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.
Time of release: 02/27/2014 8:55 GMT, 3:55 EST
Primary Pair Impact: EURUSD
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
2013-02-27 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]
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
The report said durable goods orders fell by 1.0 percent in January after tumbling by a revised 5.3 percent in December.
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.
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
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.
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.
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
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
Potential 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]
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