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Thursday, October 15th
EUR/USD surges to monthly high amid downbeat US retail sales data. The retail sales MoM figure showed just 0.1% growth, while core retail sales contracted 0.3%. The PPI also declined 0.5%. There is no significant data expected from euro zone today, but on the US side, investors are viewing Core CPI and Philadelphia Fed Manufacturing Index. The single currency is trading at 1.1490 with support and resistance located at 1.1368 and 1.1596, respectively.
GBP/USD is broadly higher amid mixed British data from labor market and weaker dollar. The cable is changing hands at 1.5492, having passed through a strong resistance 1.5414. Without significant data expected from the UK this week, the pair will be mostly following the moves of the USD. However, the pair is still within the falling channel on the daily charts. Current support is seen at 1.5286, while resistance is located at 1.5690.
NZD/USD climbed to its highest since June 29 currently trading at 0.6846. The weak economic data from the US fuelled expectations that Fed rate hike would be delayed for an even longer period than expected. Tomorrow, N.Z. publishes its CPI, which, in case of a good reading, might lead the pair to test the psychological 0.70 level. The support and resistance levels are seen at 0.6671 and 0.6938, respectively.
AUD/USD was recovering the losses suffered on Tuesday, when the pair fell amid lackluster Chinese Trade Balance report. However, higher than expected Westpac Consumer Sentiment reading supported the pair yesterday. The aussie is going up despite weaker than expected employment change, although unemployment rate was below than was predicted by analysts. The support is seen at 0.7213, while resistance is located at 0.7406.
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