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09 02 01:02
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Daily economic digest from Forex.ee

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The EUR/USD pair trades with mild bullish bias at the last trading day of this week, having stalled its recent retreat, on the back of subdued dynamics of the US dollar. Today the key driving factor for the pair remains news coming from the US political area. Earlier today, on the market appeared headlines about another shutdown of the US government. This news negatively affected positions of the US dollar against its major rivals, as it is the second similar incident this year. Moreover, deteriorating investors’ appetite for riskier assets also has somewhat supported the common currency, thus having accelerated pair’s recent rebound. Today, nothing interesting is scheduled in the economic calendar, so broad market trend will continue to determine pair’s further trajectory at the end of this week.

 

The GBP/USD pair remains positive today, again entering the area of 1.4000. Yesterday the pair received notable bullish impetus, following the outcome of the BoE meeting and hawkish comments of Mr.Carney, made during the accompanying press conference. Yesterday the Bank clearly signaled the need to increase the interest rate, which can now happen earlier than forecasted after November meeting. Moreover, during the subsequent press conference, the head of the regulator also noted the need of monetary policy tightening measures, as the UK economy comes in line with Bank’s forecasts that makes markets think about two rate hikes during this year. Regarding hawkish comments, we can outline that Mr.Carney still sees Brexit as a source of uncertainty for the economy. However, the pair failed to keep positions near its yesterday’s highs and trimmed some of its gains, as strong risk-off sentiments negatively affected the pound. Now all traders’ attention remains focused on the bloc of UK releases, featuring manufacturing production data, which is the only market-moving event for today, so the pair will continue to follow broad market trend ahead after data release.

 

The NZD/USD pair has stalled its yesterday’s rebound from its monthly lows, marked at 0.7177 after sharp drawdown following dovish RBNZ meeting’s outcome. Recall, on Wednesday the Kiwi came under strong selling pressure on the back of downgrade of regulator’s projections on inflation and GDP. Moreover, dovish comments of Bank’s authorities also added some negative pressure to the pair. However, the pair managed to correct higher during previous trading session in wake of subdued dynamics of the US dollar. But still the pair continues to stay under moderate pressure this Friday due to persisting risk-off sentiments, which were additionally boosted by weaker-than-expected Chinese CPI data. Looking ahead, today the US calendar will again leave investors without any relevant data release, so the pair will continue to follow broad market trend at the end of this week.

 

The USD/JPY pair found some support in the early Asian session and now again came above the level of 109. However, further upside of the pair looks limited on the back of several factors, which are weighing the pair this Friday. First, better demand for safety, additionally boosted by negative Chinese inflation data, remains supportive for the yen today. Second, sluggish activity of the US dollar in wake of renewed US political drama also negatively affects the pair at the end of this trading week. In the day ahead, the US data calendar won’t surprise traders with any market-moving data releases, so the pair most likely will regain its downside trend on the back of broad market sentiments, backed by strong risk aversion.

 

Major events of the day:

UK Manufacturing Production – 11.30 (GMT +2)

Canada Employment Change – 15.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2167 R. 1.2333

USDJPY                 S. 107.82 R. 110.24

GBPUSD               S. 1.3719 R. 1.4161

USDCHF               S. 0.9279 R. 0.9509

AUDUSD              S. 0.7732 R. 0.7868

NZDUSD               S. 0.7144 R. 0.7278

USDCAD               S. 1.2520 R. 1.2654

 

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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.

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

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

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

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

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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.

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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.

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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.

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

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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.

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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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