USD/CHF and EUR/CHF rose to tactical highs. What's next?
Aussie and Kiwi rise vs. US dollar in late trade
On Monday, the Australian and New Zealand dollars rallied because Friday's dismal American economic reports kept weighing on the US dollar and financial markets started focusing on the Fed’s policy gathering scheduled later in the week.
The currency pair AUD/USD inched up 0.30% being worth 0.8028.
The major US currency was pressured after Friday’s data disclosed that American industrial and manufacturing output suddenly tumbled in August.
Additionally, the US Commerce Department reported that in August retail sales suddenly sagged by 0.2%.
Later this week, the major US bank was supposed to leave interest rates intact, but it could provide indications on when it actually intends to start unwinding its balance sheet.
The currency pair NZD/USD soared 0.36% being worth 0.7316.
Financial markets seemed to have revived from the fact that North Korea fired another missile over Japan. That’s the isolated regime’s second missile launch over Japanese territory for the last two weeks.
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.