Another week, another chance to trade the dollar!
Here’s a list of potential catalysts you should keep an eye on in the next few days.
Durable goods orders (Feb 27, 1:30 pm GMT)
- New durable goods orders gained 2.4% in December after a 3.1% decline in November
- Core durable goods slipped by 0.1% when analysts had priced in a 0.4% increase
- Non-defense spending – a proxy for overall business spending – dropped by the most in eight months and suggested investment contraction in Q4 2019
- USD reaction was mixed as there were other lower-tier reports printed at the same time
Core PCE price index (Feb 28, 1:30 pm GMT)
- Core personal consumption expenditures (PCE) is widely considered as the Fed’s preferred inflation gauge
- Core PCE price index rose by 1.6% from a year ago in December, missing the Fed’s 2.0% target for another month
- Analysts see the monthly reading maintaining its 0.2% growth, which could raise the annualized figure to 1.7% as last year’s weak data drops off the calculation
Lower tier reports
- CB consumer confidence (Feb 25, 3:00 pm GMT) could improve from 131.6 to 132.0 in February
- New home sales (Feb 26, 3:00 pm GMT) is seen higher from 694K to 710K in January
- Preliminary (second) GDP reading (Feb 27, 1:30 pm GMT) to be revised higher from 2.1% to 2.2%?
FOMC members’ speeches
- Loretta Mester (Feb 24, 8:00 pm GMT) will talk economic outlook and monetary policy in DC
- Robert Kaplan (Feb 25, 2:45 pm GMT) will attend a real estate symposium in Kansas City
- Richard Clarida (Feb 25, 8:00 pm GMT) will also talk economy and monetary policy in DC
- Robert Kaplan (Feb 26, 2:45 pm GMT) is expected at a conference in Austin
- Neel Kashkari (Feb 26, 6:00 pm GMT) has a speech titled “What You May Not Know About the Minneapolis Federal Reserve” in Minneapolis
- Mester (Feb 27, 8:30 pm GMT) will open the “Women in Economics Symposium” in Cleveland and participate in a panel discussion on Feb 28 at 12:00 am GMT
- Stochastic considers USD as “overbought” against NZD, AUD, JPY, EUR, and CHF on the daily time frame
- AUD/USD and NZD/USD are trading below their short AND long-term EMAs on the daily
- EUR/USD is a hair’s breadth away from AUD/USD and NZD/USD’s conditions
- USD/JPY and USD/CAD are trading above their short AND long-term EMAs
- GBP/USD is trading above its 200 EMA but below its shorter-term EMAs. Watch for retracement or reversal opportunities
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.
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