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Despite Jerome's Powell hawkish speech, the greenback fell on Tuesday as investors returned to investment in risk assets…
Trading plan for February 27
Information is not investment advice
What are the most important events for today?
Let's start with the Canadian economic data. CPI level will be out at 15:30 MT time. The forecast is optimistic. Howver, the actual data will affect the market the most. If the actual figure outperforms the forecast, the CAD will be supported. In case of the lower reading the Canadian currency may suffer.
The next is the second part of the Fed Chairman's Testiffies. M. Powel will provide clues on the monetary policy and economic conditiona. Yesterday, the USD plunged based on the mixed comments. If today Mr. Powell is still cautious, the USD will keep falling. In the case of some hawkish comments, the American currency will recover.
Oil crude invetories data will become another important event you should pay attention to. On Monday, oil market suffered based on the Trump's tweet about OPEC and too high oil prices. If the economic data is positive for oil (the market need a decline), WTI and Brent will be able to appreciate.
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