Forex Market View 2/26/2019

Forex Market ViewThe Australian and New Zealand Dollars are the clear out performers among the actively traded currencies on Monday. The risk correlated commodity currencies getting a boost from the news of substantial progress towards a trade deal between the US and China.

This has fueled additional upside in US equities which have now staged a massive recovery from the December bottom.

The pound pushing up on the news that Theresa May and Angela Merkel have discussed delaying Brexit.

Ongoing uncertainty around the event and reports from CBI that the UK services industry is that its gloomiest since the 2009 financial crisis have managed to temper sterling demand.

US economic data on Monday is second tier and won’t factor into trade especially with the market wanting to hang tight ahead of Fed chair Powell’s two-day testimony which kicks off tomorrow.

 

GBPUSD has edged up 0.1% in the last session stochastic is currently overbought.

Netflix has stock has bounced upwards in the last session gaining 1.7%  ultimate oscillator enters overbought territory.

Gold has performed a minor correction gaining 0.3% in the last session the Williams oscillator enters the positive area.

Crude oil has gained 0.4% in the last session the MACD is currently negative.