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

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Thursday, August 6th

AUD/USD slips lower after mixed Australian jobs data. The pair already hit 0.7320 level and continues to lower even further, as demand for the dollar is starting to pick up after yesterday’s non-farm private employment did not reach the expected levels. . In June, Australian unemployment figure ticket up to 6.3% employment change figure was at 38.5K against the forecast of 10K. The support can be found at 0.7261. Closest resistance is located close to 0.7429.

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Friday, August 7th

EUR/USD inched up to 1.0920 extending gains of the previous session, as U.S. Treasury prices surged ahead of today’s Non-Farm Payrolls data. The single currency was relatively flat against the US dollar during the previous month and has remained below 1.10 for the last eight sessions. The pair is likely to gain support at 1.0808 (lows of July 20) and resistance at 1.1114.

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Monday, August 10th

GBP/USD keeps declining after the stress imposed by “Super Thursday” and “Super Friday”. It is clear that the bulls are lacking strength especially after breaking through the trend line formed by lows of April 13, 2015 and July 8, 2015. The current market price is 1.5479, which is very close to the support level of consolidation corridor between 1.5690 and 1.5467. The expectations are mostly bearish. This week, economists are expecting to see the data from UK on Employment and wages.

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Tuesday, August 11th

The Australian dollar fell sharply after publication of downbeat NAB Business confidence survey. The aussie lost 0.63% declining to 0.7317. Technically, AUD/USD has dropped away from the previous resistance levels it was heading to, so the new resistance levels to watch are located in between 0.7418 and 0.7437. The support is likely to be found at 0.7311.

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Wednesday, August 12th

EUR/USD is broadly up breaking through the 1.10 level. Greece has agreed on the terms of a multi-year €86 billion bailout from its international creditors, which hopefully will make it possible for the country to make the critical repayment due next week. Today, we will see euro zone’s Industrial Production data. The support and resistance levels to watch are 1.0946 and 1.1129, respectively.

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Thursday, August 13th

EUR/USD is showing correction after considerable gains of previous days when the pair managed to break through the 1.10 level to reach the highs of the month at 1.1213. One day after Greece agreed on the framework of the multiyear bailout the Greek Parliament is still expected to approve the deal. Today, German, French and Spanish CPI came out in green colour and market is expecting to see the European account of Monetary Policy Meeting in the afternoon. The pair will find support at 1.1036 and resistance at 1.1310.


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Friday, August 14th

USD/CHF struggled to rise above 0.98 level after suffering significant losses on Wednesday. Yesterday, the pair rose modestly by 0.0007 points even though Swiss PPI was showed even more considerable contraction in numbers than expected. Next week, Swiss Trade Balance data is published. Currently trading at 0.9755, the pair has immediate resistance at 0.9815 and support at 0.9697.


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Monday, August 17th


USD/JPY was weaker in Asia despite GDP data showing the economy growth contracted less than expected. This was due to the strengthening seen in dollar after upbeat data on producer prices and industrial output on Friday. The U.S. dollar index rose 0.11% to 96.71. The pair is currently erasing the morning losses changing hands at 124.39. Support can be found at 123.92, while resistance is located at 125.05.



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Tuesday, August 18th


USD/JPY is slightly down today but no major fluctuations are observed ahead of today’s news release from the United States. Ahead in the day, the market is viewing the Building Permits and Housing Starts data. Markets believe that any break below 124 level should be considered as a good buying opportunity which could once again take the pair higher to retest 125 level. The current quote is 124.30.



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Wednesday, August 19th

Japanese yen fell slightly after the country’s Adjusted Balance figure came out in red colour at -0.37T against -0.16T expected. Meanwhile, exports rose more than expected in July, while imports contracted less than predicted by economists. USD/JPY is changing hands at 124.29, which means the ongoing consolidation is still active with support and resistance levels located immediately at 124.06 and 124.60, respectively. The pair is likely to reach the 125 level if, having fallen to 124, it tests the 124.60 area.



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