Economic Events

FxPro Daily Insight for February 27

Market overview Futures for S&P500 lost 9% over the six days to lows since November and drastically shifting from overbought to oversold conditions by RSI. The UK’s FTSE100 fell under 7,000 to 13-month lows.

The mood swung toward fears of long-term consequences that cannot be resolved by fiscal and monetary stimulus. US 10- and 30-year government bonds yields at all-time lows.

From the peak a week ago, DXY lost 1.2%, as expectations of lower rates pressured the dollar. European currencies – PLN, EUR, CHF – are leading the growth against the USD. EURUSD recovered to its 2 1/2 week highs above 1.0950.

Brent oil declined to $ 51.3 – near the December 2018th extremums. Below this level, Oil had traded for a few hours at the thin Christmas market at that time.

Gold is having difficulty rising above $ 1650, but pullbacks from this level becomes weaker for the third day.

Important events, GMT (Exp.): 13:30 US !! GDP, 4Q19 2nd estimate (2.1% q/q) 15:00 US !! Pending Home Sales, Jan (+2.8% m/m) 23:30 Jp !! Tokyo CPI, Feb (0.5% y/y) 08:55 Ge !! Unemployment Change, Feb (+5K)

Article Rating