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Daily economic digest from Forex.ee

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The EUR/USD pair remains under bearish control for the fourth consecutive session, as uncertainty on the political field of Spain drags the euro lower against its main competitors. Yesterday Catalonia leader Carles Puigdemont failed to provide more clarity on the current situation, so the Spanish government gave him more time to decide on whether he wants to declare the independency of Catalonia or not. Moreover, continuing optimism around the US dollar remains one of the key driving factors across the market so far this week, which also negatively affects the pair. On the data front, now investors are looking forward to the release of the German ZE surveys and Eurozone final CPI report, which will be able to set up pair’s next trajectory, while the US calendar will offer only secondary data reports during the NA session, leaving the pair at the mercy of broad market trend.

 

The GBP/USD pair shows subdued trading dynamics on Tuesday, wobbling near the level of 1.3250, as investors remain in anticipation of crucial data from the UK economy. However, the pair continues to stay under pressure so far this week, as renewed jitters around Brexit are weighing the UK currency. Seems that the UK and EU are still struggling to make any progress in the Brexit negotiations, thus easing market expectation of positive Brexit deal. Adding to this, upbeat sentiments around the US dollar and easing demand for higher-yielding currencies are also exerting negative pressure on the pair lately. It is expected that today we will have pretty volatile session, as the UK economic calendar will bring crucial inflation data and BoE Governor M.Carney will deliver a speech, where his comments regarding further monetary policy tightening measures will be highly influential for the pound.

 

The AUD/USD pair managed to bounce off its intraday lows, marked at 0.7835 level, however, remaining under pressure on the back of several bearish factors. Earlier this session the pair received moderate bearish impetus after RBA published protocols from its last meeting. The Bank once again reiterated its position that any monetary policy tightening measures would depend only on domestic economic conditions, and not on broad interest rate increase. Also the RBA members also showed worries about still high Aussie, which negatively affects inflation and global economic growth pace. Moreover, ongoing recovery of the US dollar and reduced risk appetite also contributed to pair’s decline. Looking ahead, the US economic calendar will continue to keep silence today, so the broad market trend and the US dollar price dynamics will continue to navigate the pair throughout this session.

 

The dollar/yen pair alternates gains with losses on Tuesday, having been stuck between bulls and bears. Earlier today, the yen received bearish impetus after North Korea’s deputy UN envoy Kim In-ryong stated, that his country would not give up nuclear weapons, since this is a justified measure of self-defense. Also he noted that no country in the world has been exposed to such an extreme and direct nuclear threat from the US for so long, and the situation on the Korean Peninsula has reached “the touch-and-go point and a nuclear war may breakout at any moment”. As a result, a massive wave of risk-off sentiments approached the market, boosting the demand for safe-haven assets, such as the yen. On the other hand, the US dollar continues to recover its positions across the market after disappointing Friday’s inflation figures that is capping pair’s retreat. Today the US calendar won’t bring anything noteworthy, so markets will pay close attention to any headlines from North Korea for further momentum.

 

The main events of the day:

UK CPI – 11.30 (GMT +3)

German ZEW Economic Sentiment – 12.00 (GMT +3)

EU CPI – 12.00 (GMT +3)

BoE Governor M.Carney’s Speech – 13.15 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1759 R. 1.1839

USDJPY                 S. 111.41 R. 112.67

GBPUSD               S. 1.3174 R. 1.3348

USDCHF               S. 0.9711 R. 0.9791

AUDUSD              S. 0.7815 R. 0.7907

NZDUSD               S. 0.7137 R. 0.7213

USDCAD               S. 1.2416 R. 1.2608

 

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OCTL2P Installation and Activation Print

One Click Trading Level2 Plugin

One Click Trading is a very important and useful tool developed on the basis of Level2 application. One Click Trading makes it very easy to monitor the markets and react to the market changes on time. One click is enough to catch the best price and make a beneficial trade.

Installation and activation

To install OCTL2P you should download setup file to your computer and run it to start the installation. Click Next in the installation dialog box. Before installing OCTL2P we suggest you close all running applications including MT4 terminals.

Read the license agreement, select the check box I accept the agreement and click Next to proceed.

Indicate directory where you previously installed MetaTrader 4. To start the installation click Install.

When the installation process is finished, the Next button will be activated.

Click Finish to close the installation dialog box. Activate Launch MT terminal option if you want MT4 launched after you click Finish.

Before you activate OCTL2P, please, check the settings: launch the MT4 trading platform, from main menu choose Tools → Options, in the opened window select the Expert Advisors tab and switch on the Allow automated trading and Allow DLL imports options and click OK.

To activate the Expert Advisor in the Navigator window, click Expert Advisors. Installed EA should be seen in the list. Double-click on OneClickTradingLevel2 or simply drag and drop it onto the chart. Click OK.

If the EA is activated successfully, a smiley will be seen in the top right corner of the chart.

MT4 Installation Print

Trading platform MetaTrader 4

Metatrader 4 is a modern and easy-to-use trading platform for online trading. It ensures round-the-clock access to financial markets and market information as well as quick order execution. With Metatrader 4 traders may take advantage of using Expert Advisors, Indicators and develop their own trading strategies.

System requirements: Microsoft® Windows® XP or later.

Installation

To install Trading platform ForexEE MT4 you should download setup file to your computer and run it to start the installation. Click Next in the installation dialog box.

Read the license agreement, select the check box Yes, I agree with all terms of this license agreement and click Next to proceed.

Please indicate installation directory for MetaTrader4 and choose name for Start Menu folder Start → All Programs. We recommend using the default installation settings. Also select a relative check box if you want to Create a desktop shortcut, Оpen MQL5.community website or Launch program after successful installation. Click Next.

Now the program is downloading all necessary files from our server and installing them on your PC. Click Finish when installation is complete. Congratulations! MT4 has been successfully installed on your computer.

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