GBP/USD Intra-Day Fundamentals: UK Services PMI and 39 pips range price movement
2016-03-03 09:30 GMT | [GBP - Services PMI]
if actual > forecast (or previous one) = good for currency (for GBP in our case)
[GBP - Services PMI] = Level of a diffusion index based on surveyed purchasing managers in the services industry.
GBPUSD M5: 39 pips range price movement by UK Services PMI news event
EUR/USD Intra-Day Fundamentals: U.S. Jobless Claims and 22 pips range price movement
2016-03-03 13:30 GMT | [USD - Unemployment Claims]
if actual < forecast (or previous one) = good for currency (for USD in our case)
[USD - Unemployment Claims] = The number of individuals who filed for unemployment insurance for the first time during the past week.
The report said initial jobless
claims rose to 278,000, an increase of 6,000 from the previous week's
unrevised level of 272,000."
EURUSD M5: 22 pips range price movement by U.S. Jobless Claims news event
USD/JPY Intra-Day Fundamentals: ISM Non-Manufacturing PMI and 22 pips range price movement
2016-03-03 15:00 GMT | [USD - ISM Non-Manufacturing PMI]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - ISM Non-Manufacturing PMI] = Level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry.
USD/JPY M5: 22 pips range price movement by ISM Non-Manufacturing PMI news event
Why Is This Event Important:
With the U.S. economy approaching ‘full-employment,’ signs of sticky
wage growth may encourage the FOMC to implement higher borrowing-costs
over the coming months as Chair Janet Yellen remains confident in
achieving the 2% inflation-target over the policy horizon.
Nevertheless, waning business confidence accompanied by fears of a
slowing recovery may drag on hiring, and a dismal NFP report may produce
increased headwinds for the dollar as market participants push out bets
for the next Fed rate-hike.
How To Trade This Event Risk
Bullish USD Trade: NFP Climbs 195K+ Accompanied by Sticky Wage Growth
EUR/USD Intra-Day Fundamentals: Non-Farm Employment Change and 68 pips price movement
2016-03-04 13:30 GMT | [USD - Non-Farm Employment Change]
[USD - Non-Farm Employment Change] = Change in the number of employed people during the previous month, excluding the farming industry.
"Total nonfarm payroll employment increased by 242,000 in February, and the unemployment rate was unchanged at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment gains occurred in health care and social assistance, retail trade, food services and drinking places, and private educational services. Job losses continued in mining."
EURUSD M5: 68 pips price movement by Non-Farm Employment Change news event
Gold Rallies Despite Stronger-Than-Expected U.S. Jobs Data (based on the article)
Forex Weekly Outlook March 7-11 (based on the article)
Haruhiko Kuroda and Stephen Poloz speak, rate decision in Canada, New Zealand and the Eurozone and Employment data in the US and Canada. These are the main events on Forex calendar.
Week Ahead by Crédit Agricole (the article)
What we are watching:
Weekly Fundamentals (adapted from the article)
GBPUSD - "The broader outlook for
GBP/USD remains tilted to the downside as the BoE lags behind its U.S.
counterpart, and the pair may continue to carve a long-term series of
lower highs & lows as the threat of an EU exit dampens the
fundamental outlook for the U.K".
USDJPY - "The Bank
of Japan will look at market developments with great interest at its
March 15 meeting, and much would need to change between now and then to
make fresh BoJ policy action likely. It is nonetheless clear that much
could change between now and then. Whether or not the Yen resumes its
uptrend may very well depend on market reactions to the ECB and other
key events in the week ahead."
AUDUSD - "Beijing pre-announced a lower
GDP growth target, setting a range of 6.5 to 7 percent as the objective.
Premier Li Keqiang likewise offered broad outlines of a broad range of
initiatives. The most directly significant items for Australia seem to
be efforts to cut over-capacity in coal and steel, both of which are
central to the country’s China-oriented mining industry. Details on this
and a host of other policy changes will be closely watched for their
knock-on effects on Australian growth and, by extension, on RBA policy
NZDUSD - "NZ 10yr Government Yields have
declined from 3.617% in mid-December toward 2.901 this week. Given the
data, it will be worth watching a move higher in yields that could
signal a move of risk-on that may continue to lift up the NZD alongside an increasingly confident and stable RBNZ."
XAUUSD - "The simple removal of a bit of
that emergency policy created risk aversion around the world that
brought on questions of a globalized-coordinated recession. Sure, stock
prices are still elevated, but how confident should one feel being
invested in equities right now? Bond yields are pitifully low after six
years of ZIRP, and any duration taken on will get absolutely crushed in a
rising rate environment. And most Central Banks are actively looking to
deflect capital flows. So where is an investor to go."
All the charts were made by using Metatrader 5 with free indicators from CodeBase.
Technical Targets for EUR/USD by United Overseas Bank (based on the article)
EUR/USD: Ranging on reversal
Daily price is located within 100-day SMA and 200-day SMA waiting for the direction of the trend to be started.
RSI indicator is estimating the ranging trend to be continuing.