any important data reports, so broad market trend will remain as a key determinant for the pair at the start of this week.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee

 

[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Tuesday, August 29th

The EUR/USD pair broke through its psychological resistance level of 1.20 in European morning, extending its multiyear highs. Currently the main currency pair is trading in the region of 1.2050, having refreshed its tops at 1.2070, which is the highest level since January 2015. The offered tone behind the greenback, triggered by disappointing speech of Fed Chair J.Yellen, remains one of the key navigators across the market, thereby supporting the pair. Adding to this, recent speech by ECB President M.Draghi at the Jackson Hole Symposium was perceived by markets as hawkish, as the head of the regulator was talking about plans of the ECB regarding tapering the QE program, that has strongly boosted speculations on divergence between the Fed and ECB, which, in turn appear, supportive to the pair. Moreover, persisting risk-off moods, ignited by escalated North Korean tensions, are also positively affecting the shared currency. Looking ahead, today we have another light data calendar, as only US CB Consumer Confidence numbers will offer fresh impetus to the pair, so widespread US dollar’s retreat and risk-off market trend will continue to lead the pair throughout this trading session.

Click here to see all current market developments.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

Your European ECN-broker,
Forex.ee