Forex.ee: Daily economic news digest

Daily economic digest from Forex.ee
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Wednesday, June 10^th

^{The Japanese yen was steadily strengthening this morning after release of strong data from Japan beating expectations of economists. The Core Machinery Orders rose 3.0% (YoY) and 3.8% (MoM) in April as opposed to expectations of -1.3% and -2.0% respectively. The Corporate Goods Price Indices were also positive pushing USD/JPY down to 122.85.}

^{AUD/USD soared on comments from RBA Governor Glenn Stevens hitting the level of 0.7747. The market reacted to the statement that “central bank is open to more easing if it is necessary for economic growth”. AUD/USD can find support at 0.7629 and resistance at today’s highs of 0.7747.}

^{NZD/USD was gradually moving up during today’s Asian session over the decline in the dollar price. The stronger data on Electronic Card Retail Sales contributed to a minor upward movement of NZD/USD.}

^{USD/CAD dropped to its two-week lows. The pair’s upward movement was stimulated by the increase of building permits in Canada by 11.6% in April.}

^{Euro is recovering over the weakening of the U.S. dollar after yesterday’s fall. The single currency is expected to continue its rise over rumors that President Obama told the G7 summit in Germany that the strong dollar was “a problem”.}

^{Later in the day, investors are viewing the British Manufacturing production data and the speech of BoE Governor Mark Carney.}

Your European ECN-broker,

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