Forex broker Forexee
07 03 12:03
SHARE
Back to list

Daily economic digest from Forex.ee

RSS

 

The EUR/USD pair remains better bid this Wednesday, extending its bullish trend for the fifth consecutive session. The latest positive dynamics of the pair could be explained by concerns over global trade war. Recall, recently the US President D.Trump announced that the US would impose steep tariffs on steel and aluminum imports, which sparked wide speculations regarding potential trade war, thus negatively affecting the US dollar positions. And now, Donald Trump’s chief economic adviser, Gary Cohn, announced his resignation, the reason for which were the recent Trump’s tariff plans, since Mr.Cohn was a supporter of free-trade. However, it is expected that the pair won’t show any volatile moves during this session, as markets await for the ECB meeting, which will take place already tomorrow. Likely the ECB will leave its rate unchanged, however, any comments regarding further QE program will have notable impact on the common currency. But today the EU economic calendar will bring us only secondary data reports, while the US will release ADP nonfarm employment change, which is often considered as pre-NFP data.

 

The USD/CAD pair shows positive dynamics this Wednesday, remaining within striking distance of its multimonth highs, marked earlier this week at 1.3000 spot. The key reason of offered tone around the Loonie could be called resign of President’s chief economic advisor – Gary Cohn that underpinned market fears of global trade war and brought fresh uncertainty over NAFTA negotiations. Mr.Cohn’s resign is mostly explained by D.Trump’s metal tariff plans, which go against Cohn’s free-trade stance. However, seems that the pair entered consolidation phase ahead of BoC interest rate decision. There won’t be a press conference after the meeting, so we won’t hear any comments from BoC officials, while investors will digest BoC Rate Statement for any details regarding Bank’s monetary policy actions. Besides the BoC meeting, investors will also pay attention to data from the US labor market, which will bring additional trading opportunities during the NA session.

 

The GBP/USD pair stalled its upside trend in the middle of the week, after four consecutive days at a profit. It seems that ongoing flow of positive data from the UK economy and hawkish tone of the BoE, with markets widely expecting the UK’s central bank to increase interest rates by this May, push the pound higher against its major rivals. However, the UK currency is still being weighed by Brexit concerns, as there is still no any sustainable progress in the Brexit negotiations. Recall, last Friday UK PM T.May gave a speech, where she was supposed to give more clarity on her negotiation strategy, but the market didn’t receive all answers, so there are still many reasons to fear “hard” Brexit. On the data front, today the UK economic calendar will remain silent, while the US will release data from the labor market, which will bring fresh trading opportunities during NA session.

 

The AUD/USD pair was trading back and forth this Wednesday, as we saw pretty eventful Asian session. In early Asia, the pair came under notable bearish pressure on the back of dovish rhetoric of RBA Governor Philip Lowe, who reiterated that Australia is still lagging behind global growth trends due to disappointing prospects of housing and labor markets. Moreover, weak Australia’s GDP numbers also added some negative pressure to the pair in the first half of the Asian trading session. However, the pair managed to regain its positive tone and to recover part of its losses, following Gary Cohn’s announcement that he is resigning from the White House as a top economic advisor to Donald Trump. This news have triggered broad demand for risky assets, which positively affected the Aussie as a higher-yielding currency. In the day ahead, investors’ attention will be attracted by ADP nonfarm employment change numbers, which are often treated as the preliminary data of the main report from the US labor market.

 

Major events of the day:

US ADP Nonfarm Employment Change – 15.15 (GMT +2)

BoC Interest Rate Decision – 17.00 (GMT +2)

Crude Oil Inventories – 17.30 (GMT +2)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.2291 R. 1.2477

USDJPY                 S. 105.53 R. 106.75

GBPUSD               S. 1.3764 R. 1.3990

USDCHF               S. 0.9334 R. 0.9454

AUDUSD              S. 0.7722 R. 0.7894

NZDUSD               S. 0.7185 R. 0.7365

USDCAD               S. 1.2777 R. 1.3043

 

Follow us on Facebook to stay up-to-date with important events on Forex market.

The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!

 

Your European ECN-broker,

Forex.ee

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.

Forex broker

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

Forex broker Forexee

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

Forex broker

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

Forex broker Forexee

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

Forex broker Forexee

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.

Forex broker Forexee

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.

Forex broker

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.

Forex broker

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

Forex broker

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.

Forex broker

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.

Forex broker Forexee

  • Analytics
  • Trading
  • PAMM service
  • CAMPAIGNS
  • Payments
  • Partnership
  • About