DAILY MARKET REVIEW — 15/03/2017
Dutch elections and Fed’s meeting will be today’s main news
The pair fell yesterday as Eurozone’s industrial production was lower than expected. Meanwhile, US’ producer price index for February was better than experts’ forecast. Traders are waiting for Fed to announce its meeting result at 18:00 (GMT). According to most analysts, the US central bank will raise rates by 0.25%, which will lead to a rise in the USD’s price.
Dutch elections also put some pressure on the pair. If the ultra-right party wins, then the country may leave EU.
Resistance: 1.06389, 1.06621, 1.06978
Support: 1.06000, 1.05727, 1.05462
DAILY MARKET REVIEW — 14/03/2017
News from EU will be today’s market driver
The pair showed a downward trend yesterday as traders were waiting for the British Parliament’s decision on Brexit. At the same time, the reasons for the pair’s fall were purely technical factors.
Meanwhile, last night it became known that the British parliament allowed the government to start the Brexit procedure. Against this background, the British currency was under pressure. Data on Eurozone industrial production and business sentiments also impacted the market.
Resistance: 0.88064, 0.88503, 0.89070
Support: 0.87522, 0.87090, 0.86600
DAILY MARKET REVIEW — 13/03/2017
Draghi’s statement will be today’s main news
The pair showed a significant growth over the last two days as the ECB kept rates unchanged. At the same time, data on average wages in the US put some pressure on the American dollar. It turned out that data came out worse than expected.
Today, ECB President Mario Draghi’s statement scheduled for 13:30 (GMT) will impact the market.
Resistance: 1.07190, 1.07408, 1.07644
Support: 1.06530, 1.06290, 1.06051
DAILY MARKET REVIEW — 07/03/2017
NFP is the main market mover
The British currency continues to go down on a wide spectrum of the market. The reason for this is the upcoming Brexit procedure. At the moment, the procedure needs to be approved by the British Parliament.
Meanwhile, UK’s budget provided support for the pair. Nevertheless, data on US labor market from ADP put some pressure on the pair. Along with this, investors are waiting for tomorrow’s NFP report.
Resistance: 1,21837, 1,22122, 1,22415
Support: 1,21218, 1,20897, 1,20551
DAILY MARKET REVIEW — 06/03/2017
The USD is under pressure
The pair showed strong growth last Friday. But Eurozone statistic came out negative. Eurozone’s services PMI was worse than the analysts’ forecast, the same as retail sales. But the pair grew despite negative statistic.
Today, US’ factory orders scheduled for 15:00 (GMT) will impact the market.
Resistance: 1.06395, 1.06580, 1.06760
Support: 1.05909, 1.05684, 1.05500
DAILY MARKET REVIEW — 02/03/2017
Traders are waiting for Janet Yellen’s statement scheduled for tomorrow
Bank of Canada left interest rate unchanged yesterday. This put pressure on the Canadian dollar. The US currency, on the contrary, was supported by positive statistics on the production sector.
Today, Canada’s GDP for Q4 2016 scheduled for 13:30 (GMT) will impact the market.
Resistance: 1,33877, 1,34182, 1,34549
Support: 1,33230, 1,32840, 1,32554
DAILY MARKET REVIEW — 01/03/2017
Fed provided support for the USD
In the first half of yesterday’s session, the pair showed downward trend. This was due to the positions adjustment before the US officials’ statements. The US GDP for Q4 came out better than expected. Meanwhile, US Fed’s statement provided strong support for the pair.
Today, US real personal consumption will impact the pair. Later today at 15:00 (GMT) US’ ISM Manufacturing PMI will be published.
Resistance: 113,850, 114,162, 114,496
Support: 112,945, 112,536, 112,089
DAILY MARKET REVIEW — 27/02/2017
Fed’s statement will be the main market mover today
The pair fell last Friday on the background of political tensions in France. At the same time, France’s consumer confidence matched the forecasts.
Today, the pair’s dynamics will depend on US’ durable goods orders scheduled for 13:30 (GMT). Later today at 15:00 (GMT), US’ Pending home sales index will be published.
Resistance: 1.06140, 1.06400, 1.06668
Support: 1.05596, 1.05320, 1.05010
DAILY MARKET REVIEW — 23/02/2017
Political news drive the markets today
The GBP fell against the US dollar yesterday. Data on GDP for Q4 2016 in the final estimate disappointed traders and put pressure on the pound. U.S. existing home sales were higher than expected and provided support for the USD. Meanwhile, FOMC’s meeting minutes didn’t provide support for USD so the pair closed the session in sideways.
Today, the pair started to recover yesterday’s loses. Later at 13:30 (GMT) US labor market data will be published.
Resistance: 1,25075, 1,025472, 1,25816
Support: 1,24259, 1,23827, 1,23447
DAILY MARKET REVIEW — 22/02/2017
US news will be the main market mover today
The pair fell after publication of the RBA Meeting Minutes. Meanwhile, in the second half of the day the pair started to grow as price of copper rose (the copper is one of the country’s export goods). Negative data on business activity in the United States provided support for the pair.
Today, US’ Federal Reserve statement will impact the markets.
Resistance: 0,76940, 0,77107, 0,77278
Support: 0,76540, 0,76350, 0,76157