USD/CHF and EUR/CHF rose to tactical highs. What's next?
Greenback dives in Asia on Fed rate views
On Thursday, the evergreen buck sagged in Asia because Fed minutes unveiled an increased debate about another rate lift in 2017 as well as the political backlash against Donald Trump's recent remarks on racist confrontations in Virginia definitely put pressure on the US currency.
The US dollar index, estimating the greenback’s value versus a trade-weighted basket of six crucial currencies, dived 0.16% trading at 93.26.
The currency pair USD/JPY reached 109.78, descending 0.37%, AUD/USD hit 0.7937, heading north 0.15%.
Meanwhile, Japan posted July’s trade balance figures with a surplus of about ¥492 billion, which is wider than the expected ¥392 billion, along with a 16.3% profit in imports, a bit weaker than the 17% revenue observed, and a 13.4% soar in exports, missing the 13.6% soar seen.
In Australia, the employment change demonstrated +27,900 jobs in July, surpassing 20,000 jobs actually expected for an unemployment outcome of 5.6% as observed.
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.