Commodities Precious Metals Forex Energy Commodities EUR/USD USD/JPY GBP/USD USD/CHF USD/CAD AUD/USD NZD/USD EUR/GBP Soft Commodities Hard Commodities Bitcoin Emerging Market Currencies EUR/JPY

Forex And Commodity Market Round-Up

EUR/USD:

The euro traded lower against the U.S. dollar, as concerns over new debt talks between Greece and the European Union continue to weigh on the euro. Although Greece submitted a request for an extension of its existing loan agreement, the German Finance Minister Wolfgang Schäuble replied that the Greek loan proposal was “not a substantial proposal for a solution”. Another round of talks between Greece and the European Union was scheduled to take place.

On Friday, the eurozone’s preliminary manufacturing PMI increased to 51.1 in February from 51.0 in January, missing expectations of a rise to 51.6. The eurozone’s preliminary services PMI rose to 53.9 in February vs. 52.7 in January. Analysts had expected the index to climb to 53.2. Germany’s preliminary manufacturing PMI remained unchanged at 50.9 in February, missing forecasts of an increase to 51.8. Germany’s preliminary services PMI increased to 55.5 in February from 54.0 in January, beating expectations for a gain to 54.3. France’s preliminary manufacturing PMI fell to 47.7 in February from 49.2 in January, missing forecasts of a rise to 49.7. France’s preliminary services PMI rose to 53.4 in February from 49.4 in January, exceeding expectations of a gain to 49.9.

The European economic data:

IFO expectations in Germany at 10.00 Saudi Arabia time

IFO business climate in Germany at 10.00 Saudi Arabia time

IFO current assessment in Germany at 10.00 Saudi Arabia time

The American economic data:

Existing Home Sales change at 18.00 Saudi Arabia time                                                                    

GBP/USD:

The British pound traded lower against the U.S. dollar. Retail sales in the U.K. decreased 0.3% in January, missing expectations for a 0.1% drop, after a 0.2% gain in December. December’s figure was revised down from a 0.4% rise. The increase was driven by lower food, clothing and footwear sales. On a yearly basis, retail sales in the U.K. climbed 5.4% in January, missing expectations for a 6.0% rise, after a 4.0% increase in December. December’s figure was revised down from a 4.3% increase.

The British economic data:

CBI distributive trades survey at 14.00 Saudi Arabia time

USD/JPY:

The Japanese yen traded lower against the U.S. dollar. In the overnight trading session, the yen traded lower against the greenback after comments from Bank of Japan Governor Haruhiko Kuroda. Kuroda mentioned on Friday that there are a lot of policy options, and that it is possible to achieve the 2% inflation target.

The Japanese economic data:

Corporate service price at 02.55 Saudi Arabia time                                                                   

AUD/USD:

The Aussie traded higher against the greenback in the absence of any major economic reports from Australia.

The Australian economic data:

No data for today                                                                              

GOLD:

The precious metal ended the week trading higher against the dollar, after reaching a low of $1199. The absence of US economic data and the uncertainty regarding Greece restored some momentum for gold.                    

OIL:

US crude oil fell on Friday due to record-high oil inventories in the United States. Oil is now under pressure and is heading towards the first weekly loss recorded during the last four weeks.     

FOREX trading is not suitable for everyone as it contains a risk of losing your investment. This article should not be treated as a recommendation, as it’s to assist our followers and readers by giving them a better understanding of the market movements.

Avatar
Rate this post
Total: 0 Average: 0

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.