Iforex Market Insight INTERNATIONAL CURRENCY BUZZ ECONOMIC CALENDAR GBP/USD & EUR/USD HOURLY CHART EPIC RESEARCH MALAYSIA
Iforex Market Insight Date– 27 Feb INTERNATIONAL CURRENCY BUZZ Forex Forex - - Dollar on defensive after Fed comments, sterling advance Dollar on defensive after Fed comments, sterling advance Forex Forex- - GBP/USD rallies to 5 GBP/USD rallies to 5- -month high as bulls lean on Brexit extension bets month high as bulls lean on Brexit extension bets Forex Forex - - EUR/USD hits new weekly highs above 1.1400 EUR/USD hits new weekly highs above 1.1400 EUR/USD The EUR/USD broke decisively above 1.1370 during the US session and reached at 1.1402, the highest level since February 6. So far, the euro failed to extend the run above 1.1400 but it was holding near the top, consolidating a daily gain of 35 pips and on top of the 1.1370 area and the 20-day moving average. Today’s move higher represents an extension of the rally that started last week from monthly lows at 1.1230. On American hours, the greenback lost ground across the board. The DXY dropped to 96.00 and it was having the worst day in a month. US yields move lower and the 10-year was at 2.63%, slightly above February lows. Also, some technical fac- tors contribute to the latest leg higher. On Wednesday, US President Trump will meet with North Korean leader Kim Jong Un. Regarding data, trade numbers for December, pending homes sales for January and factory orders for December are due. GBP/USD GBP/USD trades around 1.3255 as traders look to handover to the early Asian session on Wednesday. The pair surged to the five-month high near 1.3290 during Tuesday as the UK PM Theresa May’s parliament appearance challenged concerns about a no- deal Brexit. Adding to the momentum strength were opposition Labour party’s readi- ness to bring the second referendum on the table and the BoE officials’ inflation re- port hearings. At the US, lack of clear signals from the Fed Chair’s testimony and mixed economics confined the US Dollar strength. During Tuesday, PM May appeared in the British parliament and said she hasn’t discussed Brexit delay with the EU offi- cials. However, her timetable signaled a vote to extend Article 50 on March 14 if members of the parliament (MPs) reject her fresh plan on March 12 and also turn down no deal Brexit on March 13. Iforex Market Insight By Epic Research Malaysia www.epicresearch.my
Iforex Market Insight Date– 27 Feb ECONOMIC CALENDAR Time Time Cur. Cur. Event Event Forecast Forecast Previous Previous Wednesday, February 27, 2019 03:30 EUR ECB's Coeure Speaks 04:30 GBP Gross Mortgage Approvals 38.5K 38.8K 08:30 USD Goods Trade Balance (Dec) -77.25B 10:00 USD Cap Goods Ship Non Defense Ex Air (MoM) 0.5% 10:00 USD Factory Orders (MoM) (Dec) 1.5% -0.6% 10:00 USD Fed Chair Powell Testifies 10:00 USD Pending Home Sales (MoM) (Jan) 0.8% -2.2% 10:30 USD Crude Oil Inventories 2.842M 3.672M 10:30 USD Cushing Crude Oil Inventories 3.413M 18:50 JPY Industrial Production (MoM) (Jan) -2.4% -0.1% 18:50 JPY Retail Sales (YoY) (Jan) 1.4% 1.3% Tentative AUD HIA New Home Sales (MoM) (Oct) -6.7% 19:30 AUD Private New Capital Expenditure (QoQ) (Q4) 1.1% -0.5% 19:30 AUD Private Sector Credit (MoM) (Jan) 0.3% 0.2% 20:30 JPY BoJ Board Member Suzuki Speaks www.epicresearch.my Iforex Market Insight By Epic Research Malaysia
IFOREX Market Insight top 5 gainers Date– 27 Feb GBP/USD DAILY CHART BUY GBPUSD ABOVE 1.3260 TGT 1.3280 1.3310 SL 1.3230 SELL GBPUSD BELOW 1.3230 TGT 1.3210 1.3180 SL 1.3260 EUR/USD DAILYCHART BUY EURUSD ABOVE 1.1400 TGT 1.1410 1.1430 SL 1.1390 SELL EURUSD BELOW 1.1370 TGT 1.1360 1.1340 SL 1.1380 www.epicresearch.my Iforex Market Insight By Epic Research Malaysia
EPIC RESEARCH MALAYSIA The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable.This material is for personal informa- tion and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors inde- pendently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the informa- tion given in this report, which is in violation of rules and regulations . The share price projections shown are not necessarily indicative of future price performance. The informa- tion herein, together with all estimates and forecasts, can change without notice. Analyst or any person re- lated to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a rec- ommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer.All Rights Reserved. Investment in equity & bullion market has its own risks.