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Forums > Commercial Zone > Third Party Market Analytics > Forex.ee: Daily economic news digest
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29 Jun 2015 4:45 AM

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

Monday, June 29th

EUR/USD dropped to 1.0954 after dramatic collapse of negotiations between Greece and its creditors over the weekend. Greek banks and stock exchange are expected to be closed for the entire week as the government imposed capital controls within the country.  The possibility that Greece will run out of cash even before the July 5 referendum called by Greek Prime Minister Alexis Tsipras is very high. The pair is currently traded at 1.1084. Today’s move of the single currency majorly affected the market, which opened with a gap in Asia leading to significantly higher volatility

The U.S. dollar index which measures the strength of the greenback against six major currencies was up 0.83% to 96.40.  The U.S. data on Friday showed that consumer sentiment rose this month bolstering the expectations for higher interest rates.

USD/JPY slumped to 122.10 over higher retail sales in Japan and the plunge of the euro. The pair is currently moving back towards 123.00 reading as dollar is gaining momentum.

AUD held steady at three-week lows against the greenback. The pair hit 0.7586 during the Asian trade, which was its lowest since June 8. Currently located at 0.7638, the pair can find support at 0.7550 and resistance at 0.7701.

NZD/USD touched the level of 0.6785 this morning, which was pair’s lowest since June 2010. The Kiwi is back to above 0.68, but the bearish trend is likely to continue further.

Ahead in the day, investors are viewing the pending home sales in the U.S. while the situation in Greece remains the main point of concern.



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30 Jun 2015 4:25 AM

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

Tuesday, June 30th

EUR/USD reversed plunging 0.4% during the Asian session. After the collapse of Greek negotiations the attention of the market is now turned to the July 5 referendum. Greek Prime Minister Alexis Tsipras reported he might resign if Greek people vote in favor of the creditors’ proposal. The pair is traded at 1.1166.


AUD/USD
was rising this morning despite weaker data. HIA New Home Sales fell 2.3% in May, which was a sharp fall from 0.6% gain in the previous month. The aussie is
quoted at 0.7683 against the greenback with support and resistance levels located at 0.7595 and 0.7779, respectively.


USD/JPY
continued the bearish trend after rising above 123.00 level yesterday afternoon. The Japanese data on Housing Starts came out in line with expectations, while construction orders declined 7.4% after last month’s -12.1%. The pair is located at 122.21.


GBP/USD
fell below 1.57 amid strengthening of the dollar this morning, but cable erased losses rising back to 1.5710. The markets are viewing the British GDP later in the day. The pair is likely to find support near 1.5622 and strong resistance at 1.5826.


NZD/USD
was moving down in Asia, which shows the continuous weakening of the Kiwi. The pair dipped to 0.6794 subsequently consolidating at 0.6808.  In New Zealand, building consents came in flat and ANZ Business Confidence reading was -2.3%.


Ahead in the day,
investors are viewing euro zone’s CPI, Canadian GDP and Conference Board Consumer Confidence report from the U.S.



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01 Jul 2015 5:15 AM

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

Wednesday, July 1st

Greece has officially missed its 1.6 billion payment to the IMF on Tuesday. This is the largest missed payment ever owed to the IMF and Greece is no longer in a bailout program for the first time since 2010. Greek banks and the Athens stock exchange remain closed through this week ahead of the July 5 referendum. Beyond that, Greece has a July 20 payment of 3.5 billion euros due to the ECB. EUR/USD was as low as 1.1107 today, but no major volatility is observed in today’s trade so far.


AUD/USD
continued recovery from its Monday lows despite China’s PMI missing the expectations. The pair is currently traded at 0.7705 after reaching its highest of 0.7738 today. In Australia, the AIG Manufacturing index fell 8.1 points to 44.2, which is its two-year low. Also, the number of building approvals in Australia rose 2.4%, above expectations of 1.0% growth. The RBA Commodity Price index was down 17.9% after the 20.8% plunge last month. The support will be found at 0.7684 and resistance at 0.7770.


USD/JPY
was going up despite all major economic data from Japan showing stronger than expected readings. The pair is trading close to 122.71.


The U.S. dollar index
was down 0.01% at 95.74.


NZD/USD
rose 0.61% from its five-year lows reaching the 0.6810 reading and subsequently consolidating at 0.6777. It is official holiday in New Zealand today, so without any news coming out from New Zealand the pair’s moves will solely depend on the strength of the U.S. dollar.


