
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
The most traded pair is falling. All the moving averages are in descending order, which confirms the current downtrend. Now EUR/USD is heading towards the key psychological mark of 1.2000. The move below it will drive the pair down to the next round number of 1.1950. On the flip side, the move above the intraday high of 1.2050 will push the pair to yesterday’s high of 1.2090.
The kiwi rose on the positive job data, but the upside is limited by the high of January 26 at 0.7250. It has failed to cross this level a few times already, so we can expect that the pair may bounce off again as the USD is quite strong and the pair is forming lower lows. Support levels are 0.7150 and 0.7100.
The British pound has approached the key support of 1.3650, which it has been unable to break so many times this year. If it manages to cross it this time, the way down to the 200-period moving average of 1.3600 will be clear. Resistance levels are 1.3700 and 1.3750.
USD/JPY has just broken through the psychological mark of 105.00, clearing the way up to the 200-day moving average at 105.60. The pair isn’t likely to cross it on the first try. So, when it reaches 105.60, the pullback is expected. Support levels are 104.50 and 104.60.
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
On Thursday, February 25, at 15:30, the initial jobless claims will be published in the US.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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