Market Brief March 13th: German ZEW today
Interestingly enough, the Governor of People’s Bank of China, Zhou Xiaochuan has said that digital currencies are technically “inevitable”. He points out that the main goal of cryptocurrencies was to enhance monetary convenience and save people from paying exchange costs. Howver, the highly speculative nature and unpredictable volatiltiy. From trading perspective, this is what is required – a market that moves by a significant amount. Until the governor makes the regulation official, we could continue trading those movements.
EUR, 10:00 a.m. GMT, German ZEW Economic Sentiment (Mar) – a crucial leading indicator lookong 6 months ahead in the economy. Last time, the reasing was better than expected and came out at 17.8 for the month of March. The outlook for the economy is based on the opinion of 350 institutional investors and analysts from Germany. Should the actual reading today beat expectations, this is to be read as a bullish signal for the euro. And, vice versus, a much weaker result that surprises the market should be read as having a negative impact on the currency.
The United States
USD, 12:30 p.m. GMT, Core CPI (MoM) (Feb) – a key measurement of purchasing trends and inflation from a consumer perspective. The Consumer Price Index measures the change in price of goods and services with the exception of food and energy. Market analyst projections are for a drop at 0.2% in February compared to 0.3% scored in January. The news coming out today is better than projected, this should boost the value of the dollar. A much lower result, however, would likely cause the currency to fall.
CAD, 14:15 p.m. GMT, BoC Gov. Poloz Speaks – the head of the Central Bank in Canada has the biggest sway when it comes to comments moving the currency. He comments and discusses economic conditions and factors that have brought to the current interest rates and monetary policy going forward.
Wishing you Happy and Successful trading!
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