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2. www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date –07– July
INTERNATIONAL CURRENCY BUZZ
EUR/USD
GBP/USD
The pound bounced off fresh 31-year lows against the U.S. dollar on Wednesday, but still re-
mained below the $1.30 threshold amid mounting concerns over the effects of the Brexit vote
on the British economy.GBP/USD hit 1.2797 during European morning trade, a fresh 31-year low;
the pair subsequently consolidated at 1.2937, down 0.64%.The pound came under broad selling
pressure after the Bank of England warned on Tuesday of “challenging” risks to financial stability
following the Brexit vote and eased regulatory requirements on the banking sector.BoE Gover-
nor Mark Carney said the move represented a "major change" that would help the economy to
cope with the Brexit consequences.In its bi-annual financial stability report, the BoE said the
risks it had feared ahead of the Brexit poll had started to materialise, as sterling plunged to 31-
year lows and as financial stocks tumbled 20%.
EUR/USD is showing little movement on Wednesday, following losses in the Tuesday session. The
pair is trading at 1.1060. On the release front, German Factory Orders disappointed with a flat
reading of 0.0%, shy of the estimate of 1.0%. The US will release ISM Non-Manufacturing PMI,
with the estimate standing at 53.3 points. The spotlight will be on the central banks, as ECB Presi-
dent Mario Draghi addresses an ECB event in Frankfurt, while the Federal Reserve will release the
minutes of its June policy meeting. On Thursday, employment numbers will be in focus, with the
release of ADP Nonfarm Employment Change and Unemployment Claims.
Forex - Pound off fresh 31-year lows but below $1.30
Forex - Aussie and kiwi move lower as Brexit fears persist
Forex - Pound drops over 1% in Asia on Brexit views, yen soars
3. Iforex Market Insight
Date – 07– July
www.epicresearch.sgIforex Market Insight Report By Epic Research Singapore
ECONOMIC CALENDAR
Time Cur. Event Forecast Previous
Thursday, July 7, 2016
All Day Holiday Malaysia - Hari Raya Puasa
06:00 JPY BoJ Governor Kuroda Speaks
12:45 CHF CPI (MoM) (Jun) 0.1% 0.1%
13:00 GBP Halifax House Price Index (MoM) (Jun) 0.4% 0.6%
13:00 GBP Halifax House Price Index (YoY) (Jun) 7.7% 9.2%
14:00 GBP Industrial Production (MoM) (May) -1.0% 2.0%
14:00 GBP Manufacturing Production (MoM) (May) -1.0% 2.3%
17:00 EUR
ECB Publishes Account of Monetary Policy Meet-
ing
17:45 USD ADP Nonfarm Employment Change (Jun) 159K 173K
18:00 USD Initial Jobless Claims 270K 268K
19:30 GBP NIESR GDP Estimate 0.5%
20:30 USD Crude Oil Inventories -2.500M -4.053M
20:30 USD Cushing Crude Oil Inventories -0.951M
4. Iforex Market Insight
www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
EUR/USD HOURLY CHART
BUY GBPUSD ABOVE 1.3000 TGT 1.3020 1.3050 SL 1.2970
SELL GBPUSD AROUND 1.3196 TGT 1.3176 1.3146 SL 1.3226
GBP/USD HOURLY CHART
BUY EURUSD AROUND 1.1080 TGT 1.1100 1.1130 SL 1.1050
SELL EURUSD BELOW 1.1040 TGT 1.1010 1.0980 SL 1.1070
Date – 07– July
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