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End Of Month Account Balancing


1 March 2023 Written by Stuart Cowell  HF Markets Head Market Analyst Stuart Cowell

After the worst week since September for stock markets last week, on Monday the US and Europe markets closed flat and end of month profit taking and account balancing has tipped Asia into the red today. The USD tested 2023 highs (105.35) yesterday but is lower today.  Overnight: Japan reported strong CPI (3.15), Housing and Retail Sales data AUD Retail sales picked up (1.9% vs. -4.0%) and GER Import prices were weaker than expected as energy prices continue to decline. 

Today – French & Spanish Prelim. CPI, Swiss KOF, Canadian GDP, US Chicago PMI, Consumer Confidence, Speeches from BoE’s Pill, Cunliffe & Fed’s Goolsbee. Biggest FX Mover @ (07:30 GMT) NZDUSD (-0.28%). Declined to 0.6130 yesterday before recovering to 0.6180 and back to 0.6145 now. MA’s aligned lower, MACD histogram & signal line negative & declining, RSI 38.60, H1 ATR 0.00080, Daily ATR 0.00637.

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