Daily News: Wednesday, February 28

Daily News: Wednesday, February 28

Let’s look at results with which we are coming to the end of the month.

  • Yesterday Mr. Powel gave his first speech as Federal Reserve Chairman. The testimony was expectedly hawkish. The new chairman announced that the Fed will gradually increase rates. After Powell’s speech, the US dollar could strengthen and rise against major currencies. However, today we can see that the greenback is falling against some currencies again. Let’s look closer.
  • The euro plunged after Powell’s speech. The EUR/USD pair broke the support at 1.2260 and closed at 1.2231. The break of the support is negatively influencing its possibilities. The next support is at 1.22. Today European inflation data will be released (12 MT time), so the euro has hope for support. If the CPI data is not good enough, it is not so much time until Italian parliamentary and German coalition elections (March 4). Maybe the positive news will support the euro.
  • The yen is appreciating again. The BOJ announced a minor reduction of Japanese Government Bonds purchasing. It was just one change since February 23: 70b yen of bonds maturing in over 25 years vs 80b on February 23. The change is small, but it affected the USD/JPY pair. Currently, it is near 107, far from an important level of 106, but looking at the dynamics anything can happen.
  • The pound is slightly declining, however, its position is unclear now. UK prime minister Teresa May and BOE Governor Mark Carney will give speeches on Friday, March 2. Teresa May will talk about Britain's post-Brexit relationship with the European Union. Mr. Carney will discuss the evolution of money and the emergence of cryptocurrencies. Such public speeches always affect currencies. So let’s look if they are enough optimistic to support the sterling.
  • The Australian dollar is recovering. Tomorrow quarterly private capital expenditure will be announced. If actual data is higher than forecast, the Aussie will get a support, but the plunge was too big, so the Aussie needs more positive data.
  • Stocks fell based on the hawkish Powell’s testimony. Tighter monetary policy and rate hikes led to the fall of the stock market.
  • There are no changes in positions of other currencies. Important data is not anticipated anytime soon.


Latest news

Gold and Bitcoin Rise, Fed is Eyed
Gold and Bitcoin Rise, Fed is Eyed

Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera