Current Sentiment | Upcoming Risk Events

Jarratt Davis

Special Consultant to the FPA
There is no trade call for the session. Coming up during London we have the German Preliminary GDP as well as the EZ Flash GDP prints. Watch the weekly risk events video here to learn more about these releases.

Current Sentiment:

Yesterday's NY session was again light in terms of data; weekly jobless claims came in slightly better than expected, while Canada New House Pricing Index came in slightly lower than prior and expectations.

Yellen's testimony was largely a reiteration of Wednesday's. She did mention that wage growth could be picking up but it's too early to tell. Data will be assessed as the March meeting approaches.

US equities indexes closed lower during the session, following declines in both Asia and Europe.

During Asia we heard comments from the RBA's Stevens where he downplayed the current global economic situation. He said “It’s hard to deny that global growth outlook today looks not as good,” noting official forecasts “for what they are worth” were still being gradually moved lower. “But my instinct is I think some of the gloom and doom is overdone,” he added. Overall there really wasn't any new insight concerning the policy of the RBA.

Australian home loans in December rose a less than expected 2.6% after decreasing 0.3% in October. Market consensus was for a 3.0% rise. The AUD has been little affected during the session.

Asian equities have once again continued their decline with the Nikkei, Topix, Hang Seng, and ASX all moving lower.

P.S. - If you want to learn more about how I trade, check out the link below

Jarratt Davis - Free Forex Course