USD/CAD
is on the bullish trend after yesterday’s report of a slightly weaker than expected Canadian GDP. The pair is currently quoted at 1.2502.


Meanwhile, GBP/USD was not much affected by yesterday’s stronger British economy growth report. The important news for the pair was much weaker PMI, which sent the cable down to 1.5651.


Ahead in the day,
investors are viewing ADP Nonfarm Employment Change and the ISM Manufacturing PMI in the U.S.



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02 Jul 2015 3:54 AM

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

Thursday, July 2nd  

NZD/USD fell amid easing expectations by the central bank and possible rate lowering in New Zealand. The pair is trading at 0.6677 with resistance level at 0.6790.


AUD/USD
is declining for the second consecutive day after data showed trade balance deficit was considerably wider than expected in Australia. The aussie is quoted at 0.7613 against its American equivalent. The support is likely to be found near 0.7591 level.


The U.S. dollar index
was flat at 96.47 despite yesterday’s strong economic data: ISM Manufacturing PMI exceeded expectations by 0.4 points reaching 53.5 and ADP Non-farm Employment Change was 237K with 218K expected.


GBP/USD
remained mostly unchanged after yesterday’s fall amid weaker Manufacturing PMI . The cable is still struggling near 1.5584and investors are viewing the British Construction PMI today. It is likely that pound will find support near 1.5526 if the data is worse than expected and resistance at 1.5677 in case of a stronger PMI reading.


USD/JPY
is back above 123.00 currently quoted at 123.51.


The euro
traded between small gains and losses in Asia. The single currency is worth $1.1054 after today’s lowest of 1.1032.


Ahead in the day,
all attention is on Non-Farm Payrolls and Unemployment rate in the U.S.



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07 Jul 2015 3:23 AM

Daily economic digest from Forex.ee
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Tuesday, July 7th  

EUR/USD opened today’s trade at 1.1055 in Asia as Greece received hard news from IMF about Fund’s inability to provide the country with any additional funding. Since the opening of the market, the single currency slid down to 1.1025 and further falls are expected ahead in the day.


AUD/USD
dropped to 0.7477 amid Reserve Bank of Australia keeping the interest rate unchanged at 2.00%. The markets will be monitoring the Australian data for confirmation of economic rebound. Otherwise, the interest rates are more than likely to go down in course of further easing, pulling AUD lower. The support and resistance levels are at 0.7443 and 0.7571, respectively.


NZD/USD
followed the Australian counterpart dipping down on the discouraging NZIER Business Confidence survey for Q2. The pair is traded at 0.6654 and remains in red as the bearish trend continues.


The U.S. dollar index
was stronger – up 0.11% to 96.53.


GBP/USD
is erasing yesterday’s gains in anticipation of British Manufacturing production due later in the day. The cable is quoted at 1.5568 but the main developments of the pair’s movement will be determined by the manufacturing data. Support is likely to be found at 1.5492.


Ahead in the day,
the Canadian and U.S. Trade balance data is due, so higher volatility is expected for USD/CAD.

 

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08 Jul 2015 4:53 AM

Daily economic digest from Forex.ee
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Wednesday, July 8th  

USD/JPY is broadly lower after positive data from Japan contributed to the strengthening of yen. The Japanese adjusted current account was 1.64T as opposed to 1.38T expected. The current account n.s.a. in May was 1.881T exceeding the expectations by 0.339T. The bank lending rose 2.5% in June – a slight dip from 2.6% in May. The yen is below 122.00 at 121.53.

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09 Jul 2015 4:47 AM

Daily economic digest from Forex.ee
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Thursday, July 9th  

AUD/USD broadly higher after positive reports on the Employment change. The unemployment rate in Australia also did not  reach the expected level and additional support was offered by Chinese CPI data. The pair is traded at 0.7478 with support levels at 0.7320, 0.7338 and 0.7357. The resistance level is at 0.7483.

                       

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10 Jul 2015 4:05 AM

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Friday, July 10th  

USD/CAD is close to the strong resistance level located at 1.2833 – the highs of March. The possibility of rebound is very high, bearing in mind that the loonie was weakening for over three weeks now. The series of news are coming out from Canada with Employment change and unemployment rate at the focus of investors’ attention. The pair is changing hands at 1.2698.

