Merchants are in for busy buying and selling periods forward with the U.S. retail gross sales and FOMC assembly minutes on faucet.
Will these catalysts bust EUR/USD from its short-term downtrend?
Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/USD’s pattern line assist after the RBA printed its newest assembly minutes. You should definitely try if it’s nonetheless a sound play!
And now for the headlines that rocked the markets within the final buying and selling periods:
Contemporary Market Headlines & Financial Information:
U.S. producer costs soar by 1.0% in Jan vs. 0.5% anticipated, 0.4% in Dec
Canadian Actual Property Affiliation: nationwide common promoting worth up by 4.9% and hit new report highs whilst listings plunged support snowy climate in Jan
NY manufacturing index up from -0.7 to three.1 in Feb however under the anticipated 12 studying
NZ World Dairy Commerce worth index reached 1,516, simply shy of the all-time report of 1,573 set in April 2013
AU Westpac-MI Main Index improved from -0.1 to +0.4 in Jan, says above-trend progress over the following 3-9 months possible
China’s PPI up by 9.1% in Jan, the weakest tempo since July 2021
China’s CPI reveals 0.9% progress from a yr in the past in Jan vs. 1.5% December uptick and anticipated 1.0% enhance
UK inflation jumped to a 30-year excessive of 5.5% in Jan, placing strain on the BOE
Biden says Ukraine invasion nonetheless ‘potential’ regardless of Russian claims of troop withdrawal
U.Okay. has not seen proof of Russian withdrawal from Ukraine’s border – protection minister
Canada’s CPI report at 1:30 pm GMT
U.S. retail gross sales at 1:30 pm GMT
U.S. industrial manufacturing at 1:30 pm GMT
U.S. NAHB housing index at 3:00 pm GMT
U.S. FOMC assembly minutes at 7:00 pm GMT
Japan’s commerce stability at 11:50 pm GMT
Australia’s jobs report at 12:30 am GMT (Feb 17)
Use our new Forex Warmth Map to rapidly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️
What to Watch: EUR/USD
Talks of Russia withdrawing a few of its troops on Ukraine’s border eased geopolitical considerations and helped the euro acquire floor towards the greenback.
Can the bulls preserve their momentum at this time?
Uncle Sam will publish its retail gross sales information and later at this time we’ll see the FOMC publish its newest assembly minutes. We all know from Powell’s final announcement that Fed members are speaking rate of interest hikes, sufficient for some merchants to imagine that we’ll see one as quickly as March.
If at this time’s experiences affirm a March fee hike, or if we see hints that the Fed will increase charges by greater than 25 foundation factors, then EUR/USD might return to its downtrend.
Sustained buying and selling under the pattern line resistance and the 100 SMA might result in a dip again to the 1.1300 zone.
However EUR/USD has already damaged above the 100 SMA in addition to a pattern line resistance that’s been holding because the begin of the month.
If the FOMC assembly minutes fails to disclose one thing new, or if extra merchants worth in easing tensions within the European area, then EUR/USD might lengthen its intraweek uptrend.