FED: March Economic Projections: Higher Inflation, Weaker Growth, Same Rates

Mar-14 21:28

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The MNI Markets Team's expectations for the updated Economic Projections in the March SEP are below....

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ASIA STOCKS: Coming Up In The Asian Session On Thursday

Feb-12 21:25
0300GMT1100HKT1400AEDTSouth Korea Dec Money Supply 
0345GMT1145HKT1445AEDTThailand Jan Consumer Confidence
0700GMT1500HKT1800AEDTPhilippines Feb BSP Overnight Borrowing Rate

ASIA STOCKS: Coming Up In The Asia-Pac Session On Thursday

Feb-12 21:23
2145GMT0545HKT0845AEDTNew Zealand Jan Card Spending Retail 
2205GMT0605HKT0905AEDTUS Fed's Waller Speaks on Stablecoins
2350GMT0750HKT1050AEDTJapan Jan PPI 
0000GMT0800HKT1100AEDTAustralia Feb Consumer Inflation Expectation
0000GMT0800HKT1100AEDTAustralia to Sell A$150 Million 2.5% 2030 Inflation-Linked...
0001GMT0801HKT1101AEDTUK Jan RICS House Price Balance
0110GMT0910HKT1210AEDTJapan Rinban Operations
0200GMT1000HKT1300AEDTNew Zealand 1Q 2Yr Inflation Expectation
0300GMT1100HKT1400AEDTSouth Korea Dec Money Supply 

USDCAD TECHS: Support Remains Intact For Now

Feb-12 21:00
  • RES 4: 1.5000 Psychological round number 
  • RES 3: 1.4948 High Mar 2003  
  • RES 2: 1.4814 High Apr 2003
  • RES 1: 1.4600/1.4793 Round number resistance / High Feb 3    
  • PRICE: 1.4309 @ 16:16 GMT Feb 12
  • SUP 1: 1.4270 Low Feb 5
  • SUP 2: 1.4261 Low Jan 20 and a key support
  • SUP 3: 1.4178 High Nov 6 ‘24
  • SUP 4: 1.4120 Low Dec 11

USDCAD is trading in a tight range and closer to recent lows. For now, the latest move down appears corrective and the primary uptrend remains intact. The Feb 3 cycle high reinforces and strengthens bullish conditions. The break higher confirmed a resumption of the uptrend and opens 1.4814 next, the Apr 2003 high. Key support to watch lies at 1.4261, the Jan 20 low. A clear breach of this level would alter the picture and signal a reversal.