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Forex Fundamental Analysis-03/03/2022


  • General mood is “risk off”
  • Ukrainian official: Kherson now “completely” under Russian control
  • Australian Building Approvals soft -27.9% from talk of -2.9%

What’s Moving

Tight ranges again in Asia today, with the market beginning to square up ahead of tonight’s U.S. Initial Claims numbers and amid the ongoing Russian/Ukrainian conflict. Ranges were tight across all the majors, with good two-way flows seen over the day.

Australian Building Approvals were a shocker, being nearly ten times worse than expected, but the market largely shrugged this off.

Oil prices opened to early profit-taking in Asia after surging overnight, but have since continued their upside move, posting new highs.

Data tonight sees:

  • Services PMIs from France (E: 57.9), Germany (E: 56.6), Euro-zone (E: 55.8), U.K. (E: 60.8)
  • Euro-zone Unemployment (E: 6.9%)
  • U.S. Initial Claims (E: 223k)
  • U.S. Factory Orders (E: +0.8%)


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