Markets in Details: 19 February 2019

19 February, 2019

News

  • The U.S. is currently considering whether to impose a 25% tariff on imported vehicles. This would start another trade war, this time with the EU. President Trump has 90 days to decide whether auto imports are a national security threat.

In the spotlight

  • Markets are likely to react to news that Honda will exit the UK. The headline came after Nissan abandoned its plan to build a new model in Sunderland and Jaguar announced it was slashing 4,500 jobs worldwide.

Expected events. All times GMT.

  • 0930 UK will release data on employment change and earnings in December.
  • 1000 Germany will release February’s ZEW economic sentiment index.

Technical Analysis

  • EUR/USD is currently trading within a range with an upper limit at 1.1339 and a lower one at 1.1254. The pair tried to test the upper boundary but the selling pressure stopped its moving around 1.1322 at about 0800 GMT. Since then, the pair has been trading down and broke the support at 1.1295. Expect further weakness during the day as it looks like the momentum support at 37% is going to be broken as well.


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