Daily Afternoon Report & Daily Technical Levels 20/08/2015

Daily Afternoon Report 20.08.2015

The Canadian dollar moved higher against the broadly softer greenback on Thursday as investors pushed back expectations on the timing of an initial rate hike by the Federal Reserve, while upbeat domestic data also boosted the loonie. USD/CAD slid 0.21% to 1.3099 in early trade, off highs of 1.3175. The U.S. dollar turned broadly lower after the minutes of the Fed’s July meeting indicated that there was little consensus on when to start raising interest rates. The minutes showed that Fed officials believe the economy is nearing the point where interest rates should move higher, but noted that the subdued inflation outlook inflation and weakness in the global economy could still pose risks to the U.S. economic outlook. Data on Thursday showed that the number of Americans who filed for unemployment assistance rose by 4,000 to a seasonally adjusted 277,000 last week, holding close to the lowest levels since late 1973. The US dollar index, which tracks the greenback against a basket of six major rivals, was last down 0.25% to 96.19, after ending the previous session down 0.7%. The Canadian dollar received an additional boost after data showed that Canadian wholesale sales rebounded in June following a drop in the previous month. Statistics Canada reported that wholesale sales rose 1.3% in June, outstripping economists’ forecasts for a 1.0% increase. May’s decline was revised down to 0.9% from 1.1% initially. Meanwhile, oil prices held near multi-year lows on Thursday amid concerns over the global supply glut and the subdued demand outlook. Falls in oil prices have put pressure on Canada’s economy, which is struggling to shake off the recessionary effects of low oil prices.

 

20.08.2015 – 16:35 GMT+3

Daily Technical Levels

EUR/USD

GBP/USD

USD/JPY

AUD/USD

USD/CAD

USD/CHF

R3:

1,1241

1,5739

124,58

0,7394

1,3186

0,9715

R2:

1,1206

1,5704

124,23

0,7359

1,3151

0,9680

R1:

1,1181

1,5679

123,98

0,7334

1,3126

0,9655

S1:

1,1151

1,5649

123,68

0,7304

1,3096

0,9625

S2:

1,1126

1,5624

123,43

0,7279

1,3071

0,9600

S3:

1,1091

1,5589

123,08

0,7244

1,3036

0,9565