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2. www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date– 28–AUG
INTERNATIONAL CURRENCY BUZZ
GBP/USD
EUR/USD
The bid tone around the EUR/USD pair keeps reducing as we head into the European opening bells, as
the greenback pares losses from Asia against its major competitors. While focus shifts back to the US
GDP data due to be reported later in the New York session. The EUR/USD pair trades 0.23% higher at
1.1340, retreating from 1.1357 reached in the early Asian trading. The major shed some early gains as
the USD bulls seem to regain ground somewhat and resume its previous rally backed by surprisingly
upbeat US durable goods orders print. Moreover, ongoing risk sentiment further bolstered by Chinese
equities joining the Asian rally also continues to weigh on EUR/USD, restricting further up moves. On
Wednesday, EUR/USD erased Monday’s gains entirely and dropped below 1.13 barrier after the US
dollar jumped following the release of positive US durable goods data and also tracking stronger US
equities performance. Looking ahead, the main currency pair is likely to track USD moves as the New
York session holds the much awaited US Q2 GDP figures while the Jackson Hole Symposium will also
remain in focus.
FOREX-Dollar index edges up to 4-day high ahead of U.S. GDP data
FOREX- NZD/USD edges higher but gains seen limited
FOREX- Yen weaker after Kuroda remarks, markets focused on China
The increased bid tone around the US dollar finally sweeps the cable off its feet, now pushing GP/
USD back near session lows below 1.55 handle. The GBP/USD pair trades 0.12% higher at 1.5479, find-
ing stiff barrier at 1.5500. The cable gave up its struggle to reclaim 1.55 handle and trimmed gains, fal-
ling further towards the session lows, as the pound finally surrendered to the strengthening US dollar,
riding higher on the back of stabilizing global equities and upbeat US durable goods data released in
the US last session. Moreover, Chinese markets bouncing today also bolstered the prevailing risk-
sentiment, further increasing the demand for the newly pronounced risk currency – the USD. The US
dollar index , a virtual measure of greenback’s strength now trades 0.10% higher at 95.38. Markets
now shift focus towards the US data due later today which may have major influence on the cable. US
Q2 GDP report will be reported along with weekly jobless claims and pending home sales data.
3. Iforex Market Insight
Date– 28–AUG
www.epicresearch.sgIforex Market Insight Report By Epic Research Singapore
ECONOMIC CALENDAR
Time Cur. Event Forecast Previous
Friday, August 28, 2015
01:45 CHF GDP (QoQ) (Q2) -0.1% -0.2%
01:45 CHF GDP (YoY) (Q2) 0.9% 1.1%
04:30 GBP Business Investment (QoQ) (Q2) 1.7% 2.0%
04:30 GBP GDP (QoQ) (Q2) 0.7% 0.7%
04:30 GBP GDP (YoY) (Q2) 2.6% 2.6%
08:30 USD Core PCE Price Index (MoM) (Jul) 0.1% 0.1%
08:30 USD Core PCE Price Index (YoY) (Jul) 1.3% 1.3%
08:30 USD Goods Trade Balance (Jul) -62.26B
08:30 USD Personal Spending (MoM) (Jul) 0.4% 0.2%
08:30 CAD RMPI (MoM) (Jul) -4.0% 0.0%
10:00 USD Michigan Consumer Expectations (Aug) 83.8
10:00 USD Michigan Consumer Sentiment (Aug) 93.0 92.9
15:30 GBP CFTC GBP speculative net positions -4.0K
15:30 USD CFTC Gold speculative net positions 41.7K
15:30 USD CFTC S&P 500 speculative net positions -146.6K
15:30 AUD CFTC AUD speculative net positions -49.9K
15:30 EUR CFTC EUR speculative net positions -92.7K
22:25 GBP BoE Gov Carney Speaks
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