Greg’s Daily Insider Tips W/C 18th March 2019

Friday 22 March 2019

Today market participants will look out for Eurozone PMI, USD PMI data as well as CAD inflation and retail sales which plays a key role in the USDCAD pair that we’ve been monitoring with possible extension further up if data doesn’t dissapoint.
Meanwhile the UK received EU confirmation of Brexit delay until end of May if the 3rd meaningful vote goes through. If it doesn’t, the deadline is set for the 12 April.

https://uk.reuters.com/article/us-global-markets/asian-shares-hit-6-1-2-month-high-on-tech-hopes-u-s-data-idUKKCN1R304I

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Thursday 21 March 2019

The US FOMC meeting minutes weakened the USD due to the dot plot not meeting investors’ expectations. This in turn strengthened the major currencies such as the EUR, NZD and AUD, though the AUD could’ve strengthened due to the unemployment rate which is now down to 4.9%.
Across the board pairs are ranging, making for a challenging end to the week for those who are running positions and demanding patience from those who are looking for quick pips.
Today we can look forward to the SNB Monetary Policy, the UK Monetary Policy Decision as well as CAD data alongside Japanese inflation. These data points are playing a major role in the economies. However, if traders decide to sit these developments out, we’ll have to exercise patience.
Due to the nature of price action behaviour CADJPY, EURJPY, USDCHF and EURSEK remain on our watch list in case of surprise confirmation.

https://uk.reuters.com/article/uk-usa-fed/fed-sees-no-rate-hikes-in-2019-sets-end-to-asset-runoff-idUKKCN1R12BO

 

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Wednesday 20 March 2019

Todays fundamental highlight, by far, will be the FOMC economic projections and the update of the dot plots and whether they’ll signal more tightening or not from the US. The USD is ranging, however, a possible surprise rally is not ruled out. The USDCAD sold off in yesterday’s session only to pair back losses and found itself in a tight range, however, it managed to form a pinbar candle showing bullish strength to the upside and a possible continuation. USDCHF remains below the 4H EMA and any retrace that holds as a lower high would invite an opportunity for possible short play.
GBP traders will focus on the CPI y/y from the UK which is expected to not suffer any change, while NZD GDP could improve with 0.3% q/q

https://uk.reuters.com/article/uk-global-markets/asian-shares-slip-from-six-month-high-ahead-of-fed-policy-decision-idUKKCN1R103H

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Tuesday 19 March 2019

We started the day with the Australian Monetary policy decision and while they kept rate unchanged, a cautious tone was ever present but not enough to induce weakness into the AUD as of yet.
The UK Average Earnings and Unemployment number release will only move the currency if figures differ from the expected ones, while at the same time the EUR could see some volatility due to the German Economic Sentiment.
We maintain our USDCAD bullishness as well as the possible decline and opportunity lurking on the EURSEK0 At the same a USDCHF sell off from lower highs cannot be ruled out.

https://uk.reuters.com/article/uk-global-forex/dollar-near-two-week-low-before-fed-meeting-yen-strengthens-idUKKCN1R003H?il=0

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Monday 18 March 2019

We start the week off with minimal fundamental figure releases, that are not too important ones either, which means that volatility will mostly be generated by market participants action raher than fundamental figure reaction. Our anticipation regarding the USDCAD and EURSEK are in effect with USDCAD remaining above the breakout level inviting buyers and EURSEK showing downside momentum and further sell off based on lower highs.

https://www.bloomberg.com/news/articles/2019-03-17/asia-stocks-set-for-gains-as-focus-turns-to-fed-markets-wrap?srnd=premium-europ

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