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

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Daily economic digest from Forex.ee​

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Friday, July 6th

The EUR/USD pair remains positive at the end of this week, keeping its positions above the level of 1.1700, on the back of ongoing sell-off of the US dollar. Yesterday markets negatively reacted on the FOMC minutes, as the Committee highlighted potential risks related to a protectionist trade policy of the US. However, investors still see an additional rate hike this year, so the impact of the protocols on the greenback was limited. Meanwhile, today investors’ eyes remain glued to the US-China trade war, which officially started today with the US tariffs on Chinese imports. On the other hand, as Chinese officials stated earlier this week, Beijing has already prepared retaliatory measures, which will be implemented in near future. Besides the US-China conflict, today investors will also pay attention to the release of the NFP report, which is another risky event of this Friday.

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Daily economic digest from Forex.ee​

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Wednesday, July 11th

The EUR/USD pair recovered part of it yesterday’s losses and now is consolidating its positions within the range of 1.1725-45. Today the underlying theme across the market remains escalation of the US-China trade conflict, as the US threatened to impose an extra $200 billion tariffs on Chinese products, thereby significantly improving the demand for safety and offering some support to the common currency. Moreover, the US-China trade war also affected the US dollar positions, which stalled its yesterday’s recovery, limiting chances of the pair on any retreat. Meanwhile, now market’s attention remains focused on the ECB's statistics conference, where key ECB bankers are due to speak, including ECB President M. Draghi, however, the US PPI report will also be able to offer some fresh trading opportunities this Wednesday.

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Daily economic digest from Forex.ee​

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Thursday, July 12th

The EUR/USD pair corrects from its weekly lows, marked on the level of 1.1665 a day before. Today US bulls continue to keep control over the market, as the greenback shows notable gains against its Asian rivals, such as the yen and yuan. It seems that the US-China trade dispute remains the underlying theme across the market, thus setting a broad market trend. According to the latest news headlines, Trump administration is planning to impose additional tariffs on Chinese goods, which further escalates tensions between the US and China. In addition, yesterday’s US PPI figures also positively affected the demand for the US dollar. But now all market’s attention remains glued to the ECB meeting minutes, where investors are hoping to find additional details regarding the timing of the rate hike next year. Moreover, the US will release today inflation figures, which will also help the pair to form its near-term trajectory this Thursday.

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[Forex.ee Analytics]

Daily economic digest from Forex.ee​

Stay informed of the key economic events​

Friday, July 13th

The EUR/USD pair is trading under bearish pressure at the end of this week, having refreshed its 8-day lows on the level of 1.1627. Persisting demand for the US dollar, underpinned by yesterday’s hawkish comments of Fed Chair J. Powell, who positively valued state of the US economy, remains one of the key drivers across the market. Moreover, on Thursday the ECB released minutes from its last meeting, where the regulator once again showed cautious stance, pointing out that inflation growth rate is still low and timing of the QE program is conditional on incoming data. However, the Bank didn’t offer any fresh details regarding further monetary policy, so market’s reaction on the protocols was limited. As for the data, today both economies will offer us only secondary data reports, so the pair will continue to follow broad market trend.

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