
USD/CHF and EUR/CHF rose to tactical highs. What's next?
On Tuesday, the Australian dollar managed to gain moderately in Asia because the trade balance came in much better than expected with Australia's major bank set for an interest rate decision later in the day. Meanwhile, market participants are cautious ahead of a gathering this week between American President Donald Trump and Chinese President Xi Jinping in Florida supposed to be contentious on trade.
The US dollar index, normally estimating the greenback’s actual strength against a trade-weighted basket of six main currencies, declined 0.02% to 100.34.
Australia posted a trade balance surplus of A$3.574 billion, almost double the A$1.80 billion observed as exports added 1% and imports sagged 5%.
Later, the Reserve Bank of Australia is going to review its monetary policy and it’s expected to stay on hold at a record minimum of 1.50% for the benchmark rate.
The currency pair AUD/USD reached 0.04%, hitting 0.7609, USD/JPY hit 110.65, sliding 0.23%.
USD/CHF and EUR/CHF rose to tactical highs. What's next?
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.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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