epic research singapore : - daily iforex report of 24 february 2016
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Iforex Market Insight
INTERNATIONAL CURRENCY
BUZZ
ECONOMIC CALENDAR
GBP/USD HOURLY CHART
EUR/USD HOURLY CHART
EPIC RESEARCH SINGAPORE
www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date– 24– Feb
INTERNATIONAL CURRENCY BUZZ
EUR/USD
GBP/USD The sterling is now wobbling around the 1.4100 handle vs. the greenback, with GBP/USD cor-
recting lower from overnight tops in the 1.4160/50 band.While ‘Brexit’ fears are far from
abated, the British pound has managed to bounce off yesterday’s fresh multi-year lows near
1.4050 and advance nearly a cent following the NA close.Market participants have perceived
PM D.Cameron’s speech on Monday as stronger than expected, particularly when confronted
with London’s mayor B.Johnson, giving some respite to GBP and allowing a rebound in
spot.While the sterling remains vulnerable against the backdrop of ‘Brexit’ fears, today’s
speech by BoE’s Carney before the Treasury Select Committee Hearing and the lecture by
A.Haldane will grab all the attention.
The euro is steady on Tuesday, after sustaining sharp losses on Monday. EUR/USD is trading at
the 1.10 line in the European session. On the release front, Germany will release Ifo Business
Climate, a key event. The markets are expecting a strong reading of 107.0 points. In the US,
there are two key releases – Existing Home Sales and CB Consumer Confidence.The markets
will be looking for a strong reading from German Business Climate, after some disappointing
releases from the Eurozone’s largest economy. German PPI, which measure inflation in the
manufacturing sector, looked dismal in January, with a decline of 0.7%. This was shy of the es-
timate of -0.3%. So it comes as no surprise that German Flash Manufacturing PMI also missed
expectations, with a reading of 50.2 points, barely above the 50-line, which separates contrac-
tion and expansion.
Forex -Yen up as rally in risky assets wanes, pound eyes BoE testimony
Forex -Aussie edges higher, kiwi slips in cautious trade
Forex - Dollar holds steady with U.S. data on tap
Iforex Market Insight Date– 24– Feb
www.epicresearch.sg Iforex Market Insight Report By Epic Research Singapore
ECONOMIC CALENDAR
Time Cur. Event Forecast Previous
Wednesday, February 24, 2016
03:05 USD API Weekly Crude Oil Stock -3.300M
06:00 AUD Construction Work Done (QoQ) (Q4) -2.0% -3.6%
06:00 AUD Wage Price Index (QoQ) (Q4) 0.6% 0.6%
09:30 MYR CPI (YoY) (Jan) 3.7% 2.7%
15:00 GBP BBA Mortgage Approvals 45.2K 44.0K
18:30 USD FOMC Member Lacker Speaks
20:15 USD Services PMI (Feb) 53.5 53.2
20:30 USD New Home Sales (MoM) (Jan) -4.4% 10.8%
20:30 USD New Home Sales (Jan) 520K 544K
21:00 USD Crude Oil Inventories 3.165M 2.147M
21:00 USD Cushing Crude Oil Inventories 0.036M
23:45 USD FOMC Member Kaplan Speaks
Iforex Market Insight
www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-
EUR/USD HOURLY CHART
BUY GBP USD ABOVE 1.4140 TARGET 1.4160 1.4190 SL 1.4110
SELL GBP USD BELOW 1.4100 TARGET 1.4080 1.4050 SL 1.4130
GBP/USD HOURLY CHART
BUY EUR USD ABOVE 1.1040 TARGET 1.1060 1.1090 SL 1.1010
SELL EUR USD BELOW 1.0970 TARGET 1.0950 1.0920 SL 1.1000
Date– 24– Feb
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