Daily Economic Digest from Forex

Daily Economic Digest from Forex.ee

Daily Digest of economic Forex.ee

Keep an eye on major economic news with us

Monday, May 15

Today the pair EUR/ USD He continues to maintain a fighting spirit, renewing their weekly
highs at around 1.0947 as the dollar continues to remain weak for all
directions. It seems that market participants continue to discuss the negative
economic performance of the United States, presented on Friday,
which reduced the likelihood of the Fed raising rates in June to 73.8%, which, in its
It turn, had a negative impact on the dollar relative to its main competitors.
Today, nothing important is not scheduled in the calendar of events of both economies,
Therefore, the main currency pair will continue to follow general market sentiment and
the price of the US dollar to determine the dynamics of the further vector
movement.

Couple USD / CAD It has come under intense pressure
from the bears today during the Asian trading against the backdrop of the latest news regarding
extending the OPEC agreement to freeze oil production volumes. Currently
the pair continues to trade in a southerly direction, while remaining close to their
three-day lows, located in the area of ​​1.3660, as the strong rise in prices
oil, triggered by the intention of Russia and Saudi Arabia extend agreement
a reduction in the volume of oil production up in March 2018, has a significant
support commodity and raw material assets such as Canadian. Moreover, the continued
decrease in the dollar due to the weak performance on inflation and retail sales in the US
further promote the sale of aggressive pair. Today, nothing worthwhile
not mentioned in the list of events of both economies, so the price of oil
and the attitude of the US dollar will continue to set the direction of a couple of earlier this week.

Couple NZD / USD continues to recover their
position of the second day in a row, moving away from its 10-month lows marked
immediately after the publication of the results of the meeting of the RBNZ, despite mixed data
Chinese economy. It seems that New Zealand continue to control the bulls
a pair today, as weak data on inflation and retail sales from the US, and
also a positive report of New Zealand retail sales, support
a couple at the beginning of this week. Moreover, a sharp jump in oil prices also
supported by a pair NZD / USD this morning. On the other hand, weak results in volume
Industrial production in China has led to a decrease in the interest of traders
relatively risky assets, thereby restricting further
recovery pair. Looking ahead, today to be relatively quiet
trading session, so the general market sentiment will continue to set the course of development
pair.

It seems that the talk
around the recent meeting of the Bank of England gradually begin to subside, allowing the pair
GBP / USD rise above the level 1.2900
in early European trade. Today, the pair continues to trade in the north
direction, while gaining more than a cent from its lows Friday as weakness
The dollar remains the main driver of the market. Moreover, the sharp rise in prices
oil boosted investor interest in riskier assets, the
thereby providing additional support for the pound. On the calendar of events today
It contains only secondary data, so the pair will remain under
influenced by general market sentiment in the course of the trading session, but tomorrow
UK inflation figures will limit its further growth, as expected,
that investors will take profits in anticipation of important data.

Main events
of the day:

There are no

levels
Support and resistance for the major currency pairs:

EURUSD P.
1.0827 C 1.0985

P. S. USDJPY 112.74 114.24

GBPUSD P.
1.2817 C 1.2933

USDCHF P.
0.9927 C 1.0125

AUDUSD 0.7333 P.
S. 0.7447

NZDUSD P.
0.6806 C 0.6894

USDCAD P.
1.3628 C 1.3782

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