Daily Archives: February 19, 2018


GBP/USD reinforce above 1.40

  • Link blurs the spike to 1.4050.
  • Carney is expected to talk later today.
  • US markets will stay close

The Sterling is currently substituting picks up with misfortunes versus the greenback toward the start of the week, taking GBP/USD to the 1.4020/30 band.

GBP/USD consideration regarding Carney

Link is hoping to solidify in the lower en of the current range following Friday’s sharp drop, where it appears to have discovered some good help in the 1.4000 neighborhood.

Rangebound exchanging around the buck is likewise working together with the absence of course in the match toward the start of the week, all in the midst of thin exchange conditions and rare unpredictability because of the occasion in US markets.

On the situating front and following the most recent CFTC report, GBP net yearns dropped to 7-week lows in the week to February 13.

In any case, GBP should remain careful on the forthcoming discourse by Governor M.Carney, especially after the hawkish tone conveyed by the national bank at its most recent gathering prior in the month.

GBP/USD levels to consider

As of composing, the match is losing 0.01% at 1.4026 and a break of 1.3998 (low Feb.16) would go for 1.3948 (10-day sma) and afterward 1.3765 (low Feb.9). On the upside, the following obstacle rises at 1.4146 (high Feb.16) backed by 1.4154 (close term protection line) lastly 1.4280 (high Feb.2).

GBP/USD reinforce above 1.40



FBM KLCI is expected to extend its gains today

The FBM KLCI is expected to extend its gains on resuming trade today in line with the close at most global markets last Friday after the extended weekend to celeberate the Lunar New Year.

The ringgit is also likely to be in focus today after it firmed up 0.57% in pre-holiday trade last Thursday and was quoted at 3.8942 to the greenback.The dollar rose and stocks around the globe rallied for a sixth straight session on Friday to post their best week in more than two years, but a U.S. indictment over alleged Russian meddling in the 2016 presidential election cooled gains on Wall Street, according to Reuters.


The 37-page indictment of a Russian internet agency filed by Special Counsel Robert Mueller described a conspiracy with the aim of supporting Donald Trump and sowing discord in the U.S. political system, it said.On Wall Street, the Dow Jones Industrial Average closed up 19.01 points, or 0.08 percent, to 25,219.38. The S&P 500 gained 1.02 points, or 0.04 percent, to 2,732.22 and the Nasdaq Composite dropped 16.97 points, or 0.23 percent, to 7,239.47, said Reuters.







  • Gold prices fell Friday but were set to clinch their biggest weekly win in nearly two years despite a rebound in the greenback from three-year lows. Gold futures for April delivery on the Comex division of the New York Mercantile Exchange fell by $5.70, or 0.42%, to $1,349.70 a troy ounce. In the wake of a rebound in the dollar, gold prices fell but remained well supported as traders continued to mull over the impact of rising inflation on the precious metal.
  • Natural gas futures were higher on Thursday, finding support after data showed that domestic supplies in storage fell more than forecast last week. Front-month U.S. natural gas futures gained 1.7 cents, or around 0.6%, to $2.603 per million British thermal units (btu) by 10:45AM ET (1545GMT). Futures were at around $2.593 prior to the release of the supply data. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 194 billion cubic feet (bcf) in the week ended Feb. 9, above forecasts for a withdrawal of 183 bcf.
  • Crude oil prices settled higher shrugging off data showing the number of US oil rigs rose for the fourth straight week. On the New York Mercantile Exchange crude futures for March delivery rose 34 cents to settle at $61.68 a barrel, while on London’s Intercontinental Exchange, Brent gained 37 cents to trade at $64.70 a barrel. The number of oil rigs operating in the US jumped by seven to 798, the highest level since April 2, 2015, according to data from energy services


  • The Canadian government is evaluating what impact lower U.S. corporate taxes could have on competitiveness north of the border, the finance minister said on Friday, though he gave no details on what Canada might do in response. Finance Minister Bill Morneau met with a group of private sector economists earlier in the day to discuss the Canadian outlook ahead of the release of the federal government’s budget later this month.
  • The Canadian government plans to open free trade talks with the four-nation Mercosur trading bloc in South America, an official said on Friday, at a time when the future of NAFTA is facing increasing uncertainty. Canada sends around 75 percent of its goods exports to the United States and is looking for new markets to reduce the reliance on its southern neighbor. Trade Minister Francois-Philippe Champagne is set to arrive in Paraguay on March 9 to launch talks with Mercosur, which also includes Argentina, Brazil and Uruguay.
  • A Brexit deal should strike a balance to ensure Britain clearly diverges from the European Union’s single market but keeps close economic ties with the bloc, German Chancellor Angela Merkel said after meeting British Prime Minister Theresa May on Friday. With little more than a year to go before Britain leaves the EU, Merkel struck an upbeat tone


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