{"id":17508,"date":"2021-02-26T07:24:11","date_gmt":"2021-02-26T06:24:11","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17508\/"},"modified":"2021-02-26T07:24:11","modified_gmt":"2021-02-26T06:24:11","slug":"the-forex-market-february-results","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/the-forex-market-february-results\/","title":{"rendered":"The forex market. February results"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1762,125
\n(-0,44%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,2153
\n(-0,24%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 31267,50
\n(-0,40%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 62,945
\n(-0,78%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013770
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

A month ago we started a new column. We look at the correlation of the major forex currencies against each other at the end of the month. Today is the last day of February and you can see what has changed during the month.<\/p>\n


\nForex <\/strong><\/p>\n

\"Forex\"<\/p>\n

What is this chart? It shows the major currencies traded by our traders. The reference date is 00.00 GMT on the 1st of January 2021. From this date, you may follow the rise or fall of each currency against a basket of currencies during the first two months of the year. The red line in the centre of the chart is 00.00 GMT on the 1st of February. That is, this line allows to visually separate January data from February data.
\nColours:
\nGreen – dollar
\nRed – GBP
\nYellow – Euro
\nWhite – Japanese Yen
\nBlue – Swiss franc
\nBrown – Canadian dollar
\nOrange – Australian dollar
\nBlue – New Zealand dollar<\/p>\n


\nWhat do we see on the graph?<\/strong><\/p>\n

\u2022 A trend that started in January is usually very hard to stop
\n\u2022 Above we see a clear confirmation of this rule. The strongest currency in January (Pound Sterling) continued to rise against other currencies
\n\u2022 And the weakest currency in January (Japanese yen) also remained the weakest in February
\nIf we get into a medium term trade, we should always understand what is happening with a particular currency pair globally. For example, at the end of January, if we like to trade on the trend, the best solution was to open a long position in the Pound\/Yen pair.
\nThe January monthly candlestick closed at 143.5 Yen per 1 Pound. On the last day of February the pair traded at 150 yen per \u00a31. The monthly increase was approximately 4.5%, which is a lot by forex market standards.<\/p>\n


\nWhat else do we see useful on this graph?<\/strong><\/p>\n

\u2022 Strong growth in commodity currencies: Canadian, Australian, New Zealand dollars. Of course, the optimism here is related to the pandemic ending soon. This means that the demand and price for raw materials is rising<\/p>\n

\u2022 Of particular note is the sharp fall in the Swiss franc. This could be an indication that smart money is not waiting for a collapse in world stock markets. As the franc is considered an asset asylum. Amid daily speculation that the stock market bubble is about to burst, the franc should be appreciating instead of cheapening.<\/p>\n

09.00 Switzerland’s Q4 annual GDP data
\n14.30 US Personal Spending in January
\n14.30 Chicago PMI for February in the US<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold\u00a0 1762,125 (-0,44%) EURUSD\u00a0 \u00a01,2153 (-0,24%) DJIA\u00a0 31267,50 (-0,40%) OIL.WTI\u00a0 62,945 (-0,78%) DAX\u00a0 \u00a013770 (+0,01%) A month ago we started a new column. We look at the correlation of the…<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nThe forex market. February results | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"A month ago we started a new column. 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