Trading news

TODAY’S CURRENCY MOVERS

Today’s Currency Movers

EURUSD, Daily

EURUSD price, continues to bounce from the May lows near 1.0820. This corrective bounce has attempted, but so far failed, to print a new lower top from the previous 1.1216 high. Yesterday’s high of near 1.1018 was a good attempt at the 1.1030’s, my previous article forecasted lower top. Traders should expect for the market to range between the 1.1030’s and 1.0870’s, now that the previous resistance turned support 1.0970’s area has been deemed invalid, as price has tested the 1.0970’s area both from below and above. Relevant support levels are now observed at 1.0920, 1.0870 and 1.0820, while resistance levels are spotted at 1.1030, 1.1087 and 1.1216. Given that the EURUSD price action is still firmly within the downward slopping price channel, as well as the fact that bullish momentum is observed within the Stochastic Oscillator analysis, I continue to be on alert for sellers to emerge around the 1.1020’s-30’s for a re-test of the 1.0820’s; any breach of the 1.0820’s will open up the way towards the 1.0750’s.

Eurozone Jul PMIs disappointed today, with readings falling slightly from June. The manufacturing PMI dipped to 52.2 from 52.5 and the services to 53.8 from 54.4. However, data continues to show ongoing expansion across the Eurozone manufacturing sectors, which supports the ECB’s view that the recovery remains intact and is broadening if not accelerating.

As for next week’s U.S. Fed policy statement, it should support Fed Chair Yellen’s testimony where she said that the “FOMC is likely to begin liftoff this year, provided the economy continues to improve as forecast.” Traders should prepare for a relatively positive assessment of the U.S. economy.

TB 24 2015-07-24 13:50:19

Currency Pairs, Grouped Performance (% change)

The new Currency Movers Charts show the percentage change from previous day’s close to the current moment against the other major currencies.

This afternoon the EUR is trading higher against the AUD. The AUD is weaker across the board against most pairs, while the JPY is stronger against the EUR.

Significant daily support and resistance levels for these pairs are:

CM V2 2015-07-24 14:29:58

Main Macro Events Today

• EUR PMIs : French PMI readings were much weaker than expected, with the manufacturing PMI falling back below the 50 point no change mark to 49.6 from 50.7 in June. The services reading slumped to 52.0 from 54.1. German corrections were not quite as pronounced and the dips to 51.5 in the manufacturing PMI and 53.7 in the services reading from 51.9 and 53.8 point to a stabilisation, rather than a marked correction. Still, the weak French numbers, highlight that risks to the Eurozone recovery remain and that France continues to underperform.

• JPY Japan flash manufacturing PMI : rose to 51.4 in July compared to 50.1 in June as both domestic orders and output rose — the fastest clip in 5-months. New orders rose to 51.3 from 49.6, output gained to 52.3 from 50.9.

• U.S. New Home Sales : June data on new home sales is out today and should reveal a 1.1% decline to a 540k (median 549k) pace from the 546k pace in May which set a new recent high.

EC 24 V2 2015-07-24 13:44:24

Please note that times displayed based on local time zone and are from time of writing this report.

Click here to access the full HotForex Economic calendar.

Friday, 24 Jul, 2015 / 1:31

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://analysis.hotforex.com/blog/2015/07/24/todays-currency-movers-50/

Trading news

 

Brexit uncertainty kept the Pound within the same range – GBP/USD Market Outlook – 20/10/2020

Positive Brexit headlines earlier yesterday pushed the pound to the 1.3010/20 [...]

Posted on Tuesday, 20 Oct, 2020 / 8:04 under

DOW fell ahead of stimulus bill deadline – DOW JONES Market Outlook – 20/10/2020

The Dow hit our support target at 28750 only to end yesterday’s session [...]

Posted on Tuesday, 20 Oct, 2020 / 8:03 under

Cautious optimism as US stimulus and Brexit talks hang in the balance

  Pelosi sets new deadline for reaching fiscal stimulus deal; US [...]

Posted on Monday, 19 Oct, 2020 / 12:13 under