Daily economic digest from Forex.ee
Stay informed of the key economic events
Tuesday, April 5th
NZD/USD trades -0.69% lower at fresh session holding just on 0.6800 with its lowest position at 0.6785. The Kiwi faces heavy selling pressure this session largely on the back of poor sentiment towards riskier/ higher yielding currencies as falling Asian equities and oil prices crush investors’ risk-appetite. Looking ahead, the bird will continue to get influenced by the broader market sentiment, while the upcoming US data will provide fresh impetus to the NZD/USD pair. Now pair trades at 0.6797 and support and resistance levels for pair are located at 0.6777 and 0.6887.
EUR/USD is seen extending its retreat from ahead of 1.14
barrier into early Europe.
Renewed selling interest in the major can be reactivated
by awful factory orders data from Germany, which surprised markets to the
downside and caught the EUR bulls off-guard. The German factory orders dropped
1.2%, against the estimated 0.5% increase and even worse than last month's
-0.1% decline.
Activities planned for major in todays calendar
are Euro zone services PMIs, followed by the region’s retail sales data, while
the US will announce ISM non-manufacturing PMI and JOLTS jobs openings data.
Pair currently is trading at 1.1378 meeting it support and resistance levels at
1.1317 and 1.1431.
USD/JPY dives to fresh one-and-a half year lows of 110.60. The
selling pressure behind the USD/JPY pair intensified over the last hour, after
the yen picked-up significant strength as the Japanese stocks dived deeper into
the red.
Ahead in the day, the yen is expected to keep
the bids as the poor German data combined with the ongoing risk-off sentiment
is expected to weigh on the European markets, which will boost the safe-haven
demand for the Japanese currency.
Next on tap for the major - the US services PMI
report from ISM and JOLTS jobs openings data.
Pair now trades at 110.46 with support at 110.28
and resistance level 111.87 respectively.
AUD/USD is now gaining bearish moves, coming down from highs near 0.7630, accelerated by buying interest around the greenback. The RBA, as expected, left unchanged its monetary stance at today’s meeting, refraining from the usual AUD-jawboning, which was perceived as ‘kind of hawkish’ by market participants. Pair trades around 0.7575 and meet support and resistant levels at 0.7543 and 0.7662
The best conditions for making a start on STP only at Forex.ee! Register an account now
and feel the difference from the first trade!
Your European ECN-broker,
Forex.ee.
