Currencies

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