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2. www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date– 03– Mar
INTERNATIONAL CURRENCY BUZZ
EUR/USD
GBP/USD
The pound slid to the day’s lows against the dollar on Wednesday after data showing that
growth in the U.K. construction sector slowed to 10-month lows in February, on a drop in
housebuilding.GBP/USD eased to 1.3932 from around 1.3945 ahead of the data.The Markit
construction purchasing managers' index fell to 54.2 from January’s 55.0. Economists had ex-
pected the index to tick up to 55.5.It was the slowest increase in overall construction output
since April 2015.Housebuilding expanded at the slowest pace since June 2013 and construc-
tion firms hired staff at the weakest rate in two-and-a-half years.The report came a day after
a similar survey of the manufacturing sector, which showed that activity slumped to the low-
est in almost three years in February.The U.S. dollar index, which measures the greenback’s
strength against a trade-weighted basket of six major currencies, was close to one-month
highs at 98.48.
The EURUSD pair keeps its stability below 1.0890 level, showing slight bearish bias in attempt
to move away from the mentioned level, noticing that stochastic loses its positive momentum
gradually approaching from the overbought levels, which represents negative factor that we
wait to push on the price to continue the bearish bias in the upcoming period.Therefore, our
bearish trend expectations will remain valid efficiently on the intraday and short term basis,
supported by the negative pressure that comes from the EMA50, waiting for visiting 1.0750
level as a next main target, pointing that breaching 1.0890 level will stop the suggested nega-
tive scenario temporarily and pushes the price to test 1.1005 level initially.
Forex -Dollar rises against yen as risk appetite sharpens
Forex -Aussie rises on strong GDP data, kiwi holds steady
Forex -Yen sours as risk appetite returns, Aussie focused on GDP
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