fxsoriginal  Daily market outlook on major

Update Time: 02 Mar 2021 09:30GMT

USD/JPY - 106.86

The greenback's rise above previous February's 5-month peak 106.22 to 106.88 yesterday on usd's renewed strength and intra-day break above there suggests upmove from January's 9-1/2 month bottom at 102.60 remains in progress and further gain to 107.20/30 would be seen after consolidation, however, loss of momentum would keep price below 107.40/50 and yield a correction later this week.

On the downside, only below 105.42 would indicate a temporary top has been made and risk stronger retracement to 104.90/93.

Data to be released on Tuesday

New Zealand terms of trade, import prices, export prices, GDT price index, Japan unemployment rate, business capex, Australia building permits, current account, net exports contribution, RBA interest rate decision.
Germany retail sales, unemployment change, unemployment rate, UK nationwide house price index, EU HICP, core HICP.
Canada GDP, and U.S. redbook, ISM New York index.

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD attempts recovery above 1.1950 as USD resumes decline

EUR/USD is attempting a recovery above 1.1950 ahead of the European open, as the US dollar’s rebound falters amid persistent weakness in the Treasury yields. Easing concerns over EU's covid vaccines rollout and dovish Fed expectations underpin the spot.

EUR/USD News

GBP/USD recaptures 1.3850 as UK’s optimism offsets USD bounce

GBP/USD rises above 1.3850, picking up fresh bids heading into the London open. The cheers the UK’s advantage of faster vaccinations and unlock guidelines to shrug off the US dollar’s bounce off late the lowest since late March.

GBP/USD News

XAU/USD buyers attack six-week-old resistance line around $1,780

Gold keeps recovery moves from intraday low to print mild gains, picks up bids off-late. Ascending resistance line from early March tests bulls. 50-day SMA, monthly support line could offer bounces in case of pullback, any further weakness will recall the bears.

Gold News

Bitcoin network hash rate drop may not have caused BTC price crash

China’s prominent regions for Bitcoin mining have suffered an electrical grid blackout, causing Bitcoin’s hash rate to decline. Bitcoin price crashed over the weekend, coinciding with the drop of the network’s hash rate.

Read more

S&P 500 Week Ahead: Banks beat the street, COIN booms as funds flow to ETFs

Equity markets continue to remain bolstered from all sides as the macro environment produces strong numbers, earnings continue to smash estimates and inflation concerns take a back seat. Earnings season switches from bank stocks to reopening plays.

Read more

Majors

Cryptocurrencies

Signatures