Friday 27th February: European Open Briefing

Posted On 27 Feb 2015

By : IC Markets

Comment: 0

Tag: ECB, Euro, European Session

Global Markets:

Asian stock markets: Nikkei up 0.05 %, Shanghai Composite gained 0.50 %, Hang Seng rose 0.25 %, ASX 0.35 % higher
Commodities: Gold at $1209.90 (-0.05 %), Silver at $16.60 (-0.10 %), WTI Oil at $48.95 (+1.60 %), Brent Oil at $60.85 (+0.80 %)
Rates: US 10 year yield at 2.014, UK 10 year yield at 1.745, German 10 year yield at 0.307

News & Data:

Japan National CPI 2.4 % y/y, Expected: 2.4 %, Previous: 2.4 %
Japan National Core CPI 2.2 % y/y, Expected: 2.3 %, Previous: 2.5 %
Japan Household Spending -0.3 % m/m, Expected: 0.4 %, Previous: 0.4 %
Japan Household Spending -5.1 % y/y, Expected: -4.1 %, Previous: -3.4 %
Japan Industrial Production 4.0 % m/m, Expected: 2.7 %, Previous: 0.8 %
Japan Retail Sales -2.0 % y/y, Expected: -1.3 %, Previous: 0.2 %
Japan Unemployment Rate 3.6 %, Expected: 3.4 %, Previous: 3.4 %
Japan Housing Starts -13.0 %, Expected: -11.3 %, Previous: -14.7 %
New Zealand ANZ Business Confidence 34.4 %, Previous: 30.4 %
Australia Private Sector Credit 0.5 % m/m, Expected: 0.5 %, Previous: 0.5 %

Markets Update:

The US Dollar strengthened across the board yesterday after the US CPI & Durable Goods Orders data. EUR/USD broke below the key 1.1260/70 support area and stops in good size were cleared on the way down to 1.1240. The pair eventually extended losses to 1.1180 and continues to trade with an offered tone. A retest of the former 1.1260/70 support area will likely attract decent selling interest and the next bear target is the 1.11 level. GBP/USD closed above 1.54 on the day and had a decent bounce in Asia. Short-term techs still remain fairly bullish as long as the pair remains above 1.5330/40 support. USD/JPY gave back some of its gains, but remained well bid in Asia. Key intraday support at 118.70, while the pivotal level to the topside remains 119.80.

Upcoming Events:

08:30 GMT – Swedish GDP
08:30 GMT – Swedish Retail Sales (0.4 % m/m, 3.8 % y/y)
10:00 GMT – Italian CPI (0.1 % m/m, -0.5 % y/y)
13:00 GMT – German CPI (0.7 % m/m, -0.2 % y/y)
13:00 GMT – German HICP (0.7 % m/m, -0.4 % y/y)
13:30 GMT – US GDP (2.1 % q/q)
14:45 GMT – US Chicago PMI (58.0)
15:00 GMT – US Pending Home Sales (1.8 % m/m)

The post Friday 27th February: European Open Briefing appeared first on .

Source:: Friday 27th February: European Open Briefing

About the Author

IC Markets is one of the world’s only True ECN forex brokers providing trading solutions for active day traders and scalpers as well as traders that are new to the forex market. IC Markets offers its clients cutting edge trading platforms, low latency connectivity and superior liquidity. IC Markets is revolutionizing on-line forex trading, on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals. Visit IC Markets Website [space height="20"] [social type="facebook"]https://www.facebook.com/icmarkets[/social] [social type="twitter"]https://twitter.com/IC_Markets[/social] [social type="google-plus"]https://plus.google.com/+Icmarketsforex/posts[/social] [social type="youtube"]http://www.youtube.com/user/ICMarkets/[/social]