| 23 February 2016, Time of Writing: 09:00 am |
Trader Daily Market Update |
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| Major Calendar News |
| Time (GMT) | Name | Country | Vol. | Prev. | Cons. | Sentiment |
|---|
| 09:00 | German Ifo Business Climate | EUR | High | 107.3 | 107.0 | Negative | | 10:00 | Inflation Report Hearing | GBP | High | - | - | Neutral | | 15:00 | CB Consumer Confidence | USD | High | 98.1 | 97.4 | Neutral | | 15:00 | Existing Home Sales | USD | Med. | 5.46M | 5.37M | Neutral | | 17:00 | MPC Member Haldane Speech | GBP | Med, | - | - | Neutral | | 00:30 (24/02) | Wage Price Index q/q | AUD | Med. | 0.6% | 0.6% | Neutral | | 01:30 (24/02) | FOMC Member Fischer Speech | USD | Med. | - | - | Neutral |
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| Vol.: Volatility; Prev.: Previous; Cons.: Consensus |
| Key Support/Resistance Levels |
| H4 | R2 | R1 | Pivot | S1 | S2 |
|---|
| EURUSD | 1.1173 | 1.1108 | 1.1055 | 1.0990 | 1.0937 | | GBPUSD | 1.4393 | 1.4267 | 1.4161 | 1.4032 | 1.3929 | | USDJPY | 113.88 | 112.99 | 112.50 | 111.60 | 111.10 | | AUDUSD | 0.7299 | 0.7262 | 0.7208 | 0.7172 | 0.7119 | | USDCAD | 1.3834 | 1.3774 | 1.3716 | 1.3657 | 1.3601 |
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| Latest News |
The Pound was down 2.4% versus the USD at one point yesterday, before recovering slightly after David Cameron’s speech in parliament reiterated his stance for the UK to remain in the Eurozone. The Euro similarly followed the Pound’s fall, though to a lesser extent, dropping by nearly 1% following comments from Finland’s ECB member stating “we’re ready to do more at the March meeting”. Lastly, USDJPY breached the 112 handle as a reversal in risk-sentiment had most of the Asian markets close in negative territory this morning. Germany is scheduled to release business climate data this morning, projected to remain relatively unchanged at 107 vs last month’s 107.3 figure. Today’s inflation hearing out of the UK however will take centre stage, given the uncertainty generated over its future membership in the EU. Lastly, the US will publish consumer confidence figures and existing home sales, both expected to have declined month-over-month. |
| Daily Technical Analysis |
| | Summary: | Trend: | Momentum: | Daily Target: | Volatility (14D): |
|---|
| EURUSD | SELL | SELL | SELL | 1.0985 | 96 Pips | | GBPUSD | SELL | SELL | SELL | 1.4030 | 165 Pips | | USDJPY | SELL | SELL | SELL | 111.10 | 138 Pips | | AUDUSD | BUY | BUY | BUY | 0.7295 | 89 Pips | | USDCAD | SELL | SELL | SELL | 1.3645 | 139 Pips |
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| Daily Technical Analysis is conducted using proprietary technology based on advanced methods of time-series analysis and custom build technical indicators. Detailed quantitative analysis of the market state on different timeframes let us accurately evaluate current Trend and Momentum. Going further we deduce the daily target from the multiple factors such as long and short term momentum, different volatility measures, mode of market behaviour and other characteristics. For a ranged market we will show a range instead of a single number. |
| Daily Forecasts |
| | Spot Price* | Last Update | 1 Day | 1 Week | 1 Month |
|---|
| EURUSD | 1.1044 | 22/02/2016 | 1.0975 | 1.10 | 1.09 | | GBPUSD | 1.4121 | 22/02/2016 | 1.4035 | 1.41 | 1.42 | | USDJPY | 112.36 | 22/02/2016 | 111.65 | 113 | 115 | | AUDUSD | 0.7230 | 22/02/2016 | 0.7200 | 0.70 | 0.69 | | USDCAD | 1.3710 | 22/02/2016 | 1.3780 | 1.39 | 1.40 |
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*spot prices as of 07:00GMT Daily Forecasts consists of both technical and fundamental analysis as well as a review of open sources from major FX contributors. |
