Daily Analysis: 12 Feb 2019

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DXY

Fundamental Analysis

(12th Feb): Weakness in the euro and British pound have supported the greenback in recent days and Monday’s advance puts it on track for its eighth consecutive daily rise — its longest winning streak in two years.

 

 

(11th Feb): Powell speech is not likely to bring much new information to the market while the Fed’s dovish tone has been gradually priced in by investors. It’s going to be relatively quiet in the US as some key data such as Q4 GDP have yet to be rescheduled following the disruption from the government shutdown. The spotlight will, therefore, fall on inflation indicators. The CPI report is out on Wednesday with the headline rate forecast to have moderated from 2.2% to 2.1% y/y in January. The other major releases will consist of the University of Michigan’s preliminary consumer sentiment index for February, all of which are due on Friday.

 

A strong set of data could lift the dollar index above the 2-week top scaled this week. However, political developments will likely be bigger drivers for the dollar in the next seven days as US-China trade talks resume and Republicans and Democrats try to hammer out a deal on government funding. US lawmakers have until February 15 to agree on a new funding bill if they are to avert another shutdown. If there are signs that the US is headed for a prolonged period of a government shutdown, this could weigh on the greenback as it would begin to have a more notable impact on GDP growth.

 

 

Technical Analysis

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JPY

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Fundamental Analysis

(11th Feb): Japan’s economy is expected to have returned to growth in the final three months of 2018. Data on Thursday is anticipated to show GDP expanded by 0.4% quarter-on-quarter after contracting by 0.6% in the third quarter. While a stronger-than-forecast figure could give the yen a little bit of a bump up, it’s unlikely to… [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.

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