07 March 2016, Time of Writing: 09:00 am | |||||||||||||||||||||||||||||||||||||||||||||||||
Trader Daily Market Update | |||||||||||||||||||||||||||||||||||||||||||||||||
Major Calendar News | |||||||||||||||||||||||||||||||||||||||||||||||||
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Vol.: Volatility; Prev.: Previous; Cons.: Consensus | |||||||||||||||||||||||||||||||||||||||||||||||||
Key Support/Resistance Levels | |||||||||||||||||||||||||||||||||||||||||||||||||
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Latest News | |||||||||||||||||||||||||||||||||||||||||||||||||
The Aussie opened with a small gap lower this morning, following China’s economic announcements over the weekend which included lowered growth forecast of 6.5-7% and new reforms in order to stimulate the slowing economy. Elsewhere, Friday’s large NFP beat was not enough to save the USD, as a surprise contraction in wage growth for the first time since late 2014 damped investors’ expectations over when the next interest-rate hike from the FED will occur. Today’s economic calendar is fairly slim, with only the US scheduled to publish labour market conditions later this afternoon. Besides this, Eurogroup meetings will be held throughout the day, in addition to the BOE’s MPC member Haldane’s speech and finally the FED’s Brainard and Fisher talking later this evening. | |||||||||||||||||||||||||||||||||||||||||||||||||
Daily Technical Analysis | |||||||||||||||||||||||||||||||||||||||||||||||||
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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 | |||||||||||||||||||||||||||||||||||||||||||||||||
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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. |
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