Monday February 27, 2017 - 20:27:45 GMT
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Forex Trading Ideas For Tuesday 28 February 2017
Pre- OpenTrading Ideas for 27 Feb 2017
WEEKLY Forex Economic Calendar:
28 Feb Tues
10:00 EZ- flash HICP
13:30 US- GDP
15:00 US- CB Consumer Confidence
15:30 US- EIA Crude
1 Mar Wed
All Day- final Mfg PMIs
08:55 DE- Jobless
13:30 US- PCE Deflator
15:00 CA- Bank of Canada Decision
15:30 US- EIA Crude
19:00 US- Beige Book
2 Mar Thu
13:30 US- Weekly Jobless
23:30 JP- CPI
3 Mar Fri
All-Day SVC PMIs
- Equity markets traded in generally a risk-off mode Monday as worries persist about European elections over the next several months. On the other hand, flight-to-safety demand for key sovereign debt issues might be abating.
- The major focus for now is on the a speech Tuesday evening (21:00 ET) to a joint session of Congress, where he will lay out his plans for the economy and governing for the next year. Of major interest will be any details for his tax cut plan and how he plans to make needed fixes to Obamacare. On the other hand, traders are not going to be happy with the Pesident's typical lack of specificity. Trump's OMB Director seemed to be trying to down play exprctations for Trump's speech in a press briefing today.
- The GBPUSD fell after a PM May's government said that threat of second Scottish independence referendum is creating unnecessary uncertainty. There was chatter that PM May might be prepared to accept a second Sottish independence referendum on the condition that it would take place AFTER the U.K. exits the EU.
- Another key focus this week is a speech on the economy outlook on Friday by Fed Chair Yellen in Chicago at 13:00 GMT. This will be coming ahead of the key Fed meeting on March 15. This could be one of her last opportunities before the decision to influence market sentiment. Fed Funds futures odds for a March Fed rate hike are now 52% (40%). This reflects some some reduced skepticism today. Markets now place the odds for rate hike(s) by June at 120% (105%).
Mixed Markets late in the Day Monday. U.S. Shares And USD are Mixed
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