Forex.ee: Daily economic news digest

Daily economic digest from Forex.ee
Stay informed of the key economic events

Thursday, June 11^th

^{The U.S dollar index was down 0.36% at 94.82 yesterday – the lowest since May 19. It indicates the ongoing weakening of the dollar against the basket of major currencies.}

^{USD/CAD dropped to 1.2201 on Wednesday, which was the pair’s lowest since May 22. The dollar’s downfall continued as investors were closing their long positions in USD. Currently, the pair is recovering losses traded at 1.2282.}

^{USD/JPY was going up this morning after downbeat data on business sentiment in Japan’s manufacturing and Bank of Japan Governor’s Haruhiko Kuroda’s comment that the yen is “very weak”. Traded at 123.20, the pair is likely to find support at 120.88 and resistance at 124.28.} 

^{NZD/USD plunged after RBNZ lowered the interest rate to 3.25% from the previous 3.50%. The pair is trading at 0.7017 after today’s lowest of 0.6997. The kiwi is on a strongly bearish trend, so trading crosses might be a profitable solution.}

^{EUR/USD remained mostly flat traded at 1.1286. The single currency will remain under pressure following the developments in the Greek negotiations.}

^{GBP/USD pushed higher yesterday hitting the 1.5553 level, but the pair was on straight decline this morning currently changing hands at 1.5444. The support can be found at 1.5373. The resistance level is located at 1.5638.}

^{Later in the day, investors are watching series of reports from the U.S. including Core Retail Sales (MoM) and Retail Sales (MoM). In the evening, Bank of Canada Governor S. Poloz will give a speech.}

Your European ECN-broker,

Forex.ee