Thursday 7th March: ECB Rate Decision & Press Conference takes centre stage today – the general message should remain cautious.
The Australian economy grew by 0.2% in seasonally adjusted chain volume terms in the December quarter, missing a consensus reading of 0.5%. The after-effects witnessed the commodity-linked currency cede ground against its US counterpart Wednesday, consuming H4 support at 0.7060
Wednesday 6th March: Greenback reigns supreme for a fifth consecutive day; eyeing a close above 97.00.
Tuesday’s headline seasonally adjusted IHS Markit/CIPS UK services PMI business activity Index registered 51.3 in February, up from a two-and-a-half year low of 50.1 in January.
Tuesday 5th March: BoE Gov. Carney due to testify before the House of Lords, in London
EUR/USD: Despite substandard lower-tier data out of the US, the greenback […]
Monday 4th March: Weekly technical outlook and review.
The US ISM manufacturing PMI fell into contraction Friday, with all of the major components falling and/or missing expectations. The impact of the report sent H4 flow through 1.14, though swiftly pared gains at 1.1408 as the dollar recovered, buoyed by increasing US Treasury yields.
Friday 1st March: Slew of high-impacting macroeconomic data eyed today – volatility expected.
Underpinned by a better-than-expected US growth reading as well as an upbeat Chicago PMI, the US dollar index advanced to a high of 96.28 Thursday, registering its second consecutive daily gain.
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Thursday 28th February: Month-late US GDP data eyed in early US hours.
The value of the euro weakened against its US counterpart Wednesday, snapping a two-day bullish phase. A revival of USD bidding, driven by advancing US Treasury yields, weighed on the EUR/USD.
Wednesday 27th February: Canadian inflation eyed in early US trade – remain vigilant.
Pressured by declining US Treasury yields, the US dollar Index (calculated by factoring in the exchange rates of six major world currencies) extended losses Tuesday, shaking hands with its lowest level in three weeks at 95.95.
Tuesday 26th February: Fed Chair Powell testifies in early US hours – remain vigilant around this time, traders.
Sterling marginally breached 1.31 to the upside Monday and tested February’s opening level plotted nearby at 1.3108 (H4), following news UK Labour would support a second referendum should the Brexit deal be rejected this week.
