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

Thursday, April 6

Couple EUR / USD has come under pressure from the
bears in early European trade as the market reacted aggressively to "pigeon"
statement by the President of the ECB M.Dragi that caused the euro to lose all their positions,
earned yesterday. In his speech M.Dragi noted that the growth rate
Inflation remains still low and therefore the revaluation of the current state of monetary
the policy would not be viable, thereby forcing a couple again to update it
3-week lows at around 1.0629. At the moment, all the attention of the market
It switched to another important event this Thursday - meeting of the President
China's Xi Jinping and US President Donald Trump, where we will discuss
the main issues related to further relations among the countries. Looking ahead,
later in the calendar of events will be presented only minor releases of
both economies, so market participants will continue to discuss the recent
address by the President of the ECB M.Dragi.

Couple GBP / USD consolidated its yesterday
rise, but after failing to hold above 1.2500. Yesterday the pair fell into
field of view of the buyer after the United Kingdom published
Positive data on the index of business activity in the services sector, allowing
pound to recover some of their positions lost after a series of weak macroeconomic
indicators. Moreover, the pair received further support amid
Publication FOMC meeting minutes, which showed that the majority of the committee members in favor of a reduction
the balance later in the year, however, without giving any details about the
how it will be done. On the other hand, the continued risk aversion on
background of the upcoming meeting between Chinese and US states that already starts
today, it limits the further rise of the pair. Meanwhile, both economic
calendar today will remain relatively quiet, so the general market sentiment
will remain the main driving factor in the course of the trading session.

Jena continues to remain upbeat in tandem with the US dollar, showing one of
the best results during the Asian session, amid the weakness of the dollar and
continued risk aversion. Yesterday the USD / JPY has come under strong
pressure from the bears, as the FOMC minutes of the meeting have not been able to bring clarity about
plans Fed representatives to reduce the size of the balance of this year. Such intentions have a negative impact on
expectations of investors about the aggressive monetary tightening
Fed policy, thereby forcing the dollar down across the board. Today
the pair will continue to remain under pressure as the continuing increase in interest
traders to less risky assets continues to be one of the main
drivers on the market, providing a beneficial effect on the yen. Today, against the background of relatively
quiet session meeting of the heads of states of China and the United States will remain at the center
attention, as will ask further development vector pair.

Couple AUD / USD plummeted to monthly
minimum located at the level of 0.7532, after China introduced
disappointing data this morning. Looks like,
that bears on the Aussie continues to ignore the widespread weakness
US dollar, formed on the background of the FOMC minutes yesterday, which
Committee members have shown intention to reduce the Fed's balance sheet at the end of this year.
Moreover, the pair continues to trade under pressure on Thursday, remaining
near its recent lows as well as the growing cautious ahead
meeting, China and the US presidents, as well as the ongoing weakness in the
Commodity markets limit the chances of the pair to recover. The list
Event planned for today only minor reports, so traders
will closely watch for any news about the meeting of two leaders
world's largest economies.

main
events of the day:

There are no

levels
Support and resistance for the major currency pairs:

EURUSD P.
1.0607 C 1.0717

P. S. USDJPY 109.97 111.81

GBPUSD P.
1.2392 C 1.2544

USDCHF P.
0.9974 C 1.0114

AUDUSD 0.7540 P.
S. 0.7600

NZDUSD P.
0.6912 C 0.7008

USDCAD P.
1.3356 C 1.3480

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