23-02-2017 - Afternoon23-02-2017 - Morning22-02-2017 - Afternoon22-02-2017 - Morning21-02-2017 - Afternoon21-02-2017 - Morning20-02-2017 - Afternoon20-02-2017 - Morning17-02-2017 - Afternoon17-02-2017 - Morning16-02-2017 - Afternoon16-02-2017 - Morning15-02-2017 - Afternoon15-02-2017 - Morning

Dukascopy Forex Overview: 23-02-2017 - Afternoon

Dukascopy Bank analytic desk report
Published: 23/02/2017 15:52
Dukascopy Technical Analysis

USD/CAD falls below 1.3150 level
"The week wraps up with Canadian CPI, which has posted twostraight declines, as inflation levels remain weak. However,the markets are expecting a 0.3% gain in the January report."
- Market Pulse (based on investing.com)

The US Dollar is in a free fall against the Canadian Dollar, as thecurrency exchange rate was scoring new heights on Wednesday untilthe FOMC Meeting Minutes were published.
Dukascopy Fundamental Analysis
UK economy expands 0.7% in Q4 of 2016
The British economy showed first signs of Brexit vote influence, as the overall growth slowed, seeing the annual GDP growth rate holding steady at 2%, behind expectations for a 2.2% increase. Nevertheless, according to the second GDP estimate released by the Office for National Statistics on Wednesday, the UK economy expanded 0.7% in the Q4, the strongest performance since the last quarter of 2015, compared with a 0.6% growth pace observed in the previous quarter
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Trade Pattern Idea
EUR/RUB 4H Chart: Channel Down
The common European currency trades against the Russian Ruble simultaneously in three different scale descending channel patterns.>>

USD/NOK 4H Chart: Channel Up
The Greenback is trading in an ascending channel pattern against the Norwegian Krona, as the currency exchange rate has formed this medium term pattern in the aftermath of a breakout from the previously active descending channel pattern. >>
Expert Commentary
"For the end of the first quarter this year, I see the Euro rallying to 1.15 versus the US Dollar, while the EUR/JPY currency pair I expect to trade at 115."
- Christian Apelt, FX strategist at Helaba, on Euro zone and EUR
Overall, we anticipate the US Dollar to weaken because of the President Donald Trump’s recent rheto-ric. We have already seen some uncertainty over the last couple of days and I would expect the Greenback to be quite over-worried, responding to political developments months after the election. >>
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Press Review
Bloomberg
Gluskin Sheff's Rosenberg Is Skeptical of U.S. Growth
David Rosenberg, chief economist and strategist at Gluskin Sheff, explainswhy he is not expecting sustainable U.S. economic growth to reach nearfour percent.
Dukascopy Bank Sentiment Index
June Release
The positive momentum in the Asia-Pacific region seems to have continued in June even despite soft global demand and signs that the Chinese investment-led recovery is coming to an end, as both short and long run sentiment indices soared in the measured month.
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Economic Research

Forecasting Models for Exchange Rate
The science of prognostics has been going through a rapid and fruitful development in the past decades, with various forecasting methods, procedures and approaches flooding the economic world. It is estimated that there are more than 100 prediction methods, and sometimes the diversity makes it difficult to choose the one that would do the trick.
Dukascopy Aggregate Technical Indicator
Dukascopy Bank presents a new research product - the aggregate technical indicator. The new tool will indicate the strongest signals on major currency pairs. Dukascopy Aggregate Technical Indicator for 30 min and 1H time frame charts for major pairs for the last 144 periods till 15:30 GMT.
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Disclaimer:
This overview can be used only for informational purposes. Dukascopy Bank SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
“News that Trump formally ordered the US to withdraw fromthe Trans-Pacific Partnership trade deal was largely expectedbut investors are watching to see just how far theprotectionist policies go.”

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