Wednesday 20th March: FOMC takes centre stage; the central bank widely expected to keep policy unchanged.
Underpinned by a softer greenback, the EUR/USD extended gains for a third consecutive day Tuesday, up 0.13%. The buck is seemingly weaker on fears of a dovish Fed, with the central bank widely expected to keep policy unchanged today.
Tuesday 19th March: Sterling consolidates ahead of UK job’s data.
EUR/USD bulls went on the offensive Monday, extending Friday’s rally. Up 0.10%, the pair is closing in on a daily channel resistance etched from the high 1.1569.
Monday 18th March: Weekly technical outlook and review.
Following three stormy days, Thursday and Friday were somewhat calmer in comparison. Leaving 1.32 unchallenged Friday, the day concluded testing the underside of 1.33 after conquering March’s opening level at 1.3264.
Friday 15th March: US dollar turns higher breaking a four-day bearish phase
On more of a broader outlook, weekly price continues to reflect a bullish stance out of demand coming in at 1.1119-1.1295, eclipsing a large portion of the prior week’s losses.
Thursday 14th March: Sterling in the spotlight once again as MPs vote on delaying Brexit.
MPs rejected the United Kingdom leaving the European Union without a Brexit deal in any circumstances Wednesday as Parliament took control of Britain’s divorce from the bloc.
Monday 11th March: Weekly technical outlook and review
The US unemployment rate also declined to 3.8%, beating expectations of 3.9%, and US average hourly earnings ticked higher at 0.4% vs. expected 0.3%.
Friday 8th March: US non-farm payrolls eyed at 1.30pm GMT – remain vigilant.
The ECB cut growth forecasts and indicated rates would be on hold through 2019 (previously it had guided it would be on hold through summer).
Thursday 7th March: ECB Rate Decision & Press Conference takes centre stage today – the general message should remain cautious.
The Australian economy grew by 0.2% in seasonally adjusted chain volume terms in the December quarter, missing a consensus reading of 0.5%. The after-effects witnessed the commodity-linked currency cede ground against its US counterpart Wednesday, consuming H4 support at 0.7060
Wednesday 6th March: Greenback reigns supreme for a fifth consecutive day; eyeing a close above 97.00.
Tuesday’s headline seasonally adjusted IHS Markit/CIPS UK services PMI business activity Index registered 51.3 in February, up from a two-and-a-half year low of 50.1 in January.
