Forex Preview: USD Pairs In Focus As U.S.-China Trade Talks Begin

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1. USD Pairs In Focus As U.S.-China Trade Talks Begin
USD pairs and U.S. related assets will remain in focus on Monday as investors were unable to shake worries about global growth, U.S. politics and the Sino-U.S. trade war. The safe haven dollar remains near a six-week top against major currencies. A new round of trade talks began in Beijing on Monday, with higher-level talks involving U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday and Friday. If the negotiations do not progress sufficiently by March 1, the U.S. has said it intends to raise tariffs on $200 billion of imports from China to 25 percent from 10 percent.*

2. Why Electronic Arts Jumped 17% in January
Shares of Electronic Arts (EA) gained 16.9% in value last month, according to data from S&P Global Market Intelligence. The stock rebounded amid positive comments from one analyst who upgraded the stock last month. Also, EA gained three new sponsors for its Madden professional esports league. On Friday EA finished the week 16.05% higher to close at $97.60.**

3. Oil Prices Fall As U.S. Rig Count Rises
Oil prices fell by around 1 percent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns. It should also be noted that a refinery fire in the U.S. state of Illinois, resulted in the shutdown of a large crude distillation unit, which could cause crude demand to fall. U.S. West Texas Intermediate (USOIL) crude futures were at $52.25 per barrel at 7:40 GMT, down 47 cents, or 0.9 percent, from their last settlement. Meanwhile, International Brent crude oil futures (CL_BRENT) were down 22 cents, or 0.34 percent, at $61.89 a barrel.***

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This Week’s Most Important Upcoming Events:

Time Cur. Imp. Event Forecast Previous
Monday, February 11, 2019
All Day Holiday Japan – National Founding Day
09:30  GBP GDP (MoM) 0.0% 0.2%
09:30  GBP GDP (QoQ) (Q4)   0.3% 0.6%
09:30  GBP GDP (YoY) (Q4) 1.4% 1.5%
09:30  GBP Manufacturing Production (MoM) (Dec) 0.2% -0.3%
09:30  GBP Monthly GDP 3M/3M Change 0.3%
Tuesday, February 12, 2019
13:00  GBP BoE Gov Carney Speaks  
15:00  USD JOLTs Job Openings (Dec) 7.063M 6.888M
17:45  USD Fed Chair Powell Speaks  
Wednesday, February 13, 2019
01:00  NZD RBNZ Interest Rate Decision 1.75% 1.75%
01:00  NZD RBNZ Rate Statement  
02:00  NZD RBNZ Press Conference  
09:30  GBP CPI (YoY) (Jan) 1.9% 2.1%
Tentative  USD Building Permits 1.290M 1.328M
13:30  USD Core CPI (MoM) (Jan) 0.2% 0.2%
15:30  USD Crude Oil Inventories 1.263M
19:10  NZD RBNZ Gov Orr Speaks  
23:50  JPY GDP (QoQ) (Q4)   0.4% -0.6%
Thursday, February 14, 2019
07:00  EUR German GDP (QoQ) (Q4)   0.1% -0.2%
13:30  USD Core Retail Sales (MoM) (Dec) 0.0% 0.2%
13:30  USD PPI (MoM) (Jan) 0.1% -0.2%
13:30  USD Retail Sales (MoM) (Dec) 0.1% 0.2%
Friday, February 15, 2019
09:30  GBP Retail Sales (MoM) (Jan) 0.2% -0.9%
13:30  USD Core Retail Sales (MoM) (Dec) 0.1% 0.2%
13:30  USD Retail Sales (MoM) (Dec) 0.2% 0.2%

 

This Week’s Upcoming Earnings Reports:

Name Symbol Earnings Date
United Corporations UNC Feb 11, 2019
Michelin MICP Feb 11, 2019
MGM MGM Feb 13, 2019
Lithia Motors LAD Feb 13, 2019
Cisco CSCO Feb 13, 2019
Nestle NESN Feb 14, 2019
Credit Suisse CSGN Feb 14, 2019
Koninklijke DSM DSMN Feb 14, 2019
Renault RENA Feb 14, 2019
Coca-Cola KO Feb 14, 2019
CME Group CME Feb 14, 2019
Avon Products AVP Feb 14, 2019
RBS PLC RBS Feb 15, 2019

 

*Source: The Motley Fool, Feb 11, 2019 2:48 AM ET
**Source: Forbes Feb 11, 2019 3:53 AM ET
***Source: Reuters Feb 11, 2019 03:07 AM ET

 

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