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
DAILY MARKET REVIEW — 21/02/2017
Fed’s statement will drive the markets today
The pair spent yesterday’s session in a narrow range. The volumes were low and the economic calendar was empty. On Wednesday, Philadelphia’s Federal Reserve Bank President Patrick Harker said that the economy is ready for three rate hikes this year so today the pair showed sharp decline. Eurozone’s Services PMI came out much better than expected and helped pair.
In the future, Fed’s statements will impact the markets.
Resistance: 1.05780, 1.06049, 1.06326
Support: 1.05197, 1.04978, 1.04730
DAILY MARKET REVIEW — 20/02/2017
Trading volumes will be considerably lower than usual
The pair dropped significantly last Friday due to the USD’s general strengthening. Meanwhile, U.S’ ECRI weekly index came out better than expected.
US’ celebrates Presidents’ Day so trading volumes are low. Meanwhile, the market participants will prepare for tomorrow’s publication of Reserve Bank of Australia’s meeting minutes.
Resistance: 0.76950, 0.77279, 0.77600
Support: 0.76341, 0.76104, 0.75841
DAILY MARKET REVIEW — 16/02/2017
Trump’s promise provided support for the markets
The pair showed mixed dynamics yesterday due to UK’s labor market data which was higher than expected. But average earnings index was lower that the amount forecasted.
Data on the US labor market scheduled for 13:30 (GMT) will impact the market. Also traders will wait for tomorrow’s UK retail sales for January.
Resistance: 1.25472, 1.25956, 1.26353
Support: 1.24381, 1.23827, 1.23100
DAILY MARKET REVIEW — 15/02/2017
US’ inflation drives the markets today
The pair showed growth yesterday thanks to the positive Eurozone GDP data for Q4 2016. At the same time, Fed’s Janet Yellen statement and data on US producer
Data on US inflation will be published today at 13:30 (GMT) and will influence the pair. Later today at 15:00 (GMT) the FOMC members will release their statements.
Resistance: 1.05910, 1,06198, 1,06425
Support: 1,05300, 1,05100, 1,04923
DAILY MARKET REVIEW — 13/02/2017
Fed’s report will be the main market mover
The pair showed a downtrend during the first half of today’s session. After the US consumer sentiment report was published, dynamics changed. As a result, the EUR lost about 0.5%.
This weekend, Germany choose Frank-Walter Steinmeier as their new president. This provided some support for the pair. Eurozone’s GDP for 2017 showed growth by 1.6% and the inflation grew by 1.7%.
Traders are waiting for Fed’s monetary policy report scheduled for tomorrow.
Resistance: 1.06700, 1.07041, 1.07365
Support: 1.06075, 1.05776, 1.05500
DAILY MARKET REVIEW — 09/02/2017
Eurozone’s political and economic problems drive thr markets today
The pair was in downtrend yesterday as Japanese currency was used as safe asset. Japan’s core machinery orders came out positive and provided support for the JPY. It should be noted that the production equipment for Japan is one of the most important sectors of the economy.
Today, US’ labor market data at 13:30 (GMT) will impact the pair.
Resistance: 112.524, 113.027, 113.444
Support: 111.617, 111.319, 110.825
DAILY MARKET REVIEW — 08/02/2017
Politics drive the markets
UK’s residential property market fell and this piece of news contributed to the pair’s fall.
Meanwhile, dynamics changed in the second half of the day. The reason for this was Bank of England’s Deputy Governor Christine Forbes’ statement. She said that a rate hike is possible at the next bank meeting.
Today, trade’s dynamics will depend on the US currency.
Resistance: 1.25448, 1.26118, 1.26713
Support: 1.24169, 1.23461, 1.22754