ECB IS READY FOR HIGHER EURO
Over the past year, the ECB has progressively recalibrated its asset purchase programme. We have thereby tuned our monetary policy stance to the changing pitch of the recovery – what I have previously termed “accompanying the recovery”. During this time, the economy has developed even more strongly than we expected and confidence in the euro area has increased. But it is not because real growth is strong that we can declare the job done. There is a very clear condition for us to bring net asset purchases to an end: we need to see a sustained adjustment in the path of inflation towards our aim, which is a headline inflation rate of below, but close to 2% over the medium term. Read more @ https://www.ecb.europa.eu/press/key/date/2018/html/ecb.sp180314_1.en.html
GOOGLES BANS CRYPTO;
Google will ban all cryptocurrency-related advertising
- Google is cracking down on cryptocurrency-related advertising.
- The company will no longer allow ads about cryptocurrency-related content, including initial coin offerings (ICOs), wallets, and trading advice across any of its ad platforms.
- The move follows a similar ban by Facebook earlier this year. Read More @ https://www.cnbc.com/2018/03/13/google-bans-crypto-ads.html
US DATA DISAPPOINTS YESTERDAY BUT HOLDS WELL @ $89.
USD takes a Gap Down but holds well @ $89. We continue to look at USD for a BUY.
NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES
- NZD GDP disappoints the market – NZD falls more then 50pips. We stay neutral.
- 3.00pm – France will release their Final CPI – Volatility expected for EURO. We continue to maintain BUY for EURO.
- 4.15pm – 4.30pm – be cautious over SNB adjustments for Libor rate – Volatility for CHF pairs expected.
- 8.30pm – Canada employment – expected to be good – Time to SELL USDCAD.
- 8.30pm – US will release a series of data but Empire state Mfg Index is what we will be watching – expected to be good. We Buy USD.
Go slow till next week for the FOMC. Trade with good money management and avoid keeping trades over teh weekend
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