This document provides a daily market insight report which includes:
- Commentary on movements in the GBP/USD and EUR/USD currency pairs due to UK economic data showing slower wage growth and mixed risk appetite.
- The daily economic calendar highlighting upcoming US data releases and FOMC meeting minutes.
- Charts of the GBP/USD and EUR/USD pairs with technical analysis and trading recommendations.
2. www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date– 18– Feb
INTERNATIONAL CURRENCY BUZZ
EUR/USD
GBP/USD
The pound edged lower against the dollar on Wednesday after the latest U.K. jobs report
showed that wage growth slowed in the last three months of 2015, underlining expectations
that interest rates will remain on hold for longer.GBP/USD slid from around 1.4289 ahead of the
data to an intra-day low of 1.4265.The Office for National Statistics said the unemployment rate
remained unchanged at 5.1% in the three months to December, matching the three months to
November which was the lowest since mid-2005.Economists had expected the jobless rate to
tick down to 5.0%.Annual wage growth, including bonuses, rose 1.9% in the three months to De-
cember, matching forecasts, but slowing from 2.1% in the three months to November.The U.S.
dollar index, which measures the greenback’s strength against a trade-weighted basket of six
major currencies, was last at 96.93.
The shared currency has recovered the smile so far on Wednesday, pushing EUR/USD to test
fresh daily tops near 1.1170.The pair is posting gains for the first time since Friday, finding quite
decent support around the 1.1100 neighbourhood in a context where risk aversion and risk appe-
tite keeps alternating the dominance. Absent releases in Euroland, traders’ attention will shift to
the US docket, where Housing Starts, Building Permits, Producer Prices, Industrial Production and
Capacity Utilization are all due later ahead of the more relevant FOMC minutes.The pair is now
advancing 0.18% at 1.1163 facing the next hurdle at 1.1220 (23.6% Fibo of December up-move)
followed by 1.1378 (high Feb.11) and then 1.1460. On the flip side, a breakdown of 1.1059 (200-
day sma) would target 1.0965 (61.8% Fibo of December up-move) and finally 1.0709 (YTD low
Jan.5).
Forex - Aussie and kiwi lose ground vs. greenback in late trade
Forex - Sterling dips as U.K. wage growth slows
Forex - Dollar holds steady ahead of U.S. data, Fed minutes
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