Forex news and forecast

Here are some recent forex news and forecasts:

News:

  1. US-China Trade Talks Resume: The US and China have resumed trade talks in Beijing, with both sides looking to reach a deal to end the trade war. The talks are expected to focus on issues such as intellectual property protection, technology transfers, and agricultural imports.
  2. UK Parliament Votes on Brexit: The UK Parliament has voted on the Brexit deal, with the majority rejecting the agreement. This has led to uncertainty over the UK's exit from the EU, with some predicting a no-deal Brexit.
  3. US GDP Growth Slows: The US GDP growth rate has slowed to 2.1% in the fourth quarter of 2019, down from 2.3% in the previous quarter. This has raised concerns over the health of the US economy.
  4. ECB Cuts Interest Rates: The European Central Bank (ECB) has cut interest rates to a record low of -0.5% to stimulate the eurozone economy.
  5. US Job Market Strong: The US job market has remained strong, with the unemployment rate falling to 3.6% in January. This has led to expectations of further interest rate hikes by the Federal Reserve.

Forecasts:

  1. USD/JPY: The USD/JPY pair is expected to continue its upward trend, driven by the strong US job market and interest rate hikes. Target: 110.50.
  2. EUR/USD: The EUR/USD pair is expected to weaken further, driven by the ECB's interest rate cuts and the ongoing Brexit uncertainty. Target: 1.10.
  3. GBP/USD: The GBP/USD pair is expected to remain volatile, driven by the ongoing Brexit uncertainty. Target: 1.30.
  4. AUD/USD: The AUD/USD pair is expected to strengthen, driven by the strong Australian economy and the RBA's interest rate cuts. Target: 0.70.
  5. USD/CAD: The USD/CAD pair is expected to weaken, driven by the strong Canadian economy and the Bank of Canada's interest rate cuts. Target: 1.30.

Technical Analysis:

  1. USD/JPY: The USD/JPY pair has broken above the 108.50 resistance level, indicating a strong upward trend. The next target is 110.50.
  2. EUR/USD: The EUR/USD pair has broken below the 1.12 support level, indicating a strong downward trend. The next target is 1.10.
  3. GBP/USD: The GBP/USD pair has broken above the 1.30 resistance level, indicating a strong upward trend. The next target is 1.35.
  4. AUD/USD: The AUD/USD pair has broken above the 0.68 resistance level, indicating a strong upward trend. The next target is 0.70.
  5. USD/CAD: The USD/CAD pair has broken below the 1.32 support level, indicating a strong downward trend. The next target is 1.30.

Economic Indicators:

  1. US Non-Farm Payrolls: The US non-farm payrolls report is expected to show a gain of 175,000 jobs in February, down from 225,000 in January.
  2. Eurozone Inflation Rate: The eurozone inflation rate is expected to remain unchanged at 1.3% in February.
  3. UK GDP Growth: The UK GDP growth rate is expected to slow to 0.2% in the fourth quarter of 2019, down from 0.4% in the previous quarter.
  4. Australian Unemployment Rate: The Australian unemployment rate is expected to remain unchanged at 5.2% in February.
  5. Canadian GDP Growth: The Canadian GDP growth rate is expected to slow to 1.3% in the fourth quarter of 2019, down from 1.7% in the previous quarter.

Please note that these are just forecasts and should not be taken as investment advice. It's always important to do your own research and consider your own risk tolerance before making any investment decisions.