Daily Economic Digest from Forex.ee

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Keep an eye on major economic news with us

Thursday, July 20

Couple EUR/ USD It traded today in a fairly wide range, showing
movement between the marks 1.1500 and 1.1530, as investors begin
nervous in anticipation of the key events this Thursday - ECB decision on the
interest rate. Nevertheless, the pair holds a negative bias has
the second straight session, as traders continued to take profits on the background
upcoming important events. It is expected that the European regulator, in general, preserve
its economic position unchanged, but any details regarding
QE program, especially
taking into account the recent "hawkish" statements of ECB members will
significant impact on the pair. Relative macroeconomic indicators,
Eurozone calendar today will not be able to please the markets any important
reports, while the US was to publish a block economic indicators
able to attract the attention of traders during the SA trades.

Couple USD / JPY He continues to recover from
three-week lows marked yesterday at 111.55, as the Bank of Japan
I failed to impress the markets today. As expected, the Japanese regulator
maintain the status quo with respect to its monetary policy, leaving
interest rate at the same level. The Bank revised its inflation forecasts
a fall, thereby strengthening market expectations that the BOJ will continue to adhere to the
accommodative policy, thus extending its incentive program
economy, which had a downward pressure on the yen. However, the growing
caution among market participants on the eve of the ECB meeting provides some
support for the yen today, which limits the potential for further growth of the pair. Further
in the calendar of events for today marked a block of data from the US economy, including
a report on the index of manufacturing activity from the Federal Reserve Bank of Philadelphia,
several minor releases, but markets will continue to discuss the outcome of the
a recent meeting of the Japanese regulator.

Couple AUD / USD demonstrated quite
a high level of volatility in the Asian session, again updating their 2-year-olds
peaks at around 0.7989 against the backdrop of mixed data in the Australian economy.
However, the pair failed to hold its bullish tone and bounced off his
highs, as the bears still have control of the pair on weak data
with the Australian labor market. Furthermore, the continued recovery of the US dollar against the
its main competitors and the growing caution in the market on the eve of
ECB also negatively affect the pair this Thursday. However, the positive
mood around commodity assets provide some support for the Aussie, the
thus further limiting the drop pair. Further, today we will see the block
US economic data that contains an index of manufacturing activity from the Federal Reserve Bank
Philadelphia, while the trend of the market will continue to guide the couple in the European
trading.

Couple GBP / USD continues to consolidate
district level 1.3020, as markets await the release of data on retail sales
In Great Britain. Today the pair traded in a narrow range as traders
refrain from opening any positions ahead of important data from the UK,
especially taking into account the series of unconvincing recent macroeconomic
indicators. As market caution is reinforced by the fact that the minister today
Breksita D.Devis Affairs will meet with the head of the EU delegation at the talks M.Barne
in Brussels to discuss the issues of Breksitu. In addition, to reduce the rate
US dollar recovery also remains unable to specify any pair
direction of this Thursday. In addition to data from the UK today
traders will pay attention to the flow of American releases, which will
presented during the CA trading session. Moreover, the large movement cross EUR / GBP,
associated with the ECB, will also have some effect on the Couple
further today.

main
events of the day:

The volume of retail sales in the UK - 11.30 (GMT +3)

ECB decision on interest rates - 14.45 (GMT +3)

The index of manufacturing activity from the Federal Reserve Bank of Philadelphia - 15.30
(GMT +3)

ECB Press Conference - 15.30 (GMT +3)

levels
Support and resistance for the major currency pairs:

EURUSD P.
1.1480 C 1.1572

P. S. USDJPY 111.22 112.58

GBPUSD P.
1.2986 C 1.3070

USDCHF P.
0.9516 C 0.9580

AUDUSD 0.7890 P.
S. 0.7990

NZDUSD P.
0.7314 C 0.7408

USDCAD P.
1.2537 C 1.2685

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