USD/CHF and EUR/CHF rose to tactical highs. What's next?
Greenback surges as yields soar
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill.
Trump informed House Republican lawmakers that he’s on the verge of leaving Obamacare in place and moving on to tax reform if they don’t get behind new healthcare legislation and also back it in a vote on Friday.
In fact, Thursday’s postponement of the vote knocked the greenback as well as stock markets, but the major American currency was given breathing space because Treasury yields rose after Wall Street shares trimmed losses in order to close little changed.
On Friday, in Asia equities took heart and firmed, with Japan's Nikkei N225 gaining 1%.
The greenback surged 0.35%, reaching 111.340 yen, drifting away from a four-month minimum of 110.620 reached overnight.
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.