Hello, subscribers!
Please share your personal opinions in the comments. Don't forget to like and subscribe!
Key Points
- The U.S. February Services PMI preliminary reading came in at 49.7, falling below the benchmark 50 for the first time in 25 months.
- The finalized U.S. 1-year inflation expectation was confirmed at 4.3%, matching the preliminary reading but surging 1.0% from the previous month. Meanwhile, the finalized 5-year long-term inflation expectation was revised up by 0.2% to 3.3%.
- The South China Morning Post reported that a Chinese research team has discovered a new bat coronavirus that uses the same human receptor as the virus causing COVID-19, posing a potential risk of animal-to-human transmission.
- In the German federal election, the center-right Christian Democratic Union is expected to win. Markets are closely watching whether Germany’s constitutional "debt brake" will be eased after the election.
Key Economic Events This Week
+ Feb 24: Eurozone January CPI
+ Feb 25: Germany Q4 GDP
+ Feb 27: U.S. Q4 GDP
+ Feb 28: Germany February CPI, U.S. January PCE Price Index
EUR/USD Chart Analysis
The upward trend remains intact; however, the pair is struggling to break through the previous high. If it successfully surpasses this resistance level, a short-term rise to the 1.06000 level is expected, while in the mid-to-long term, it could form a peak around 1.08000.
However, if it fails to break through the 1.05000 resistance, a pullback toward 1.02000 may occur, after which the market will likely determine its next direction.
Please share your personal opinions in the comments. Don't forget to like and subscribe!
Key Points
- The U.S. February Services PMI preliminary reading came in at 49.7, falling below the benchmark 50 for the first time in 25 months.
- The finalized U.S. 1-year inflation expectation was confirmed at 4.3%, matching the preliminary reading but surging 1.0% from the previous month. Meanwhile, the finalized 5-year long-term inflation expectation was revised up by 0.2% to 3.3%.
- The South China Morning Post reported that a Chinese research team has discovered a new bat coronavirus that uses the same human receptor as the virus causing COVID-19, posing a potential risk of animal-to-human transmission.
- In the German federal election, the center-right Christian Democratic Union is expected to win. Markets are closely watching whether Germany’s constitutional "debt brake" will be eased after the election.
Key Economic Events This Week
+ Feb 24: Eurozone January CPI
+ Feb 25: Germany Q4 GDP
+ Feb 27: U.S. Q4 GDP
+ Feb 28: Germany February CPI, U.S. January PCE Price Index
EUR/USD Chart Analysis
The upward trend remains intact; however, the pair is struggling to break through the previous high. If it successfully surpasses this resistance level, a short-term rise to the 1.06000 level is expected, while in the mid-to-long term, it could form a peak around 1.08000.
However, if it fails to break through the 1.05000 resistance, a pullback toward 1.02000 may occur, after which the market will likely determine its next direction.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.