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Date : 22nd March 2019.

MACRO EVENTS & NEWS OF 22nd March 2019.


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FX News Today

  • Bund yields slightly higher in opening trade after cautious session on Asian stock markets.
  • EU hands UK another 2 weeks to avoid no-deal Brexit, eyes May 22 exit if deal passes, otherwise PM May must come up with a Plan B. If the deal gets through, an extension until May 22 has already been backed by the EU-27.
  • Japan’s nationwide core CPI undershot expectations at 0.7% y/y in February.
  • The European calendar focuses on Eurozone prel. March Manufacturing PMI readings.
  • Gold whipsawed back toward $1,300 by resurgent USD index near 96.5
  • EURUSD corrected back under 1.1400.
  • USDJPY up from 5-week low of 110.28.
  • WTI crude has settled slightly below $60.0 after posting a fresh 4-month high at $60.39

Charts of the Day
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Technician’s Corner

  • EURUSD is slightly below Pivot Point of the day and the 38.2% Fib from the week’s peak, at 1.1385. A decisive break could lead towards 1.1410 Resistance. However indicators are not supportive, as they remain negatively configured.
  • GBPUSD topped at 1.3160, however the last 4 small body candles along with the latest doji candle suggest that upside movement might reach an end. Support at 1.3113 and 1.3000.
  • USDJPY dropped further into London open, down to 110.70. Indicators retreated from neutral zone, with RSI looking lower. The next Support level is at 110.64, and 110.36.

Main Macro Events Today

  • Eurozone Manufacturing PMI – Eurozone Manufacturing PMI is expected to improve marginally to 49.5 from 49.3 and the services reading to ease slightly to a still strong 52.7 from 52.8, which should leave the composite slightly higher at 52.0, versus 51.9 in the previous month.
  • Canadian CPI – The CPI is expected to climb 0.5% in February (m/m, nsa) after the 0.1% rise in January, boosted by stronger gasoline prices and seasonal strength in February’s CPI.
  • Canadian Retail Sales – The Retail sales are anticipated at 0.3% in January after the 0.1% dip in December.
  • US Home Sales – Sales are estimated to grow 0.6% following a 1.0% December decline. The I/S(Inventory to Sales) ratio should edge down to 1.32, from 1.33.

Support and Resistance
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Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Andria Pichidi
Market Analyst
HotForex

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

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Date : 25th March 2019.

MACRO EVENTS & NEWS OF 25th March 2019.


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Events to Look Out For Next Week

The Brexit saga continues next week with the Vote standing out as the event of the week, even though important data releases are scheduled across many currencies in the coming days.

Monday – 25 March 2019
_________________________________________________________________________

* All Industy Activity Index (JPY, GMT 04:30) – The Industry Index, known for its leading indicator abilities, is expected to have stood at 0.2% m/m in January, compared to -0.4% in December.

* German Business Climate (EUR, 09:00) – Business climate in the largest EU country is expected to have grown marginally to 98.7 compared with 98.5 last month.

* Trade Balance (NZD, GMT 21:45) – The overall trade deficit of New Zealand is expected to have declined to $6.1 billion in February, compared to $6.4 billion in January.

Monday – 26 March 2019
_________________________________________________________________________

* Housing Data (USD, GMT 00:30) – Housing starts and Building Permits are expected to have increased marginally in February, while the S&P House Price Index is expected to have continued its deceleration, growing by 3.9% in January, compared to 4.2% in December. As in previous occasions, housing market data usually have more impact on the stock market than on the currency.

* CB Consumer Confidence (USD, GMT 14:00) – The Conference Board Index is expected to have increased to 132.1, compared to 131.4 in the previous month.

Monday – 27 March 2019
_________________________________________________________________________

* Interest Rate Decision (NZD, GMT 01:00) – No change is expected in the RBNZ meeting, with the Central Bank likely to also push forward a “wait-and-see” stance.

* Trade Balance (CAD, GMT 12:30) – Business climate in the largest EU country is expected to have grown marginally to 98.7 compared with 98.5 last month.

Monday – 28 March 2019
_________________________________________________________________________

* German CPI (EUR, N/A) – The German inflation rate is expected to have increased to 0.6%, compared to 0.4% in the previous month.

* US Final GDP (USD, GMT 12:30) – The final release of the 2018Q4 GDP growth rate is expected to see the world largest economy’s economic activity to have grown by 2.4% compared with the preliminary reading of 2.6%.

* Tokyo CPI and Production Data (JPY, GMT 23:30) – Tokyo CPI and Production Data (JPY, GMT 23:30) – The country’s main leading indicator of inflation is expected to have remained at 1.1% y/y in March, at the same level as in February. Industrial Production is expected to have improved, growing by 1.4% m/m in February, compared to -3.4% m/m in January, while Retail Sales are expected to have increased by 0.9% y/y in February, compared to 0.6% in January.

Monday – 29 March 2019
_________________________________________________________________________

* UK Final GDP (GBP, GMT 09:00) – UK economic activity is expected to have remained at its preliminary level of 1.3% y/y in 2018Q4.

* US Personal Spending (USD, GMT 12:30) – Personal Spending is expected to have grown by 0.3% m/m in January, compared to a 0.5% m/m reduction in the previous month.

* Chicago PMI (USD, GMT 13:45) – The Chicago PMI is expected to have declined to 61.8 compared to 64.7 last month, however still showcasing growth.

* UK Parliament Vote (GBP, Tentative) – The UK Parliament is expected to convene in order to vote for a revised Theresa May plan or in favour of a no-deal Brexit.

Always trade with strict risk management. Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

Click HERE to access the full HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!

Click HERE to READ more Market news.

Dr Nektarios Michail
Market Analyst
HotForex

Disclaimer:
 This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers. Retail, IB and White Label Clients have the opportunity to access interbank spreads and liquidity via state of the art automated trading platforms.

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