European Economics Preview: UK Unemployment Data Due

Labor market statistics from the UK and final inflation from France are the major reports due on Wednesday, headlining a light day for the European economic news.

At 3.00 am ET, Turkey’s unemployment data is due. The jobless rate is forecast to rise to 12.4 percent in December from 12.1 percent in the prior period.

At 3.45 am ET, the French statistical office Insee is slated to issue consumer prices for February. Prices are forecast to rise 1.2 percent annually, in line with preliminary estimate.

At 4.00 am ET, the Czech Statistical Office is scheduled to issue industrial and construction output and retail sales for January. Industrial output is expected to grow 7.9 percent annually, faster than the 2.7 percent rise seen in December. Economists forecast the Czech sales to climb 7.5 percent after rising 3.7 percent in December.

At 4.15 am ET, Swiss producer and import prices are due for February. Inflation is expected to rise to1.8 percent in February from 0.8 percent in January.

At 5.00 am ET, Italy’s Istat is set to publish retail sales for January. Economists forecast sales to grow 0.2 percent month-on-month in January, reversing a 0.5 percent fall in December.

At 5.30 am ET, the Office for National Statistics is scheduled to issue UK unemployment data. The jobless rate is forecast to remain unchanged at 4.8 percent in three months to January.

At 6.00 am ET, Italy’s Istat releases final consumer prices for February.

The material has been provided by InstaForex Company – www.instaforex.com

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Can We Predict GBP/USD Flash Crash With Long Short Term Memory Network Or Gated Recurrent Unit?

Deep learning is the buzzword now a days.

It is being claimed that deep learning is the technological revolution of this century.

Deep learning has performed miracles at Google, Facebook, Amazon and other high tech companies.

Soon we will be seeing auto driving cars. Uber, Tesla and Google are working hard on this.

Do you remember the GBP/USD Flash Crash that took place last year?

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Technical analysis of USD/JPY for March 15, 2017

USDJPYM30.png

USD/JPY is under pressure. The pair is trading below its 50-period moving average and is testing the 20-period one. The relative strength index is below its neutrality level at 50. Additionally, 115.25 is playing a key resistance role, which should limit the upside potential.

As long as this key level holds on the upside, look for a further drop toward 114.60 and even 114.25 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 114.60. A break below this target will move the pair further downwards to 114.25. The pivot point stands at 115.25. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 115.50 and the second one at 115.75.

Resistance levels: 115.50, 116.00, and 116.45

Support levels: 114.25, 113.80, and 113.35

The material has been provided by InstaForex Company – www.instaforex.com

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South Korea Jobless Rate Climbs In February

South korea’s unemployment rate increased in February, figures from Statistics Korea showed Wednesday.

The seasonally adjusted jobless rate rose to 4.0 percent in February from 3.6 percent in January.

In the corresponding month last year, the unemployment rate was also 4.0 percent.

On an unadjusted basis, the jobless rate climbed notably to 5.0 percent in February from 3.8 percent a month ago.

The number of unemployed people grew to 1.35 million in February from 1.01 million in January. A year ago, the jobless figure totaled 1.32 million.

The material has been provided by InstaForex Company – www.instaforex.com

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