Press review - page 99
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Trading the News: German Unemployment Change (based on dailyfx article)
Another 10.0K drop in German Unemployment may spur a bullish reaction in the EURUSD as it limit’s the European Central Bank’s (ECB) scope to further embark on its easing cycle at the March 6 meeting.
What’s Expected:
Time of release: 02/27/2014 8:55 GMT, 3:55 EST
Primary Pair Impact: EURUSD
Expected: -10K
Previous: -28K
Forecast: -10K to 10K
Why Is This Event Important:
With the ECB interest rate decision quickly approaching, positive developments coming out of Europe’s largest economy may limit the downside risk for the single currency, but the Governing Council may have little choice but to implement more non-standard measures this year amid the persistent threat for disinflation.
How To Trade This Event Risk
Bullish Euro Trade: German Unemployment Falls 10.0K or Greater
- Need green, five-minute candle following the report to consider a long Euro trade
- If the market reaction favors a bullish EURUSD trade, buy with two position
- Set stop at the near-by swing high/reasonable distance from entry with at least 1:1 risk-to-reward
- Move stop to cost on remaining position once initial target is met; set reasonable limit
Bearish Euro Trade: Labor Report Disappoints2013-02-27 07:45 GMT (or 08:45 MQ MT5 time) | [EUR - French Consumer Confidence]
if actual > forecast = good for currency (for EUR in our case)
==========
French Consumer Confidence 85 vs. 86 forecast
French consumer confidence fell unexpectedly last month, official data showed on Thursday.
In a report, INSEE said that French Consumer Confidence fell to 85, from 86 in the preceding month.
Analysts had expected French Consumer Confidence to remain unchanged at 86 last month.
2013-02-27 08:00 GMT (or 09:00 MQ MT5 time) | [EUR - Spain GDP]
if actual > forecast = good for currency (for EUR in our case)
==========
Spanish GDP 0.2% vs. 0.3% forecast
Spain’s gross domestic product rose less-than-expected last month, official data showed on Thursday.
In a report, Instituto Nacional de Estadistica said that Spanish GDP rose to 0.2%, from 0.3% in the preceding month.
Analysts had expected Spanish GDP to rise 0.3% last month.
2013-02-27 13:30 GMT (or 14:30 MQ MT5 time) | [USD - Durable Goods Orders]
if actual > forecast = good for currency (for USD in our case)
==========
U.S. Durable Goods Orders Drop 1% Amid Weak Aircraft Demand
While the Commerce Department released a report on Thursday showing a drop in new orders for U.S. manufactured durable goods in the month of January, orders unexpectedly rose when excluding transportation equipment.
The report said durable goods orders fell by 1.0 percent in January after tumbling by a revised 5.3 percent in December.
Economists had expected orders to drop by about 1.6 percent compared to the 4.2 percent decrease that had been reported for the previous month.
The drop in durable goods orders was largely due to weakness in demand for transportation equipment, which is typically very volatile.
AUDUSD Technical Analysis (based on dailyfx article)
There has been no question that the Australian Dollar is trading in a long-term downtrend against the US Dollar since the pair broke below the 2.5 year low in June of 2013. AUD/USD then continued to set new 3-year lows in January 2014, but only after posting a healthy 50% pullback of the original move lower. However, with a second pullback of the downtrend underway, traders must now consider if and when to enter the possible continuation of the downtrend.
AUD/USD continues to trade above the upper trend channel, the pair tested and failed to break above the 2-month high at .9086, which may scare traders away from trying to place bets on AUD/USD rising further.
Traders looking to short the Aussie against the greenback should wait for a convincing daily close below support by the upward trendline, while those expecting a further pullback to the long-term downward trendline from the weekly chart should wait for a daily close above the January high.
2013-02-28 00:00 GMT (or 01:00 MQ MT5 time) | [NZD - Business Confidence]
if actual > forecast = good for currency (for NZD in our case)
==========
NZ business confidence at highest level in almost 20 years
New Zealand business confidence rose to its highest level in almost 20 years in February, indicating strong economic growth this year.
A net 70.8 percent of firms are optimistic about general business conditions this month, up from 64.1 percent in December and the highest level since March 1994, according to the ANZ Business Outlook survey. The New Zealand dollar jumped as high as 83.95 US cents from 83.61 cents immediately before the 1pm release, and was recently trading at 83.93 cents.
Firms seeing a pickup in their own business activity rose to 58.5 percent from 53.5 percent in December, the highest reading since June 1994. Expected profitability of 44.6 percent is up from 39.7 percent in December and at the highest level since April 1994.
A net 32.4 percent expect to hire more staff, up from 24.7 percent in December and the highest level December 1992, while investment intentions at 35.2 percent is up from a previous reading of 21.8 percent and the strongest since March 1994.
A slowdown in Canada’s Gross Domestic Product (GDP) may heighten the bearish sentiment surrounding the Canadian dollar as it raises the Bank of Canada’s (BoC) scope to cut the benchmark interest rate later this year.
What’s Expected:
Time of release: 02/28/2014 13:30 GMT, 8:30 EST
Primary Pair Impact: USDCAD
Expected: 2.6%
Previous: 2.7%
Forecast: 2.5% to 2.6%
Why Is This Event Important:
In light of the protracted recovery, Governor Stephen Poloz may take additional measures to encourage a ‘soft landing,’ and a material shift in the policy outlook may produce fresh highs in the USDCAD as the Federal Reserve remains poised to discuss another $10B taper in March.
How To Trade This Event Risk
Bearish CAD Trade: GDP Report Shows Marked Slowdown in Growth
- Need green, five-minute candle after the GDP report to consider long USDCAD entry
- If the market reaction favors a short Canadian dollar trade, establish long with two position
- Set stop at the near-by swing low/reasonable distance from cost; use at least 1:1 risk-to-reward
- Move stop to entry on remaining position once initial target is hit, set reasonable limit
Bullish CAD Trade: Growth Rate Rises 2.6% or GreaterPotential Price Targets For The Release
USDCAD M5 : 34 pips price movement by CAD - GDP news event :
2013-02-28 10:00 GMT (or 11:00 MQ MT5 time) | [EUR - CPI]
if actual > forecast = good for currency (for EUR in our case)
==========
Eurozone Inflation Remains Stable In February
Eurozone inflation came in at 0.8 percent for the third consecutive month in February, flash estimate from Eurostat showed Friday. The rate was forecast to slow to 0.7 percent.
Inflation has stayed below the European Central Bank's target of 'below, but close to 2 percent' for the thirteenth consecutive month and matched a four-year low.
GOLD Fundamentals (based on dailyfx article)
Fundamental Forecast for Gold: Neutral
AUDUSD Fundamentals (based on dailyfx article)
Fundamental Forecast for Australian Dollar: Bearish