USD/CHF and EUR/CHF rose to tactical highs. What's next?
Aussie and Kiwi head north as traders are focused on Fed meeting
On Tuesday, the Australian and New Zealand dollars ascended versus their American counterpart because traders were looking ahead to the Fed’s anticipated policy meeting.
The currency pair AUD/USD tacked on 0.24% being worth 0.7977.
The Fed is generally believed to leave interest rates intact this week. Evidently, the major US financial institution could provide further indications on when it intends to start unwinding its balance sheet and on any future interest rate decisions.
Additionally, market participants were also monitoring American data on building permits as well as housing starts for further signs on the health of the US housing market.
The currency pair NZD/USD managed to go up 0.44% demonstrating an outcome of 0.7290.
Meanwhile, worries over tensions between the United States and North Korea were still subdued. However, they were prone to resume at any moment.
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
Australia will publish the employment change and unemployment rate on February 18, at 02:30 MT time.
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.