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Economic Events Feb 26-Mar 1: Forex Market Impact – Get Our Exclusive Insights

During the last week, the Dollar Index slightly retreated, closing at $104.150, reflecting a 0.30% fall. Conversely, the EUR/USD pair edged higher to 1.08175, gaining 0.40%, while the GBP/USD and AUD/USD pairs also recorded increases, each up by 0.50% and 0.53%, respectively.

Economic Events

These movements were shaped by several pivotal events:

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  • The GBP Rightmove HPI surpassed expectations with a 1.3% rise, hinting at a robust housing market.
  • Economic reports and bond auctions across Europe and the UK hinted at evolving market sentiments and potential shifts in monetary policy.

Moreover, the week was packed with FOMC member speeches and critical data releases:

  • Consumer confidence indices and PMI data from Europe and the US provided insights into economic health.
  • The German Buba Monthly Report and policy report hearings indicated regulatory and economic shifts.

These developments not only catalyzed immediate reactions in currency markets but also set the stage for broader financial market trends. Notably:

  • FOMC member speeches offered glimpses into the U.S. monetary policy outlook.
  • PMI data from France, Germany, and the broader Eurozone reflected on manufacturing and services sectors’ health.
  • Consumer confidence and public borrowing figures painted a picture of consumer sentiment and government fiscal health.

Forex Economic Events Ahead

The upcoming week in the forex market is packed with significant economic events that are likely to influence market sentiment.

Here’s a closer look at what traders can expect:

  • Monday, Feb 26: The week kicks off with MPC Member Breeden speaking in the UK, potentially offering insights into future monetary policy directions.
    • The UK will also report on CBI Realized Sales, expected to show a figure of -33, indicating retail sector performance.
    • Additionally, MPC Member Pill’s speech could further influence GBP movements.
    • In the US, New Home Sales data is forecasted at 680K, reflecting the health of the housing market.
  • Tuesday, Feb 27: Attention shifts to the UK with the BRC Shop Price Index y/y, which last stood at 2.9%, indicating inflationary pressures in retail prices.
    • Germany’s GfK Consumer Climate is anticipated at -29.0 from -29.7, offering insights into consumer sentiment.
    • Eurozone’s M3 Money Supply y/y and Private Loans y/y are expected to show slight increases, suggesting economic activity levels.
    • In the US, Core Durable Goods Orders m/m are forecasted at 0.2%, with Durable Goods Orders m/m at -4.7%, highlighting manufacturing sector trends.
  • Wednesday, Feb 28: The day is marked by the German Import Prices m/m and Italian 10-y Bond Auction, with the latter offering insights into investor confidence in Italian debt.
    • The US will release Prelim GDP q/q, expected at 3.3%, and the Prelim GDP Price Index q/q at 1.5%, alongside Goods Trade Balance and Prelim Wholesale Inventories m/m, painting a comprehensive picture of the economic landscape.
  • Thursday, Feb 29: The focus returns to Europe with French Final Private Payrolls q/q, German Retail Sales m/m expected at 0.5%, and a series of CPI and GDP reports from France, highlighting inflation and economic growth.
    • The Spanish Flash CPI y/y is anticipated at 2.8%. In the US, Core PCE Price Index m/m, Unemployment Claims, and Personal Income m/m are due, providing key indicators of economic health and consumer spending.
  • Friday, Mar 1: The week concludes with the Nationwide HPI m/m in the UK, expected at 0.2%, and Manufacturing PMIs from Spain, Italy, France, and Germany, offering a snapshot of the manufacturing sector’s health across Europe.
    • The Eurozone’s Core CPI Flash Estimate y/y and CPI Flash Estimate y/y are keenly awaited for inflation trends.
    • In the US, the focus will be on the ISM Manufacturing PMI, expected at 49.5, and Revised UoM Consumer Sentiment, along with Construction Spending m/m and ISM Manufacturing Prices.

Visit our Economic Events Coverage and Forex Signals page now for detailed forecasts and trading strategies.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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