Daily Economic Digest from Forex.ee

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Friday, December 9

Today Bears on
Euro We took a breather during
Asian session, allowing the EUR / USD pair to consolidate its
level position in the 1.0615 area. Yesterday, the main currency pair has fallen more than
2 cents after the ECB announced its intention to extend its program
quantitative easing. The program will be expanded in the period from March, and how
at least until December of next year, but will be reduced and the monthly
asset purchases from 80 to 60 billion euros. Following the statement, the pair fell sharply,
updating its 4-day low level of 1.06 area. Today, the pair will continue
traded under bearish pressure as market participants still "digest"
yesterday's decision by the ECB, especially in light of speculation to raise interest
Fed next week.

yesterday the pair GBP / USD refreshed weekly lows at around
1.2549 after the ECB meeting and subsequent press conference, having lost all their
positions acquired in the course of last week. Nevertheless managed to pound
recover some of their losses, while encountering resistance near the level of
1.2600. Today, in the absence of fundamental releases the pair will continue to trade
in the red zone, as the US dollar improved the mood still has
a significant impact on a pair.

The pair USD / CHF consolidated its rise yesterday
and is now trading in the narrow range of 25 pips. Yesterday, following the general market
sentiment, pair rebounded from its 7-week lows, located on the
around 1.0020, to the level of 1.0178, after it became known that the ECB intends to
to extend its quantitative easing program by December next year. More
of yesterday's data from the US labor market, which reached as forecasts
We added some bullish pressure from the dollar, strengthening expectations
investors about the Fed raising interest rates next week.

One of the most imperturbable
steam vapor remains today USD/ CAD, which
He ignored the widespread sentiment associated with yesterday's ECB meeting.
Today the pair has once again updated its 7-week low, dropping
below 1.3200, as bulls Canadian supported higher
Oil prices are still in a fighting mood. The pair
It is trading near the 1.3190 mark, while remaining unable to break through
resistance, located at the level of 1.32. Nevertheless, expectations for
decision on the interest rate the Fed, which will take place next week,
limit further reduction pair.

main
events of the day:

UK trade balance - 11.30 (GMT +2).

Preview. consumer sentiment index of Michigan
University - 17.00 (GMT +2)

levels
Support and resistance for the major currency pairs:

EURUSD P.
1.0419 C 1.0969

USDJPY P.
112.57 115.09 C.

GBPUSD P.
1.2457 C 1.2769

USDCHF P.
0.9961 C 1.0277

AUDUSD 0.7387 P.
S. 0.7545

NZDUSD P.
0.7103 C 0.7257

USDCAD P.
1.3140 C 1.3274

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