Monday, February 27, will rather belong to the group of boring ones. Not much will happen on the markets, because macroeconomic calendar for the day is not extensive. This does not mean, however, that markets are in abeyance. The most important information this morning seem reports from the British Isles that quite tarnished the valuation of the pound. What else happened in the last hour? What events should we follow in the course of today’s session? About this below:
The following reports of a possible independence referendum in Scotland once again undermine investors’ confidence in the stability of the British currency. The results of a nationwide referendum in June last year clearly showed that the Scots are opposed to the idea of leaving the UK EU structures.
After less than three years returns again the question of belonging, already highly autonomous region that is Scotland, to the rest of the Kingdom. Previous vote on Scottish independence took place in September 2014 years – then pound noticeably lost. GBP lost also today – at least 0.32% from Friday’s closing markets.
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On the opposite side of the market is, in turn, the Australian dollar. AUD is clearly taking the lead among G10 currencies significantly due to better macroeconomic data. At night we had results of Australian companies, which in the fourth quarter of last year increased their operating income up by 20.1% q/q. This value is much higher than the forecast (of 8.0% q/q), which translates into a better sentiment in pairs with AUD. Popular aussie works out today Friday falls:
What it is worth paying attention to?
During the morning, the number and weight of macroeconomic readings will not be surprising ,while definitely interesting shows up the afternoon. Already at 14:30 we will follow the report on durable goods orders of US companies in January.
At 16:00 will be published the report of the National Association of Realtors which describes monthly change in the level of pending home sales (The Pending Home Sales released by the National Association of Realtors is a leading indicator of trends of the housing market in the US It captures residential housing contract activity of existing single-family homes. As the housing market is considered as a sensitive factor to the US economy, it generates some volatility for the USD. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish)). At 17:00 will speak member of the FOMC, Robert Kaplan. Day on the markets will be completed by publication of the January report on changing the size of the trade balance in New Zealand.
