Free Urdu Daily Forex Market News 07/11/2016
EUR USD News
The EUR market increased +1.11% against the USD on Friday. EUR USD market closed on Friday at 1.1140. Today market will range 1.1055 – 1.1141.
Today the EUR / USD started with -0.64% in Asia, down from Friday close. The EUR USD is trading now at 1.1068.
EUR/USD recovered at the beginning of November. EUR/USD had a highly productive time last week as it climbed to its highs over the last 3 weeks.
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Daily Support and Resistance:
Daily Camarilla Forex Technical analysis shows that, the EUR/USD pair may find the immediate support at 1.1091 below which 1.1088 and 1.1084 could be tested. On the other side the immediate resistance 1.1099 and may go for further test 1.1102. A break beyond the last, doors will open for a test of 1.1106
Today EURUSD Investors will look forward to the following economic data (GMT+3):
1. EUR – German Factory Orders m/m at 10.00 AM
2. EUR – Retail PMI at12.10 pm
3. EUR – Sentix Investor Confidence at 12.30 pm
4. EUR – Retail Sales m/m 1.00 pm
5. EUR – Eurogroup Meetings ( All day )
GBP USD News
GBP increased +3.02% against the USD and market closed at 1.2517 on Friday.
Today the GBP / USD started with -0.70% down from Friday closes. The GBP / USD is trading now at 1.2431. Last week was the best week for the GBP/USD since February. GBP/USD closed just above the 1.25 level. There are 8 events on the schedule this week.
The BoE revised upwards its forecast for economic growth, essentially acknowledging that its earlier forecasts of Brexit were far too pessimistic. The BoE also held interest rates at 0.25%, helping fuel the pound’s surge. US Non-Farm Payrolls were upbeat and wage growth improving to 0.3%, above the estimate of 0.2%. The Fed refrained from raising rates last week, but the policy statement was slightly hawkish, as the Fed gave the economy a solid report card.
Daily Support and Resistance:
Daily Camarilla Forex Technical analysis shows that GBP/USD pair may find the immediate support at 1.2484 below which 1.2481 and 1.2478 could be tested. On the other side the immediate resistance 1.2490. A break beyond the last, doors will open for a test of 1.2493 and from there to 1.2496.
Upcoming Important Economic News: (GMT +3)
1. GBP – Halifax HPI m/m at 11.30 AM
USD JPY News
The JPY declined -0.26% against the USD during USA session on Friday and the pair was closed at 103.09 on Friday.
Today Day’s Range 103.79 – 104.58
Today the USD / JPY started with +1.27%, down from Friday close. The USD / JPY is trading now at 104.40.
USD/JPY dropped 150 points last week, as the pair closed just above the 103 level. There are 5 events this week, as well as US election going to be held on Tuesday 8th, November 2016.
The Fed refrained from raising rates last week, but the policy statement was slightly hawkish, as the Fed gave the economy a solid report card. US Non-Farm Payrolls were upbeat and wage growth improving to 0.3%, above the estimate of 0.2%. The BoJ stood pat and kept rates at -0.10%.
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Daily Support and Resistance:
Daily Camarilla Technical analysis shows USD/JPY pair may find the immediate support at 103.20 below which 103.09 and 102.98 could be tested. On the other side the immediate resistance 103.42. A break beyond the last, doors will open for a test of 103.53 and from there to 103.64.
Upcoming Economic News: (GMT +3)
1. USD – Labor Market Conditions Index m/m at 6.00 pm
2. USD – Loan Officer Survey
3. USD – Consumer Credit m/m 11.00 pm
4. JPY – Monetary Policy Meeting Minutes at 2.50 PM
5. JPY – Average Cash Earnings y/y at 3.00 AM
104.56 below which 104.54 and 104.51 could be tested. On the other side the immediate resistance 104.60. A break beyond the last, doors will open for a test of 104.62 and from there to 104.65.
