Daily Analysis: 27 Feb 2019

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USD

Fundamental Analysis

(27th Feb): Dollar was significantly sold off during US trading hours on Tuesday. This was in line with Powell reiterating the dovish approach and mixed US data of a weak housing starts and a upbeating consumer confidence data.The housing starts plunged to the lowest since August 2016 during January month whereas consumer confidence improved during the present month.

The market turns risk-off after Tuesday’s US trading session, providing some support to USD while traders may not likely to take more positions before the second part of the Fed Chair Jerome Powell’s semi-annual testimony and Thursday’s GDP data.

 

 

(26th Feb): The dollar index is expected to end the negative slide as market is turning more risk-off. However, this slightly bullish trend can still be changed depending on what Fed’s Powell says during his Congressional testimony. If Powell takes note of the US-China trade optimism, this may boost the dollar. However, if Powell reiterates patience and talks about the downside risks to the economy, then the dollar will likely take a beating.

Alter today, U.S. CB Consumer Confidence number will be released ,which will also help in determine the new direction for dollar. It is the second most important event after Fed Chair testimony for USD’s direction ahead.

 

(25th Feb): the US is expected to extend the March 1 deadline on Chinese import tariffs, President Donald Trump travels to Vietnam for another Summit with North Korea’s Leader Kim Jong Un and the UK’s Parliament could vote on a Brexit deal. An action-packed week may offer the US Dollar and equities more volatility.

 

 

 

Technical Analysis

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GBP

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Fundamental Analysis

(27th Feb): The currency was traded up thanks to Theresa May’s promise that a vote to delay Brexit will be given if her proposal fails on 12 March and a no deal Brexit is also turned down on March 13. This boosts the currency given… [/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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