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

Friday, August 11

Couple EUR/ USD She came out of her short phase of consolidation in the
downward as investors take profits after yesterday's growth, provoked
weak results Price Index US manufacturers, as well as "pigeon" speech
Fed B.Dadli the weak pace of inflation in the country. but
It seems that the pressure on the pair gradually weakened as traders in
Currently, begin preparations for a long-awaited report on US inflation,
which will be presented later in the course of the SA's trading session. data on
inflation will be one of the key factors that point to the future
Fed's actions with respect to monetary policy and, consequently, will be able to
set the direction of the main currency pair. Apart from the US data today, traders
again see yet any important reports, as the list of events from
Eurozone today will not bring anything valuable, leaving a pair of hands
general market trend in European trading.

Couple AUD / USD was the weakest asset during
Asian session by updating its multi-week lows at 0.7839 so
how several factors have put pressure on the Australian. Earlier in the
today's session, the pair has faced strong pressure from the bears after
how RBA F.Lou delivered a speech, which was perceived by the market as
"Pigeon". Mr Lowe said that the strengthening of the AUD hindered improvement
employment in a country that remains one of the key risks for the Australian
Economy at the time, as the current level of interest rates contributes to
jobs in the labor market. Moreover, the widespread risk aversion,
which dominated the market during the Asian session, had an additional
pressure on higher-yielding assets such as the Aussie. Nevertheless, the pair
He managed to recover some of its losses in early European trade, as
Investors are taking profits in anticipation of key data this Friday. Today
the US economy will present the long-awaited performance of inflation, which will be
be in the spotlight during the New York trading, and until the mood
global financial markets will continue to determine the direction of the pair.

The pair USD / JPY lost its bearish
the opening of the European markets, as investors are already starting to prepare for the
welcome to data from the US economy. However, during the Asian session, the pair
He traded with a clear bearish bias, updating their 2-month low
the level of 108.91, amid ongoing strife between the US and North Korea, that
It has led to increased demand for safe assets. This time with a sharp
comments made by the Government of North Korea, saying that the US will
the losing party, as well as promising to "destroy provocateurs". Concerning
upcoming events at the end of this week, the data calendar today
It scheduled a key report on US consumer price index, which will have a tangible
impact on the couple, because it can point to a possible tightening
the Fed's monetary policy in December this year.

Couple GBP / USD I could not keep fighting
attitude, marked during the Asian trading session, faced with
resistance at 1.3000. The pair continues to develop its negative
the trend at the end of this week, as another surge in demand for less risky
assets, caused by the continuing tensions between the US and North Korea,
It has a negative pressure on the pound. However, it is expected that the pair will remain
traded near the lower border of its recent range as investors
refrain from opening any major orders in anticipation
fundamental US indices. In contrast to the US economic calendar, a list of
UK events later this week will continue to remain silent, so
the main drivers for the pair during the European trading session the price will remain
US dollar dynamics and news from the Korean peninsula.

main
events of the day:

Core consumer price index in the US - 15.30 (GMT +3)

levels
Support and resistance for the major currency pairs:

EURUSD P.
1.1671 C 1.1835

P. S. USDJPY 108.48 110.54

GBPUSD P.
1.2915 C 1.3045

USDCHF P.
0.9582 C 0.9696

AUDUSD 0.7836 P.
S. 0.7930

NZDUSD P.
0.7181 C 0.7419

USDCAD P.
1.2647 C 1.2793

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