EUR/USD Treads Water Ahead of the Fed Minutes
The pair trades with caution as investors appear to be on the sidelines, awaiting today’s accounts of the Fed’s last policy meeting, amidst heightened expectations around the terminal rate
Page 9 of 68
The pair trades with caution as investors appear to be on the sidelines, awaiting today’s accounts of the Fed’s last policy meeting, amidst heightened expectations around the terminal rate
GBPUSD has charted a lower peak followed by a lower trough on the daily time frame (left). This is a defined down trend. Yesterday, GBPUSD appreciated following its flash PMI beats. However, there is no follow through today.
The RBNZ delivered a smaller hike than the previous record 0.75% move, but remained hawkish and maintained its view that more tightening is needed
Watch today’s US Open for commentary on the UK PMI beat that lifted GBP/USD, hawkish minutes by the Reserve Bank of Australia, the narrowing differential between the Fed and the ECB and more
The Canadian trimmed CPI y/y came in at 5.1%, less than the previous 5.3% y/y and below the consensus of 5.2% y/y. This measures consumer inflation but excludes the 40% most volatile items. Core retail sales also declined, printing at -0.6% m/m/ against the -0.1% expected.
The UK services sector expanded in February according to today’s preliminary data, sending the Pound higher
The accounts of this month’s policy decision by Australia’s central bank had a hawkish tone, but the pair is cautious, as markets now brace for a slew of US data and the minutes of the US Fed
The pair is having a bad month and posted another losing week, but managed to avoid new year lows on Friday and now trades with caution ahead of Wednesday’s policy decision by the central bank of New Zealand
FXCM’s USDOLLAR has charted a lower peak followed by a lower trough. This is a defined down trend.
The pair heads towards its best week of the year after this week’s hotter than expected consumer and factory gate inflation from the US, as well as continued hawkish comments by Fed officials
Watch today’s US Open for commentary on the latest data from the US that put pressure on Wall Street, the lower than expected UK inflation and its impact on GBP/USD, the recent earnings releases and more
Exchange: ${getInstrumentData.exchange}
${getInstrumentData.bid} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.