Weekly Outlook: 2017, February 26 - March 05

Durable Goods Orders, GDP data from the US, Australia, and Canada, US Consumer Confidence, Manufacturing PMI, Crude Oil Inventories, Unemployment Claims and rate decision in Canada. These are the main events on forex calendar.

Attachment 25759

1. US Durable Goods Orders: Monday, 13:30. Durable Goods Orders are expected to climb 1.6% while core orders are expected to gain 0.5%.
2. US GDP data: Tuesday, 13:30. US GDP growth is expected to reach 2.1% in the fourth quarter.
3. US CB Consumer Confidence: Tuesday, 15:00. Consumer moral is expected to register 111.1 in January.
4. Australian GDP data: Wednesday, 0:30. Economists expect the Australian economy will grow by 0.7% in the fourth quarter.
5. Canadian rate decision: Wednesday, 15:00. The BoC upwardly revised its 2017 GDP outlook to 2.1%, despite the strong Canadian dollar weighing on exporters as well as concerns over US trading policy.
6. US ISM Manufacturing PMI: Wednesday, 15:00. Manufacturing PMI is expected to rise to 56.1 this time.
7. US Crude Oil Inventories: Wednesday, 15:30.
8. Canadian GDP: Thursday, 13:30. Analysts expect a growth rate of 0.3% in December.
9. US Unemployment Claims: Thursday, 13:30. The number of claims is expected to inch up to 245,000 this week.
10. US ISM Non-Manufacturing PMI: Friday, 15:00. US services sector is expected to reach 56.6 in February.

the source

EUR/USD had a relatively balanced week, dipping to the downside but never going too far. The upcoming week is packed with PMI data, inflation figures and more. Will the pair move decidedly to one direction or another?

Attachment 25760

1. Spanish Flash CPI: Monday, 8:00.
2. Monetary data: Monday, 9:00. Similar numbers are expected.
3. French CPI: Tuesday, 7:45.
4. French GDP: Tuesday, 7:45. This is a revision for Q4 data.
5. CPI (flash): Tuesday, 10:00.
6. Manufacturing PMIs: Wednesday morning: 8:15 for Spain, 8:45 for Italy, the final French number at 8:50, final German figure at 8:55 and the final euro-zone score at 9:00.
7. German unemployment change: Wednesday, 8:55. The No. 1 economy in the euro-zone enjoys a strong jobs markets.
8. German CPI: Wednesday morning from the various states, with the all-German figure coming out at 13:00.
9. Spanish Unemployment Change: Thursday, 8:00.
10. Unemployment rate: Thursday, 10:00. Similar to Spain, the unemployment rate for the euro-zone is improving, but remains high, standing at 9.6% in December. This was better than expected.
11. PPI: Thursday, 10:00.
12. Services PMIs: Friday morning: 8:15 for Spain, 8:45 for Italy, the final French number at 8:50, final German figure at 8:55 and the final euro-zone score at 9:00.
13. Retail Sales: Friday, 10:00.

the source

CAC 40 has blasted to new 2017 highs, as global equities markets continue to rally on new optimism. At this point in Thursday’s trading the CAC 40 is up +0.21%. Top winners for the CAC 40 include Engie SA (+7.81%) and LafarageHolcim (+3.04%). Losers for the day include Essilor International (-1.92%) and Pernod LOreal (-1.02%).

Attachment 25846

Technically, the CAC 40 is now trending higher in both the long and short terms. The Index is currently trading well above its 10 Day EMA (exponential moving average) after yesterday’s advance. This average is found at 4,904.78, and is now acting as a value short term support for the Index. It should be noted after yesterday’s breakout, that the previous line of resistance found at the February 15th high of 4,943.80 may also be considered as a point of ongoing support on the daily graph.

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