Curious to know what’s happening on the markets this week? Take a quick tour of the latest news, economic updates, and trading setups that will keep you up-to-date and in the know.
Monday>
- The new week started with a disappointing retail sales number from New Zealand that dropped by 0.6% instead of an expected 0.2% rise
- The calendar will only contain one more important piece of data - the Durable Goods Orders from the USA, where we are expecting a drop of -3.7%
Tuesday>
- Tuesday will bring another speech from the BoJ Gov-Designate Ueda, along with a pack of data from Japan, such as retail sales, Coper CPI, or housing stats
- On the last day of February, we will also learn the GDP for Canada and the CB Consumer Confidence in the USA, expected to rise to 108.5
Wednesday>
- Wednesday will start with inflation data from Australia, where we are expecting a drop to 8.1%
- It will be also the day when we find out the Manufacturing PMIs from various economies in the Eurozone and USA
- Pound traders should pay close attention to the speech from the BoE Governor Bailey
Thursday>
- The most important data will be the inflation number from the Eurozone, where we are expecting a drop towards 8.2%
- Traders on the NZD will anticipate the speech from the RBNZ Governor Orr
Friday>
- On Friday, the leading world economies like the USA, China, UK and Eurozone will present their Services PMI numbers. All of them are expected to come above the magic barrier of 50
Setups for This Week:
GBPJPY
Primary View:
Last week, the pair confirmed the bullish breakout from the symmetric triangle
As long as we stay above the yellow horizontal support, the sentiment is positive
Alternative View:
If the price falls back inside of the symmetric triangle, we will have a proper signal to go short
EURAUD
Primary View:
The pair is in the bullish mode, establishing new monthly highs as we speak
The price broke above the 1.565 resistance, which was a key level since October
The price closing the day above that area will give us a signal to buy
Alternative View:
EURAUD dropping below the yellow support will be a strong signal to go short
SP500
Primary View:
On Friday, the price managed to break the long-term up trendline, supporting the buyers since October
As long as we stay below that resistance, the sentiment is negative
Alternative View:
S&P 500 climbing back above the green up-trendline will give us a signal to go long, based on the false bearish breakout
