Daily economic digest from Forex.ee

Daily economic digest from Forex.ee

Stay informed of the key economic events

Wednesday, August 16th  

The EUR/USD pair extends its Asian consolidation pattern in the area of 1.1740 this morning, remaining in anticipation of fresh catalysts. Today the pair remains better bid, trying to extend recovery from yesterday’s drawdown, backed by positive data from the US economy, but further upside lacks of momentum, as broad cautiousness dominates the market today. On the other hand, improved demand for the US dollar, underpinned by renewed hopes of Fed rate increase in December, negatively affects the pair this Wednesday. Now immediate focus is remaining on Eurozone’s preliminary GDP report, while data from the US housing market will also be closely watched for fresh impetus in early NA session. However, the key event of this Wednesday remains release of FOMC Meeting Minutes, which will be able to provide another hint on Fed rate hike this year, thus setting the tone fo

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(16 AUGUST 2017)DAILY MARKET BRIEF 2:EURCHF is heading higher but not for long

The Helvetic currency is suffering against the euro and the pair is back below 1.15. We nonetheless do not believe that the pair will continue to head towards 1.20 and the ongoing move may not be sustainable in the medium-term.

The fundamentals behind the recent surge of the single currency against the euro appears unclear. The economic and political situation have not changed during the summer. Yet we consider that this is only a catch-up as the euro strengthened against major G10 currencies on growing expectations of the Eurozone recovery. Markets now expect the ECB to narrow the monetary policy divergence with the Fed

European geopolitical tensions are also very calm during this summer. It is also important to remember that the massive Greek debt issue is far from solved and this will likely weigh again on the European Union unity.

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(16 AUGUST 2017)DAILY MARKET BRIEF 1:Minutes to highlight divergence among Fed members

The solid print in retail sales and Empire Manufacturing Index yesterday helped the greenback to catch his breath. Retail sales advanced strongly in July, climbing 0.6%m/m (versus 0.3% expected), while previous month’s reading was revised to +0.3% (from -0.2% initially estimated). The core measure that excludes auto dealers and gasoline stations picked up 0.5%m/m following an upwardly revised figure of 0.3% in June. After a series of disappointing reports, it seems US consumer are finally ready to open their pockets. This acceleration a consumption is definitely of good omen for GDP growth as households consumption account for roughly 70% of the US economy and also to inflation. However, for the ladder, it will take a longer period to translate into firmer inflation reading.

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NZD/USD Intraday technical levels and trading recommendations for August 16, 2017

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Daily Outlook

The NZD/USD pair has been trending up within the depicted bullish channel since January 2016.

In November 2016, early signs of bullish weakness were expressed on the chart when the pair failed to record a new high above 0.7400.

A bearish breakout of the lower limit of the channel took place in December 2016.

In February 2017, the depicted short-term downtrend was initiated in the depicted supply zone (0.7310-0.7380).

However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.

The price zone of 0.7150-0.7230 (Key-Zone) stood as a temporary resistance zone until a bullish breakout was expressed above 0.7230.

This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which was temporarily breached to the upside.

The recent bearish pullback was executed towards the price zone of 0.7310-0.7380 (newly-established demand-zone) which failed to offer enough bullish support for the NZD/USD pair.

Re-consolidation below the price level of 0.7300 enhances the bearish side of the market. This brings the EUR/USD pair again towards 0.7230-0.7150 (Key-Zone) where price action should be watched for a possible BUY entry.

The material has been provided by InstaForex Company – www.instaforex.com

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XAG / USD: demand for precious metals declined

After the tension in relations between North Korea and the United States declined and against the background of positive data on retail sales received from the US, the dollar regains its positions in the foreign exchange market, and the demand for safe haven assets, including precious metals, is declining.

A few hours after China supported sanctions against Pyongyang imposed by the United States, North Korea refused to threaten to attack the United States.

As reported yesterday by the US Department of Commerce, July data on retail sales exceeded expectations, an increase of 0.6% against the forecast (0.4%). Data on retail sales supported the further strengthening of the dollar and encouraged the buyers of the dollar, putting on its further growth.

Today, the focus of traders will be the publication (18:00 GMT) of the protocol from the July Fed meeting to understand the prospects for monetary policy in the US.

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TIENS Super Calcium Nutrient for Children

Tiens Super Calcium Powder for Children is prepared by using the most advanced technology. Calcium is particularly important for growing children and this Tiens product is manufactured specifically for them. Calcium is necessary for good bone formation and strong teeth, as well as other important functions. Rich source of protein from egg yoke powder and whole milk powder.

 Main Ingredients: zymolitic Bone Calcium Powder, Taurine, Vitamin A, Vitamin D, Vitamin C, Phosphorus, Zinc, Iron and Aspartame. It is supplemented with yolk powder, in which the Lecithin is effective in growth and development of brain cells, the development of eyesight and improving memory.

Who is Super Calcium Powder for Children suitable for?

Children wanting to maintain healthy bones and teeth;

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Euro May Shrug Off GDP Data as US Dollar Gains on FOMC Minutes

The Euro may shrug off a revised set of second-quarter GDP figures while the US Dollar might rise as minutes from July’s FOMC meeting hint at a third rate hike this year.

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Bitcoin retreats after surging above $4,400 level for first time

The #digital #currency #Bitcoin retraced gains on Tuesday after surging above the $4,400 level for the first time in its nine-year #history. On the U.S.-based #Bitfinex exchange, Bitcoin was last at $4,065.7, down $176.5 or 4.41%. It earlier set a fresh all-time high of $4,430.0. Bitcoin has more than quadrupled in value so far this year and has gained around 42% in August. For more details click here https://goo.gl/qFvLGw, Millennium FX

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Australia Wages Climb 0.5% In Q2

Wage growth in Australia gained a seasonally adjusted 0.5 percent on quarter in the second three months of 2017, the Australian Bureau of Statistics said on Wednesday.

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Live Ventures Inc (LIVE) Moving Averages Under the Spotlight

Live Ventures Inc (LIVE) Moving Averages Under the Spotlight

Sparta Review44 minutes ago

Shares of Live Ventures Inc (LIVE) have seen the Mesa Adaptive Moving Average (MAMA) climb above the Fractional Moving Average or FAMA.

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