Iforex Market Insight

INTERNATIONAL CURRENCY

BUZZ

ECONOMIC CALENDAR

GBP/USD HOURLY CHART

EUR/USD HOURLY CHART

EPIC RESEARCH SINGAPORE

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-

Iforex Market Insight

Date– 24– Feb

INTERNATIONAL CURRENCY BUZZ

EUR/USD

GBP/USD The sterling is now wobbling around the 1.4100 handle vs. the greenback, with GBP/USD cor-

recting lower from overnight tops in the 1.4160/50 band.While ‘Brexit’ fears are far from

abated, the British pound has managed to bounce off yesterday’s fresh multi-year lows near

1.4050 and advance nearly a cent following the NA close.Market participants have perceived

PM D.Cameron’s speech on Monday as stronger than expected, particularly when confronted

with London’s mayor B.Johnson, giving some respite to GBP and allowing a rebound in

spot.While the sterling remains vulnerable against the backdrop of ‘Brexit’ fears, today’s

speech by BoE’s Carney before the Treasury Select Committee Hearing and the lecture by

A.Haldane will grab all the attention.

The euro is steady on Tuesday, after sustaining sharp losses on Monday. EUR/USD is trading at

the 1.10 line in the European session. On the release front, Germany will release Ifo Business

Climate, a key event. The markets are expecting a strong reading of 107.0 points. In the US,

there are two key releases – Existing Home Sales and CB Consumer Confidence.The markets

will be looking for a strong reading from German Business Climate, after some disappointing

releases from the Eurozone’s largest economy. German PPI, which measure inflation in the

manufacturing sector, looked dismal in January, with a decline of 0.7%. This was shy of the es-

timate of -0.3%. So it comes as no surprise that German Flash Manufacturing PMI also missed

expectations, with a reading of 50.2 points, barely above the 50-line, which separates contrac-

tion and expansion.

Forex -Yen up as rally in risky assets wanes, pound eyes BoE testimony

Forex -Aussie edges higher, kiwi slips in cautious trade

Forex - Dollar holds steady with U.S. data on tap

Iforex Market Insight Date– 24– Feb

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singapore

ECONOMIC CALENDAR

Time Cur. Event Forecast Previous

Wednesday, February 24, 2016

03:05 USD API Weekly Crude Oil Stock -3.300M

06:00 AUD Construction Work Done (QoQ) (Q4) -2.0% -3.6%

06:00 AUD Wage Price Index (QoQ) (Q4) 0.6% 0.6%

09:30 MYR CPI (YoY) (Jan) 3.7% 2.7%

15:00 GBP BBA Mortgage Approvals 45.2K 44.0K

18:30 USD FOMC Member Lacker Speaks

20:15 USD Services PMI (Feb) 53.5 53.2

20:30 USD New Home Sales (MoM) (Jan) -4.4% 10.8%

20:30 USD New Home Sales (Jan) 520K 544K

21:00 USD Crude Oil Inventories 3.165M 2.147M

21:00 USD Cushing Crude Oil Inventories 0.036M

23:45 USD FOMC Member Kaplan Speaks

Iforex Market Insight

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-

EUR/USD HOURLY CHART

BUY GBP USD ABOVE 1.4140 TARGET 1.4160 1.4190 SL 1.4110

SELL GBP USD BELOW 1.4100 TARGET 1.4080 1.4050 SL 1.4130

GBP/USD HOURLY CHART

BUY EUR USD ABOVE 1.1040 TARGET 1.1060 1.1090 SL 1.1010

SELL EUR USD BELOW 1.0970 TARGET 1.0950 1.0920 SL 1.1000

Date– 24– Feb

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