Reply to thread

Message: [QUOTE="MikhailLF, post: 160372, member: 42242"] [b]LiteForex analitics. Morning Market Review[/b] EUR/USD At the beginning of the week, the euro showed growth against the US dollar returning to the local maxima of February 6. The reason for the emergence of positive dynamics was the general growth of optimism in the market after US President Donald Trump announced the postponement of the introduction of new duties on Chinese goods on March 1. Trump explained his decision with notable progress in the negotiations, and also declared his readiness to meet again with PRC leader Xi Jinping. The upward trend is also supported by the expectation of a large two-day speech by Fed Chairman Jerome Powell in the US Congress with the regular semi-annual monetary policy report. Powell's speech may clarify the planned timing of reducing the balance of the Fed, as well as the resumption of the policy of gradual rate increases. On February 26, investors are also waiting for a speech of the ECB representative Yves Mersch. GBP/USD The British pound showed strong growth on Monday, updating local highs of February 20. Active "bullish" dynamics is also observed during the Asian session today, which brings the pound to the highest levels since January 31. The instrument was supported by Donald Trump’s intention to postpone the deadline for concluding a trade agreement with China. The market confidence in the deal has noticeably increased, so the risk appetite has also increased. In addition, investors are optimistic about the news that the European Union is considering the possibility of postponing the Brexit date for another 21 months. This will adversely affect the internal political situation in the UK and may undermine the confidence in Teresa May in Parliament, but it will help develop a more detailed plan, which ultimately will avoid the "tough" Brexit. AUD/USD The Australian dollar rose against the US one on Monday but returned to ambiguous dynamics during the Asian session today. Progress in the US-China trade negotiations provided some support for the instrument, but very quickly investor sentiment began to deteriorate, and they returned to profit taking. The growth of AUD was largely caused by the non-confirmation of the fact that China introduced any bans on the import of Australian coal. According to updated data, delays in the trading ports of China were caused only by legal problems after the adjustment of the legislation. USD/JPY The US dollar rose against the Japanese yen on Monday, updating local highs of December 27. The growth of the instrument was facilitated by a noticeable decrease in investors' interest in "safe haven" currencies after Donald Trump announced the postponement of the introduction of new import duties on Chinese goods. Additional pressure on the yen on Monday was caused by published data from Japan. Thus, the index of leading indicators in December fell from 97.9 to 97.5 points, with a constant forecast. The index of coincident indicators dropped from 102.3 to 101.8 points. Oil Oil prices declined significantly on February 25, responding to Donald Trump’s statements regarding OPEC. The US president noted that prices are gradually becoming "too high" and urged the cartel to "calm down". This is not the first accusation of OPEC by Trump, while the US continues to steadily increase its own production volumes, reaching new record levels. In addition to the efforts of OPEC, the US sanctions on Iran and Venezuela also contribute to higher prices. Also, according to the latest data, the largest Lybian oil field, El Sharara, is still closed due to the presence of militants. [/QUOTE]

Verification

Top Bottom