FidelisCM17
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The main events on March 27, 2017
The dollar fell to its lowest level against the yen since late November in Asia on Monday on heightened political risk concerns as a Republican-controlled Congress and presidency are in focus to deliver on economic plans for tax cuts and spending following a failed effort to reform healthcare.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dropped 0.47% to 99.12.
USD/JPY changed hands at 110.36, down 0.91%, while AUD/USD traded at 0.7624, flat. GBP/USD traded at 1.2520, up 0.38%.
Gold prices gained in early Asia on Monday as investors see a week of political risk events, including Britain's move to formally start its break from the European Union. Gold rose 0.73% to $1,252.90
Oil prices fell on Monday as rising U.S. drilling activity outweighed talks that an OPEC-led production cut initially due to end in mid-2017 may be extended. Brent eased 22 cents, or 0.4 percent, from their last close to $50.58 per barrel. WTI down 32 cents, or 0.7 percent, at $47.65 a barrel.
News for Today:
The Ifo Institute is to report on German business climate.
Federal Reserve Bank of Chicago President Charles Evans and Dallas Fed President Robert Kaplan are both to speak.
Main Events of the week:
Tuesday, March 28
The U.S. is to release data on consumer confidence.
Bank of Canada Governor Stephen Poloz is to speak.
Dallas Fed President Robert Kaplan is to speak.
Wednesday, March 29
The UK is to publish data on net lending.
Chicago Fed President Charles Evans is to speak.
The U.S. is to release a report on pending homes sales.
Thursday, March 30
In the euro zone, Germany and Spain are to release preliminary data on inflation.
Canada is to publish figures on raw material price inflation.
The U.S. is to release revised data on fourth quarter growth along with the weekly report on initial jobless claims.
Friday, March 31
Japan is to publish data on household spending and inflation.
New Zealand is to report on business confidence.
China is to release its official manufacturing and services PMI’s.
Germany is to release figures on retail sales and unemployment change. Meanwhile, the euro zone is to publish preliminary data on inflation.
The UK is to report on the current account and release revised data on fourth quarter growth.
The U.S. is to round up the week with data on personal income and spending, a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.
EUR/USD Intraday: the upside prevails.
Our preference: long positions above 1.0810 with targets at 1.0850 & 1.0880 in extension.
Alternative scenario: below 1.0810 look for further downside with 1.0790 & 1.0770 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1.0900
1.0880
1.0850
1.0830 Last
1.0810
1.0790
1.0770
Review provided by broker Fidelis Capital Markets
The dollar fell to its lowest level against the yen since late November in Asia on Monday on heightened political risk concerns as a Republican-controlled Congress and presidency are in focus to deliver on economic plans for tax cuts and spending following a failed effort to reform healthcare.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dropped 0.47% to 99.12.
USD/JPY changed hands at 110.36, down 0.91%, while AUD/USD traded at 0.7624, flat. GBP/USD traded at 1.2520, up 0.38%.
Gold prices gained in early Asia on Monday as investors see a week of political risk events, including Britain's move to formally start its break from the European Union. Gold rose 0.73% to $1,252.90
Oil prices fell on Monday as rising U.S. drilling activity outweighed talks that an OPEC-led production cut initially due to end in mid-2017 may be extended. Brent eased 22 cents, or 0.4 percent, from their last close to $50.58 per barrel. WTI down 32 cents, or 0.7 percent, at $47.65 a barrel.
News for Today:
The Ifo Institute is to report on German business climate.
Federal Reserve Bank of Chicago President Charles Evans and Dallas Fed President Robert Kaplan are both to speak.
Main Events of the week:
Tuesday, March 28
The U.S. is to release data on consumer confidence.
Bank of Canada Governor Stephen Poloz is to speak.
Dallas Fed President Robert Kaplan is to speak.
Wednesday, March 29
The UK is to publish data on net lending.
Chicago Fed President Charles Evans is to speak.
The U.S. is to release a report on pending homes sales.
Thursday, March 30
In the euro zone, Germany and Spain are to release preliminary data on inflation.
Canada is to publish figures on raw material price inflation.
The U.S. is to release revised data on fourth quarter growth along with the weekly report on initial jobless claims.
Friday, March 31
Japan is to publish data on household spending and inflation.
New Zealand is to report on business confidence.
China is to release its official manufacturing and services PMI’s.
Germany is to release figures on retail sales and unemployment change. Meanwhile, the euro zone is to publish preliminary data on inflation.
The UK is to report on the current account and release revised data on fourth quarter growth.
The U.S. is to round up the week with data on personal income and spending, a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.
EUR/USD Intraday: the upside prevails.
Our preference: long positions above 1.0810 with targets at 1.0850 & 1.0880 in extension.
Alternative scenario: below 1.0810 look for further downside with 1.0790 & 1.0770 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1.0900
1.0880
1.0850
1.0830 Last
1.0810
1.0790
1.0770
Review provided by broker Fidelis Capital Markets
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