Jerome Powell’s Testimony: 6 Takeaways

In a wide-ranging discussion with lawmakers on the House Financial Services Committee on Tuesday, Federal Reserve Chairman Jerome Powell painted a relatively optimistic picture of the U.S. economy even as he pointed to balanced risks to the “strong” outlook.

He dampened concerns about negative spillover effects to the economy from the recent spike in market volatility, reiterated prior policy guidance for a further “gradual increase” in policy interest rates, and signaled his commitment to cognitive diversity to enhance good decision-making. More specifically:

  1. Powell observed that accelerating U.S. expansion is occurring in the context of a “moment of global growth,” when headwinds have shifted to tailwinds. This is reinforcing the domestic pro-growth impact of favorable consumption and business investment, stronger sentiment and sales, and more stimulative fiscal policy. Read More @ https://www.bloombergquint.com/view/2018/02/27/jerome-powell-s-testimony-6-takeaways-from-mohamed-a-el-erian

OIL ISSUES

OPEC to meet with U.S. shale firms in Houston on Monday

OPEC will hold a dinner on Monday in Houston with U.S. shale firms, two industry sources said, the latest sign of the producer group widening talks about how best to tame a global oil glut. Read More @ https://uk.reuters.com/article/uk-oil-opec-usa/opec-to-meet-with-u-s-shale-firms-in-houston-on-monday-sources-idUKKCN1GB2KU

Three Potential Italian Election Scenarios and Likely Market Impact

The Italian elections are now just one week away and the latest polling results continue to highlight uncertainty around the event. Some polls suggest that the Eurosceptic Five Star Movement will win while most highlight the likelihood of a hung parliament, where no single party can achieve a majority. With a view to best gauging the market’s reaction in response to the outcome of the election, it’s important to consider the different scenarios we might see in the outcome of next week’s vote. Orbex explores three potential Italian Election scenarios and the likely impact on the market. read more @ https://www.orbex.com/blog/en/2018/02/italian-elections-scenarios

WHAT IS THS USD INDEX SAYING?

We still maintain SELL for USD.

NEWS THAT MIGHT IMPACT YOUR TECHNICAL TRADES TODAY.

  1. 8.52am – China PMI data is neutral but above 50; not much impact on the market.
  2. 3.00pm – German Consumer Spending – we believe is going to be good, we look for entries for a BUY.
  3. 3.45pm – French Consumer Spending, CPI & GDP – we believe all 3 datas will be good.
  4. 4.55pm – German Unemployment Change – we are expecting a good data.
  5. 6.00pm – Important data from EURO – CPI – EURO is expected some good volatility in favor of the EURO. We maintain BUY for EURO.
  6. 9.30pm – US GDP – We are expecting below 2.5% – we maintain SELL for USD.
  7. 11.00pm – Pending Homes – US. Data no change – we maintain SELL for USD.
  8. 11.30pm – The night will end with Oil Inventories – which is expected to be negative – we maintain BUY for OIL

The market has moved fundamentally against all technical charts – we believe the recent rise of the USD is temporary and we believe there is more downside for the USD. Observe good money management at all times.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary

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