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

Wednesday, April 19

It seems that the bulls
by pound today remain without power
after a significant rise against the background of statements by the Prime Minister of Great Britain
T.Mey which forced the pair GBP / USD update its semiannual
highs just above the 1.2900 level, which is almost 4 cents above the lows of
Tuesday. T.Mey yesterday issued a statement on holding early elections,
which will be held June 8. The market took this statement as an attempt to
Prime Minister to strengthen their position, meaning confident Ms. T.Mey in
victory in an election that will give her extra weight in his voice when
nomination requirements in the negotiations on Breksitu. Currently the pair
It is trading around the level of 1.2820, down from its highs overnight, signposted
at the level of 1.2858, as traders adjust their positions on the pound. Looking
forward today against the background of the lack of fresh fundamental releases market will
closely monitor further developments around Breksita.

Couple EUR / USD down below after
yesterday's rise, however, remained on the green area near their
highs this month, indicated yesterday at around 1.0736. However, the euro traded
under pressure in recent days against the backdrop of the forthcoming elections in France,
which is scheduled for the end of this week, as the gap between the main
presidential candidates remains very low. Besides,
a small correction of the US dollar is also providing a bearish pressure on
Couple this Wednesday. On the other hand, the continuing fall in the interest of traders to
more risky assets due to growing geopolitical tensions,
restricts further drop pair. Now all attention is focused on traders
totals of inflation in the euro zone then, as no important releases
from the US economy leave in the hands of a couple of general market sentiment later in the course
today's trading session.

Canadian It remains one of the outsiders of the Asian trading session, despite
the widespread weakness of the US dollar, allowing the pair USD / CAD update their
9-day high at 1.3411. Sale Canadian mainly
linked to the oil price weakness, which recently updated its 11-day
lows. Furthermore, the slight recovery of the US dollar, noted in the course of
Asian trading, can also be attributed to factors bullish movement of the pair. Today
USD / CAD will continue to remain under the influence of oil prices, but the data on
reserves of black gold from the US Department of Energy will also be able to set a pair of short-term
motion vector during the CA session.

Today the pair AUD / USD It continues to trade in
northerly direction for the second consecutive session, approaching the 0.7500 mark,
as market participants are still debating the "dovish" minutes of the meeting
The RBA, which was submitted on Tuesday. In addition, weakness
commodity assets, with the fall in prices for iron to six-month lows, has
additional pressure on the Aussie. Finally, the continued widespread decline
interest of traders in relation to higher-yielding assets also negatively affects
Australian dollar on Wednesday. Today, in the absence of any major economic
releases in this medium the list of events the pair will continue to trade under the influence
Traders predisposition to risky assets and US dollar movements.

Main events
of the day:

The consumer price index in the EU - 12.00 (GMT +3)

Crude oil reserves in the United States - 17.30 (GMT +3)

levels
Support and resistance for the major currency pairs:

EURUSD P.
1.0598 C 1.0802

USDJPY P.
107.74 109.56 C.

GBPUSD P.
1.2363 C 1.3143

USDCHF P.
0.9895 C 1.0079

AUDUSD 0.7500 P.
S. 0.7626

NZDUSD P.
0.6983 C 0.7071

USDCAD P.
1.3276 C 1.3452

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