Daily economic digest from Forex.ee

Daily economic digest from Forex.ee

Stay informed of the key economic events

Friday, July 21st  

The EUR/USD pair broke out of its brief consolidation phase, having refreshed its nearly 2-year highs at 1.1677 in Asia, as investors continue to digest recent talks of ECB President M.Draghi. Yesterday the pair performed aggressive bullish rally, despite neutral tone of Mr.Draghi during ECB press conference, talking about weaker inflation and possible extension of the QE program. However, Chief of the ECB confirmed readiness of the regulator to tackle the issue of the QE program in September. In addition, traders took positively Mr.Draghi’s comments on confident recovery of Eurozone’s economy, noting that recent weakness in inflation considered by the ECB as temporary. Meanwhile, the dollar has its own problems amid a new wave of scandals around possible US president D.Trump business deals with Russia. Later today, in absence of fresh fundamentals from both sides the p

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Bitcoin & Ethereum – are anonymous, but are they also safe?!

We talked about price movement, evolution, involution, issues like transaction processing delays, costs… but how about security? Is Bitcoin, Ethereum as safe as we think (or advertised)? Yes, we have a high degree of anonymity by owning these cryptoc…

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Forex 21th july 2017 : suggestions for main currencies

Dear readers,
at the end of New York market session, I analyze volatility (ATR) and trend (SMA) indicators on the majors forex pairs,
searching for the most profitable conditions to place a trade.
Yesterday GBPJPY price has closed at 145,19 with -0,40%…

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EUR/USD skyrockets to highest level since August 2015 above 1.16

After easing to 1.1480 following the ECB’s decision to keep its monetary policy unchanged, the EUR/USD pair caught a fresh buying wave as the ECB President Draghi adopted a hawkish tone during the press conference and reached its highest leve…

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(20 JULY 2017)DAILY MARKET BRIEF 2:Stay bullish USDJPY on BoJ inflation revision

he BoJ monetary policy meeting today when as we had expected. The BoJ held policy mixed unchanged while downgrading inflation and upgrading growth forecasts. The softer inflation forecast should take away some of the bullish moment in the JPY. Traders …

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(20 JULY 2017)DAILY MARKET BRIEF 1:EUR subject to downside risk ahead of ECB meeting

There is a lot at stake today as the European Central Bank meets to revise its monetary policy. The single currency has been trading with a strong positive bias for several weeks as investors widely anticipate the end of ultra-accommodative monetary policy for the euro area. EUR/USD hit 1.1583 on Tuesday as speculators continued to raise euro bullish bets. This morning, the single currency has been treading water at around 1.15 ahead of Mario Draghi’s press conference.

Market participants are positioned for a hawkish tone from the ECB president as they bet he will drop hints on tapering. Even though the ECB cannot walk out of this meeting without giving a little clarity, at least, we think that the ECB won’t match the market’s hawkish expectations. Indeed, it is true that the euro area has gained momentum recently, allowing for a more enthusiastic tone regarding growth expectations. However, those improvements have failed to translate into strong inflationary pressure for now. Therefor

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Daily economic digest from Forex.ee

Daily economic digest from Forex.ee

Stay informed of the key economic events

Thursday, July 20th

The EUR/USD pair was trading back and forth so far this session in a range of 1.1500-30 as investors turn nervous ahead of key risky event of this Thursday – ECB monetary policy decision. However, the pair continues to keep negative bias for the second day in a row, as traders are taking profits of the table, focusing on ECB meeting. It is expected that the regulator will keep its policy stance unchanged, while any details regarding QE program, especially in light of recent hawkish talks of ECB members, will have significant influence on the pair. On the data front, today the EU calendar won’t bring any relevant reports during the European session, while bloc of macroeconomic releases from the US economy will be able to attract traders attention in the NA session.

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