In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic…
Forex today: markets are on holidays
- Oil is rising because of the drop in the US drilling activity.
WTI is slightly above $65.12 a barrel, Brent is climbing to $70.However, the oil market is still under pressure because of the concerns about the US-Iran nuclear deal and trade wars’ worries.
- The US dollar is a little bit lower today. Investors are waiting for ISM Manufacturing PMI data (17:00 MT time). The forecast is already lower than the previous data, if the actual one will be weaker than the forecast, it will push the greenback down.
Moreover, trade wars’ tensions are still an answered question.
- Today’s Tankan manufacturing index and non-manufacturing index data appeared to be weaker for the first time in two years. Large Japanese manufacturers displayed a concern because of the strong yen that negatively affects manufacturers.
The yen has left a few points but remained near 106. Let’s look if the US dollar finds a support to break the resistance at 106.50.
- The Australian dollar could not take an advantage of the US dollar’s weakness and lost some points. The AUD/USD pair is not showing a big movement because today is a bank holiday in Australia and New Zealand. However, we may see changes tomorrow and more likely they will not be in favor of the Aussie as the RBA is anticipated to keep the interest rate on hold (7:30 MT time). But let’s see, maybe we will hear something encouraging from Mr. Lowe.
- Bitcoin is standing still for the third day. The cryptocurrency managed to cross above the psychological level of $7,000, however, the break was not expansive. Maybe the first quarter’s results affected bitcoin. SEC’s restrictions, social networks’ bans, cryptocurrency exchanges’ hacking, and bitcoin futures had a negative impact on bitcoin during the quarter.
- As the US dollar is depreciating, all major currencies are catching a chance to strengthen their positions. There is no important data today. Moreover, do not forget that some markets are still on holidays. So trading volumes are anticipated to be low.
American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…