                       

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13 Jul 2015 4:24 AM

Daily economic digest from Forex.ee
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Monday, July 13th  

GBP/USD is rebounding after falling for the two consecutive weeks. With British CPI, Unemployment rate and Average Earnings index due later in the week, sterling may be well supported by the positive economy data. The current market price is 1.5543.

                       

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14 Jul 2015 4:53 AM

Daily economic digest from Forex.ee
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Tuesday, July 14th  

NZD slips lower against stronger greenback hitting the lows of 0.6666 earlier today. The continuation of a downfall might be at questions as Greece agreement supports the demand for riskier assets. NZD/USD is changing hands at 0.6681.

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15 Jul 2015 4:09 AM

Daily economic digest from Forex.ee
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Wednesday, July 15th  

AUD/USD is up for the second consecutive day trading at 0.7460.  New Motor Vehicle sales were up 3.8% after previous reading of -6.9%. The aussie was greatly supported by the Chinese GDP data coming out higher than expected.


NZD/USD
was headed up as weaker retail data from U.S. weakened the greenback, but today’s move was all the way down through the 0.67 level. Tomorrow, the New Zealand CPI is out, which will give further indications of how weak the Kiwi is and if the bearish trend is going to continue for long. NZD/USD is currently at 0.6692.

On the other hand, GBP/USD rallied supported by lower retail sales in the U.S. and hawkish comments from Band of England officials. The cable traders now look for the average earnings in the UK. The market price of GBP is $1.5662.


EUR/USD
is changing hands at 1.1015 after yesterday’s EZ ZEW Economic Sentiment and Industrial Production data were lower than expected. The market is looking forward to the Fed Chair J. Yellen’s speech in the evening.


USD/CAD
is up this morning ahead of Interest rate decision later in the day. The loonie was constantly getting weaker for over two   months in a row, almost reaching the March highs of 1.2833.

 

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16 Jul 2015 4:51 AM

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

Thursday, July 16th  

USD/CAD was much higher breaking through the 1.2833resistance level (the highs of March) trading close to the much stronger historical resistance level of 1.3063 (highs of March 2009).  The loonie eased as the U.S. PPI sent the pair higher, right before the BoC reported the lowering of interest rate to 0.50%. Ahead in the day the investors will be watching the Foreign Securities Purchases data from Canada. The pair is quoted at 1.2920 with immediate resistance level at 1.2940.

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17 Jul 2015 4:40 AM

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

Friday, July 17th  

Yesterday, EUR/USD fell, despite the weakening of the dollar caused by lower reading of the Philadelphia Fed Manufacturing Index. Although, the greenback remained supported by the speech of J. Yellen. The interest rate in Europe was kept unchanged at record lows and European Central Bank increased its emergency lending to Greek banks by €900 million. The pair is trading at 1.0884.


GBP/USD
is broadly higher today, gaining 0.38% to reach the 1.5664 level.


USD/JPY
is down after yesterday’s rise. The pair is trading at 123.97 with closest support and resistance levels at 123.63 and 124.42, respectively.


AUD/USD
was higher this morning, reaching the 0.7417 level, then returning close to yesterday’s closing price of 0.7402.  The Australian Conference Board Leading index was higher than the previous reading of -0.3%.


NZD/USD
is moving up after sharp losses of the two previous days when Kiwi lost almost two hundred pips. The current market price is 0.6531.


Ahead in the day,
investors are viewing the U.S. Building Permits and Core CPI from U.S. and Canada.



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20 Jul 2015 7:10 AM

Daily economic digest from Forex.ee


 

NZD/USD was pushed up today to 0.6600 level by the New Zealand PM John Key’s comment that Kiwi has fallen faster than expected. Currently the price trades at 0.6569 level. The main focus this week is on the RBNZ police meeting on Thursday and interest rate decision. Resistance is at 0.6575 level with support at 0.6535.

 

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03 Aug 2015 4:23 AM

Daily economic digest from Forex.ee
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Monday, August 3rd

USD/CAD was rising this morning after breaking through the important 1.3063 resistance level last Friday. The market is closely watching the current movement of this instrument as this week’s Canadian economic data and expected GDP report are likely to give a start to a new long-term trend. Consolidation of prices above 1.3063 would be a reliable signal for opening long positions. Today is a national holiday in Canada.

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