Daily FX Analysis: EUR/USD, GBP/USD, AUD/USD.

EUR/USD

EUR/USD Daily Chart

Weekly Trend: Overbought 1st Resistance: 1.1340 1st Support: 1.1205 2nd Support: 1.1115 3rd Support: 1.1027

EUR

Recent Facts:

22nd of July 2016, German Manufacturing PMI (key indicator of the activity level of purchasing managers in the manufacturing sector as surveyed in Germany) Better than Expected. Setting a new high from May 2014

28th of July, German Unemployment Change Better than Expected.

29th of July, CPI (key preliminary inflation data in Europe) Higher than Expected. Setting a new high since last February

16th of August, German ZEW Economic Sentiment (gauges the six-month economic outlook. The reading is compiled from a survey of about 350 German institutional investors and analysts) Contrasted (ZEW Current Conditions better than Expected, ZEW Economic Sentiment worse than Expected)

Eyes on today release: European CPI (Consumer Price Index, measures the change in the price of goods and services from the perspective of the consumer)

USD

Recent Facts:

21st of July 2016, Existing Home Sales Better than Expected. Setting a new high since August 2015, which was the highest value of the last 6 years

29th of July, Gross Domestic Product QoQ (preliminary) Worse than Expected. Actual = +1.2% Expectations were at +2.6%

3rd of August, ADP Nonfarm Employment Change Better than Expected. Continuing the up-trend from last May

5th of August, Nonfarm Payrolls and Unemployment Rate Nonfarm Payrolls Better than Expected (for the second month in a row), Unemployment Rate pared

9th of August, United States Nonfarm productivity Worse than Expected

12th of August, U.S. Retail Sales (essential for a better understanding of the Fed’s future interest rates policies) Worse than Expected

16th of August, Building Permits Worse than Expected

17th of August, FOMC Meeting Minutes (U.S.A.) Economists see the December meeting as the most likely time for a rate increase since it follows the U.S. presidential election

GBP/USD

GBP/USD Daily Chart

Weekly Trend: Bearish 1st Resistance: 1.3080 2nd Resistance: 1.3220 1st Support: 1.2885 2nd Support: 1.2680

GBP

Recent Facts:

22nd of July 2016, UK Services PMI (key indicator of the activity level of purchasing managers in the services sector) Worse than Expected. Setting a new historical low, the lowest value of the last 7 years

27th of July 2016, Gross Domestic Product (preliminary) Better than Expected

4th of August, Bank of England Interest Rates decision (expected a cut) Bank of England lowers Interest Rates as Expected (record low of 0.25%) and increases purchase program

09th of August, Manufacturing Production (measures the change in the total inflation-adjusted value of output produced by manufacturers) Slightly Worse than Expected

09th of August, Trade Balance Worse than Expected. Setting a new historical low

16th of August, UK Consumer Price Index (measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation) Higher than Expected. Setting a new high since January 2015

Eyes on today release: U.K. Retail Sales

USD

Recent Facts:

21st of July 2016, Existing Home Sales Better than Expected. Setting a new high since August 2015, which was the highest value of the last 6 years

29th of July, Gross Domestic Product QoQ (preliminary) Worse than Expected. Actual = +1.2% Expectations were at +2.6%

3rd of August, ADP Nonfarm Employment Change Better than Expected. Continuing the up-trend from last May

5th of August, Nonfarm Payrolls and Unemployment Rate Nonfarm Payrolls Better than Expected (for the second month in a row), Unemployment Rate pared

9th of August, United States Nonfarm productivity Worse than Expected

12th of August, U.S. Retail Sales (essential for a better understanding of the Fed’s future interest rates policies) Worse than Expected

16th of August, Building Permits Worse than Expected

17th of August, FOMC Meeting Minutes (U.S.A.) Economists see the December meeting as the most likely time for a rate increase since it follows the U.S. presidential election

AUD/USD

AUD/USD Daily Chart

Weekly Trend: Neutral 1st Resistance: 0.7690 2nd Resistance: 0.7916 1st Support: 0.7510 2nd Support: 0.7420 3rd Support: 0.7200

AUD

Recent Facts:

19th of July 2016, Reserve Bank of Australia MeetingPossible further easing in the next month to counteract the negative shock from the Brexit vote

26th of July, CPI (key inflation data in Australia) pared

2nd of August, Interest Rates decision cut to from 1.75% to 1.50% as Expected

4th of August, Retail Sales (Jun) Worse than Expected

11th of August, Reserve Bank of New Zealand’s rate statement Interest rates cut (to 2%) as Expected

18th of August, Employment Change Better than Expected. Highest since the beginning of this year

USD

Recent Facts:

21st of July 2016, Existing Home Sales Better than Expected. Setting a new high since August 2015, which was the highest value of the last 6 years

29th of July, Gross Domestic Product QoQ (preliminary) Worse than Expected. Actual = +1.2% Expectations were at +2.6%

3rd of August, ADP Nonfarm Employment Change Better than Expected. Continuing the up-trend from last May

5th of August, Nonfarm Payrolls and Unemployment Rate Nonfarm Payrolls Better than Expected (for the second month in a row), Unemployment Rate pared

9th of August, United States Nonfarm productivity Worse than Expected

12th of August, U.S. Retail Sales (essential for a better understanding of the Fed’s future interest rates policies) Worse than Expected

16th of August, Building Permits Worse than Expected

17th of August, FOMC Meeting Minutes (U.S.A.) Economists see the December meeting as the most likely time for a rate increase since it follows the U.S. presidential election

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