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13 06 11:06
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Daily economic digest from Forex.ee

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The EUR/USD pair remains flat this Wednesday, trading in the region of 1.1735-55 in anticipation of key events. Yesterday the pair came under notable bearish pressure on the back of series of weak ZEW economic surveys and upbeat US inflation figures. However, the pair managed to recover some pips after yesterday’s retreat and consolidate its positions within recent range amid broad cautiousness ahead of FOMC and ECB meetings, which will be able to bring divergence between regulators’ policies back into the play. For the most of the market today’s Fed rate hike remains a done deal, so investors will pay attention to the Fed’s forward guidance, especially taking into account recent series of strong US macro data. Today the EU data calendar won’t offer us anything relevant, so investors will focus their attention on the key event of this Wednesday – the FOMC meeting, which will be able to spark some volatility across the market during the NA session.

 

The GBP/USD pair extends its downside trend for the fourth consecutive session, now trading in the region of its weekly lows, marked on the level of 1.3320 a day before. Yesterday the pair failed to develop its bullish momentum, despite positive UK data from the labor market and the rejection of the key amendments during the Brexit vote in the UK parliament. Yesterday the House of Commons rejected a key article that would allow parliament to decide the next course of negotiations, thereby supporting the government and leaving UK PM Theresa May in charge of further negotiations with the EU. This outcome of the Brexit vote positively affected the Sterling, as it somewhat reduces the uncertainty in further negotiations. However, the pair failed to keep its positive mood, as US bull took the control over the pair after the US published important CPI report, which came above market expectations. Today the pair will experience a busy data session, as the economic calendar will bring us the UK CPI and US PPI figures, while the Fed interest decision will hog the limelight in the NY afternoon.

 

The USD/JPY pair remains better bid in the middle of the week, having reached its 3-week highs on the level of 110.69 during the Tokyo session. Recall, yesterday in Asia the pair came under bullish control on the back of improved risk appetite, underpinned by headlines that leaders of the US and North Korea signed a document, which provides for denuclearization of the Korean peninsula and the lifting sanctions from the US side. In addition, during yesterday’s NA session the pair received additional bullish impetus following positive US inflation figures, which once again fueled market expectations of more aggressive Fed monetary policy. However, further upside trend of the pair looks limited, as markets remain cautious ahead of Fed meeting, which is scheduled for NY afternoon. Moreover, later this week the BoJ monetary policy meeting will also take place, so it is expected that the divergence between the regulators’ policies will again come into play. Besides the FOMC meeting, today the US will also release PPI report, which will be able to offer additional trading opportunities to investors during the NA session.

 

The AUD/USD pair remains pressured this Thursday, having tested its 2-week lows on the level of 0.7556, as Australian bulls remain exhausted. First, today the Aussie received negative impetus, following dovish comments of RBA Governor Phillip Lowe, who sees next cash rate hike some time away, as there is no strong need for any monetary policy adjustments. Moreover, positive rally of the US currency, sparked by yesterday’s positive inflation figures, also drives the pair to the negative territory this Wednesday. And finally, today the market witnessed swing in risk sentiment amid prevailing cautiousness ahead of important Fed monetary policy meeting, where the regulator is expected to increase its interest rate by 25 bps, which in turn negatively affects the higher-yielding Aussie. In addition, today the US will also publish PPI data, however, it is expected that this release won’t be able to cause any notable volatility across the market.

 

Major events of the day:

UK CPI – 11.30 (GMT +3)

US PPI – 15.30 (GMT +3)

US Crude Oil Inventories – 17.30 (GMT +3)

Fed Interest Rate Decision – 21.00 (GMT +3)

FOMC Press Conference – 21.30 (GMT +3)

 

Support and resistance levels for the major currency pairs:

EURUSD               S. 1.1686 R. 1.1838

USDJPY                 S. 109.76 R. 110.80

GBPUSD               S. 1.3296 R. 1.3462

USDCHF               S. 0.9807 R. 0.9915

AUDUSD              S. 0.7528 R. 0.7648

NZDUSD               S. 0.6965 R. 0.7067

USDCAD               S. 1.2948 R. 1.3066

 

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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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