Binary Option and Forex News Update 2/23/15 thru 2/27/15
Are we seeing currencies making themselves weak to stay strong? It appears that some are suspiciously brushing off strengthening data in order to spur economic growth in preferred sectors.
This is your binary option and forex currency market news update for the week of February 23rd.
Savvy traders are profiting by staying in tune to market fundamentals that impact their technical trades, right here with SmallMoneyMadeBig.com.
The highlights to look out for this week on your major currency pairings include:
The Euro – The standoff between Greece and the Power Haus German’s of the euro zone is turning out to be a game of chicken that will have the euro reeling back against your other major currency pairings either now or later. It seems to be inevitable that it’s going to be a bumpy road for the euro moving forward. If there is an agreement between Greece and the ECB (European Central Bank), expect to see a temporary surge in the euro. Even with ECB and the Germans acquiescing to re-negotiated terms for Greece, as the full picture comes into focus it will become quite evident that financing of more debt is a no win situation for both the Germans and the ECB.
On the other hand, if no agreement is reached, we can anticipate a tailspin for the euro. But after the dust settles and Greek default runs its course, don’t be surprised to see a surging rebound to the euro five or six months down the road.
The Loonie (CAD)– This week Governor Poloz speaks. With a rebound in oil prices and better than expected wholesale numbers this may have Governor Poloz turning a bit more optimistic going forward. Even with an optimistic front, don’t expect a hawkish tone to his verbiage. Caution will be the tone with a close eye for developments on the oil market forefront and peering at what will progress with the Fed’s stance on the U.S. economy.
The USD – The biggest release that will move the needle on your major USD pairings will be Fed Chair Yellen’s testimony to the Senate Banking Committee. Just as last week’s minutes revealed, there will continue to be a dovish spin in her prepared statement and for the Q&A that follows. Anticipate a deliberate tendency to down play economic momentum. This will be with good reason, as the “mixed bag” of numbers reveals that the U.S. economy has one foot on solid ground, but does not yet have both feet firmly planted.
You can only hold your cards close to your chest for so long before the winner is revealed. The weak are attempting to inherit the earth by playing their hands with a poker face that would make Kenny Roger’s “Gambler” blush with envy.
Remember, SmallMoneyMadeBig.com provides you this binary option and forex weekly news update to keep you in tune with what moves the market and why.
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