Trader Daily Market Update

Trader Daily Market Update

25 February 2016, 13:24
Mohammed Abdulwadud Soubra
0
64
5 February 2016, Time of Writing: 09:00 am

Trader Daily Market Update

  
Major Calendar News
Time (GMT)NameCountryVol.Prev.        Cons.        Sentiment
09:00M3 Money Supply y/yEURMed.4.7%4.7%Neutral
09:30Second Estimate GDP q/qGBPHigh0.5%0.5%Neutral
09:30Preliminary Business Investment q/qGBPMed.2.2%0.6%Negative
10:00Final CPI y/yEURMed.0.4%0.4%Neutral
10:00Final Core CPI y/yEURMed,1.0%1.0%Neutral
13:30Core Durable Goods Orders m/mUSDHigh-1.0%0.2%Negative
13:30Durable Goods Orders m/mUSDMed.-5.0%3.0%Negative
13:30Unemployment ClaimsUSDHigh262K271KPositive
23:30Tokyo Core CPI y/yJPYMed.-0.1%0.0%Neutral
Vol.: Volatility; Prev.: Previous; Cons.: Consensus
Key Support/Resistance Levels
H4R2R1PivotS1S2
EURUSD1.10941.10541.10061.09641.0916
GBPUSD1.40781.40031.39411.38651.3801
USDJPY112.99112.53111.79111.31110.56
AUDUSD0.72500.72200.71830.71530.7115
USDCAD1.39271.38141.37461.36341.3564
Latest News

Spot oil prices traded within a volatile range yesterday, remaining in negative territory for the majority of the day before erasing losses and finishing the day higher, as crude oil storage data showed a drawdown in gasoline inventories. This volatility spilled over into the USDCAD once again, which was up as much as 0.5% before falling by 1.2% from its highs. Meanwhile, the Pound continued to weaken yesterday, and is slightly lower this morning trading barely above 1.39, as concerns over a possible Brexit intensify. Lastly, the FED’s St. Louis President James Bullard, a long-time hawk, expressed his concerns regarding further rate hikes given the markets uncertainty and declining inflation expectations.

The UK will publish second estimate GDP readings today, forecasted to come in at 0.5% quarter-on-quarter. Shortly after, the Eurozone is set to release final inflation figures anticipated to show a year-on-year growth of 0.4%. Meanwhile, all eyes will be on the US’ release of manufacturing data in the form of durable goods orders, which are expected to have turned positive for the first time in the last three months. Lastly, unemployment claims out of the US are anticipated to have grown slightly to 271K versus last week’s reading of 262K.

Daily Technical Analysis
 Summary:Trend:Momentum:Daily Target:Volatility (14D):
EURUSDNEUTRALSELLBUY1.0950 - 1.110090 Pips
GBPUSDSELLSELLSELL1.3865155 Pips
USDJPYNEUTRALSELLBUY111.00 - 113.00130 Pips
AUDUSDNEUTRALBUYSELL0.7105 - 0.724083 Pips
USDCADSELLSELLNEUTRAL1.3635140 Pips
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 Update1 Day1 Week1 Month
EURUSD1.103123/02/20161.09551.101.09
GBPUSD1.394123/02/20161.38601.411.42
USDJPY112.5523/02/2016111.00113115
AUDUSD0.717423/02/20160.71150.700.69
USDCAD1.371723/02/20161.38151.391.40

*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. 

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