Market Overview 2018.02.28

28-02-2018 09:37:36
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EUR/USD

The euro has weakened against the US dollar during Asian trade. The US currency is continuing its fortunes that began yesterday after testimony before the Congress, Jerome Pavel, president of the US Federal Reserve. In his address, the President of the Fed, reflected positively on the state of the US economy, which added optimism before the next meeting of this institution in March, which should decide on the level of the interest rate. Today, at 11:00 am, the Consumer Price Index (CPI) in the Eurozone will be published, while at 14:30 a reading of the US Gross Domestic Product will be published, which together can create increased price fluctuations in the exchange rate of this currency pair. During the Asian trade, the euro weakened against the US dollar by 0.07%.

EUR/USD by SGT Markets Forex Broker and CFD | February 28, 2018 EUR/USD indicators by SGT Markets Forex Broker and CFD | February 28, 2018

GBP/USD

The British pound weakened against the US dollar during Asian trading. The US currency strengthens against major currency rivals, mostly due to yesterday’s testimony before the Congress, Jerome Pavel, president of the Federal Reserve of the United States, in which he reverted to the US economy. Today, 14:30 will be a reading of the US gross domestic product, while at 16:00 in the US, information on the number of houses sold in the approval process will be published, which can be reflected in the exchange rate of this currency pair. During the Asian trading, the British pound weakened against the US dollar by 0.12%.

GBP/USD by SGT Markets Forex Broker and CFD | February 28, 2018 GBP/USD indicators by SGT Markets Forex Broker and CFD | February 28, 2018

USD/JPY

The US dollar weakened against the Japanese yen during Asian trading. Despite Japan’s poorer retail and industrial data, yesterday’s turnover of the Governor of the Bank of Japan, Huruhika Kuroda, in front of the Japanese parliament, strengthened the Japanese yen. The first man of the Bank of Japan, said that if inflation reached the target level, the monetary policy of this institution would go towards normalization, which is one possible signal that the ultra-light monetary policy program could be abandoned in the future. Today, 14:30 will be a reading of the US gross domestic product, while at 16:00 in the US, information on the number of houses sold in the approval process will be published, which can be reflected in the exchange rate of this currency pair. During the Asian trading, the US dollar weakened against the Japanese yen by 0.23%

USD/JPY by SGT Markets Forex Broker and CFD | February 28, 2018 USD/JPY indicators by SGT Markets Forex Broker and CFD | February 28, 2018

GOLD

Gold prices strengthened during Asian trade. Despite the current strengthening of gold price, strong US dollar strengthening still holds the price of this precious metal around the lowest level in the last two weeks. Today, a reading of the US gross domestic product will be published, while at 16:00 also in the US, information on the number of houses sold will be published in the approval procedure, which can be further reflected in the price of gold. During Asian trading, the price of gold increased by 0.09%.

GOLD by SGT Markets Forex Broker and CFD | February 28, 2018 GOLD indicators by SGT Markets Forex Broker and CFD | February 28, 2018

OIL

During Asian trade, the price of crude oil has weakened. Yesterday’s report of the US Petroleum Institute, although it was lower than expected, showed an increase in crude oil stocks in relation to last week, which has weakened the price of this fuel. The current increase in crude oil production in the United States is pushing the OPEC cartel’s efforts to reduce the production of this fuel by increasing the price of crude oil. Today at 16:30 a US government report will be published on the stock of this fuel, which can be further reflected in the price of crude oil. During Asian trade, the price of crude oil declined by 0.56%.

OIL by SGT Markets Forex Broker and CFD | February 28, 2018 OIL indicators by SGT Markets Forex Broker and CFD | February 28, 2018