USD/CHF and EUR/CHF rose to tactical highs. What's next?
GBP/USD falls by more than 100 pips
The reports that the UK Prime Minister Boris Johnson would table a motion for general election pulled the British pound down. At the moment, the cable is testing the ground below the 50-period SMA. Bears are focused on reaching the 1.2747 support level. Bulls will need to push the pair above the 1.2834, 1.2864 and 1.29 levels to test the resistance at 1.2926. After that, buyers may focus on the 1.2980 level.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 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.