Markets in Details: 21 February 2019

21 February, 2019

News

  • Japan and South Korea both reported significant declines in shipments to China, thus providing evidence that the ongoing trade war can negatively impact other economies.
  • China placed the indefinite ban on imports of coal from Australia, thus sending the Australian dollar almost one percent down on Thursday morning. The ban is seen as retaliation against steps to curtail its 5G technology expansion; Australia followed the U.S. in banning Chinese company Huawei from its 5G network.

The focus of attention

  • Markets are starting to believe that the deadline of March 1 (for imposing new tariffs on Chinese imports) will be extended after President Trump’s recent remark that there was “no magical date” in the trade talks.

Expected events. All times GMT.

  • 0900 EU will release manufacturing and services PMIs.
  • 1200 Andy Haldane, BOE’s Chief Economist, will speak in Glasgow.
  • 1330 U.S. will release data on jobless claims.
  • 1445 U.S. will release manufacturing and services PMIs.

Technical Analysis

  • On Thursday, the AUD/USD pair dropped sharply to 0.7105 with no immediate counter-trend movement. The decline broke the short-term uptrend line, and the RSI broke the momentum support at 33%. Expect the pair to return to the EMA9 before it breaks it to reverse upwards or remains below it for a continuation of the trend.


Source link  
Markets in Details: 24 July 2019

Germany posted a significantly weak Manufacturing PMI which showed the country's manufacturing activity experienced a sharp...

Markets in Details: 18 July 2019

Would you like to learn more about economic calendar and the following events? Our analysts will give you the fundamental picture of present situation and show their view on markets from the technical side.

Markets in Details: 17 July 2019

The Dow failed to close at a new high overnight as U.S. investors reacted to President Trump's latest remark that the U.Sand China still have...


Markets in Details: 15 July 2019

Would you like to learn more about economic calendar and the following events? Our analysts will give you the fundamental picture...

Markets in Details: 04 July 2019

Despite the fact that U.S. equities closed higher on Wednesday, the chip sector continued to underperform as it is one of the sectors, which...

Markets in Details: 03 July 2019

Yesterday, the head of the IMF, Christine Lagarde, received near-unanimous backing to lead the European Central Bank in Brussels, replacing...


Markets in Details: 03 July 2019

Markets in Europe and the U.S. were flat on Tuesday after the record run of major U.S. indices fueled by the trade truce between the U.S...

Markets in Details: 25 June 2019

Despite major market indices trading near all-time highs, a crisis is evidently on the horizon causing traders to remain muted and showing...

Markets in Details: 21 June 2019

Would you like to learn more about economic calendar and the following events? Our analysts will give you the fundamental...

  


Share it on:   or