The document provides a daily market insight report that includes: international currency buzz discussing movements in the dollar, pound, and euro; upcoming economic data releases for the day; manufacturing PMIs and other economic indicators; and daily charts and trading recommendations for GBP/USD and EUR/USD currency pairs. Key points include the dollar strengthening against the yen on upbeat US GDP data, the pound struggling around 1.3260, and the euro turning flat below 1.14 as the US dollar index clings to gains above 96.
1. Iforex Market Insight
EPIC RESEARCH MALAYSIA
INTERNATIONAL CURRENCY BUZZ
ECONOMIC CALENDAR
GBP/USD & EUR/USD HOURLY CHART
2. www.epicresearch.myIforex Market Insight By Epic Research Malaysia
Iforex Market Insight
Date– 01 March
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar near 10-week high vs. yen on upbeat U.S. GDP
Forex- GBP/USD struggles around 1.3260 at the beginning of an eventful day
Forex - EUR/USD turns flat below 1.14 as DXY clings to gains above 96
GBP/USD
EUR/USD
The EUR/USD pair rose to its highest level since February 5 at 1.1420 earlier in the
day but failed to preserve its momentum in the second half of the day. As of writing,
the pair was virtually unchanged on a daily basis at 1.1372. The broad USD weakness
during the European trading hours allowed the pair to puısh higher above the 1.14
handle. However, with the U.S. Bureau of Economic Analysis in its initial estimate an-
nouncing that the real GDP is seen expanding 2.6% in the fourth quarter and the ISM
-Chicago's PMI rising to its best level in 14 months, the dollar started to outperform
its rivals and forced the pair to retrace its daily advance. At the moment, the US Dol-
lar Index is up 0.1% on the day at 96.20 and looking to close the second straight day
in the positive territory. Additionally, following impressive upsurge, the 10-year US T-
bond yield extended its rally and climbed to its highest level in more than three
weeks to provide additional support to the buck.
GBP/USD is taking the bids around 1.3260 during early Asian trading on Friday. The
pair slipped off a seven-month high of Wednesday and posted declines on Thursday
as investors reassessed chances of a smooth Brexit during silence on the economic
calendar and less drama in the UK parliament. Friday is likely to deviate from the re-
cent pattern of no major British data as the February month Markit manufacturing
PMI from the UK is up for release whereas the US Fed Chair Jerome Powell’s speech
in next few hours will also gain market attention. The GBP/USD pair rallied to a seven
-month high during early-week after the British Prime Minister Theresa May bright-
ened chances of a no-deal Brexit in the parliament. However, lack of big political
moves and no major data on the economic calendar pushed investors to trim some
of their profits off the British Pound (GBP) while reassessing soft Brexit chances.
5. EPIC RESEARCH MALAYSIA
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