Wednesday 20th February: Markets turn their attention to the Federal Open Market Committee’s (FOMC) January meeting minutes today – expect volatility.
In the early hours of Tuesday’s segment, the Reserve Bank of Australia (RBA) in its February meeting minutes announced members agreed there was not a strong case for a near-term adjustment in monetary policy.
Tuesday 19th February: UK employment figures eyed in early London hours.
Pound sterling outperformed vs. its US counterpart Monday, in spite of a number of UK political headlines hitting the wires and a thin US session due to observance of Presidents' Day.
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Monday 18th February: Weekly technical outlook and review.
A break above 1.13 this week (and also the daily resistance at 1.1302) has the 1.1341 Feb 13 high to target on the H4 scale, shadowed closely by December’s opening level plotted at 1.1350.
Friday 15th February: Greenback preserves gains above 97.00 as price builds on gains off monthly supply-turned support area at 95.13-92.75.
UK PM May lost her motion vote Thursday by a margin of 303 to 258. The Tory rebel ERG group were partly responsible for her defeat, after they chose to abstain the vote as the motion would have ruled out a no-deal Brexit option.
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Thursday 14th February: The greenback preserves gains above 97.00, weighing on trading peers.
A blend of reasonably encouraging US macroeconomic data along with second-rate European and British numbers, specifically UK inflation, weighed on the single currency.
Wednesday 13th February: UK inflation figures to potentially weigh on sterling further.
The EUR/USD dipped its toe into bullish territory Tuesday, staging a modest rebound off H4 support at 1.1271 and recapturing the 1.13 handle. Shattering a six-day losing streak, the pair took advantage of broad-based USD weakness.
Tuesday 12th February: Fed Chair Powell takes center stage today – remain cautious around this time.
Despite limited macroeconomic presence out of both Europe and the US, demand for the greenback intensified Monday.
