Markets in Details: 18 March 2019

18 March, 2019

News

  • Japan registered lower industrial output in January, the weakest in 12 months. Production machinery, electrical machinery, and motor vehicles were the hardest hit production segments. Imports also saw the biggest drop in more than 2 years with imports from China, Saudi Arabia, and Indonesia contributing the most to the weakness.

The focus of attention

  • Markets will be closely watching developments from the U.K. which is exactly 11 days away from Brexit. The lack of certainty means businesses are completely in the dark as to what trade rules they need to comply with come March 29.

Expected events. All times GMT.

  • 10:00 EU will release eurozone trade balance for January
  • 15:10 ECB’s Chief Economist will give a speech

Technical Analysis

  • NZD/USD is showing an ascending triangle pattern on the daily view registering three higher price support levels since January. RSI too has shown positive momentum, staying above 50% over recent weeks. Expect the bullish potential to be realized when this pair breaks above 0.6966 in the short-term.

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