Daily Economic Digest from Forex.ee
Daily Digest of economic Forex.ee
Keep an eye on major economic news with us
Tuesday, July 4
Couple AUD/ USD It showed a rather volatile trading this morning, updating
its weekly low of 0.7604 after the RBA decided to keep
monetary policy unchanged. Today in the course of its meetings, the RBA left
its interest rate at the same level, however, did not provide any
hints at further tightening of monetary policy. investors
aggressively responded to the neutral position of the regulator, as the markets
We expected more "hawkish" comments from the representatives of the Bank, particularly after
RBA board member speaking at a symposium Dzh.Edvardsa the ECB, which took place on
Last week, where Mr. Edwards has hinted at a possible tightening of monetary policy
Bank in the coming years. On the other hand, the positive data on retail
Sales in Australia, which were also presented during the Asian session, can
provide some support for the Australian bulls continue on Tuesday. Today we
It expects to completely empty the list of economic events, as the US market is closed
on the occasion of Independence Day, so the general market trend
will remain the main driver for the pair during a given .
Couple EUR / USD was not able to continue their
night recovery and fell below, following the trends of global financial
markets, updating its weekly lows at 1.1336. increase the chances
that the Fed will continue its aggressive tightening strategy
monetary policy, which was strengthened by yesterday's data from the production
US sector remains the main driver of the market on Tuesday, the
thus limiting the further recovery of EUR / USD. Looking ahead, today
the pair will continue to follow the price movements of the US dollar in thin conditions
market, since nothing important data scheduled in the calendar for a couple to
this Tuesday.
Couple GBP / USD traded slightly bullish
bias during early European trade, retreating from their weekly lows,
I mentioned this morning at 1.2923, however, remaining unable to recover
its yesterday's losses as the weak performance of the index of business activity
in the UK manufacturing sector continues to have a negative
pressure per pound. Nevertheless, expectations of another interest rate increase
The Fed this year, warmed positive indicators on the index of business
Activity in the US manufacturing sector from the ISM, to limit further
recovery pair. In addition, widespread interest in the reduction of a
risk assets puts additional pressure on the pound bear this
Tuesday. Now all the market's attention
focused on the index of business activity in the construction sector, which
will be presented during the European trade, while, as the data from calendar
US will not be able to provide traders with no trading opportunities as the US
today celebrate Independence Day, leaving the pair in the hands of general market
Sentiment in the CA's trading session.
Couple USD / JPY losing yesterday's earnings
background of widespread risk aversion, which was recorded during the
Asian trading. This Tuesday the pair faced a wave of proposals, as
Media reappeared headlines about North Korea's launch of intercontinental
ballistic missiles, which caused a couple to move away from its multi-week
highs marked yesterday at 113.47. Nevertheless, a further drop
a pair of unlikely, since yesterday's positive data on the index of business
Activity in the US manufacturing sector from the ISM revived the expectations of traders
relatively tight Fed policy, thereby supporting the dollar's recovery
USA across the board. At present, the data calendar for the pair not
planned anything worthwhile, as the US market remains closed today due
with the celebration of Independence Day.
main
events of the day:
United States - Independence Day
The index of business activity in the UK construction sector
- 11.30 (GMT +3)
levels
Support and resistance for the major currency pairs:
EURUSD P.
1.1309 C 1.1453
P. S. USDJPY 111.55 114.39
GBPUSD P.
1.2871 C 1.3055
USDCHF P.
0.9545 C 0.9687
AUDUSD 0.7616 P.
S. 0.7718
NZDUSD P.
0.7231 C 0.7377
USDCAD P.
1.2947 C 1.3041
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