FOCUS OF THE WEEK!
Dear traders,
The last week of February is full of data for the USA and China.
Starting on Tuesday, the economic calendar will be full of statistics. This day, it is expected data for the United States: building permits and publication of business confidence. At the end of the day, the head of the US Federal Reserve, Powell, will speak.
On Wednesday, the market’s main focus will also be on the US data: employment, durable goods orders and the US oil reserves. Also on this day, there are inflation data in Canada.
On Thursday, the day will be saturated with data on business activity (PMI) for China, Switzerland’s GDP, inflation in Germany and US GDP. Separately, it is necessary to highlight data on the United States, that are expected to be very weak, which will put pressure on the American dollar.
On Friday, business activity data (PMI) will be released in China, Switzerland, Germany, the eurozone, the UK and the USA. Also this day, there are data on the GDP of Canada.
The corporate reporting calendar is full of reports from companies that will have a restrained influence on the market.
The main fundamental factor will continue to be the expectation of trade agreements between the United States and China, that are on the verge of ending negotiations according to many rumors. The negotiations between the EU and the UK regarding the Brexit deal remain in the background. (Anton Hanzenko)
Have a good trading week!
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