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In other news for the USD, Trump said he did not like the Fed policy concerning rates. In his opinion, the interest rate hikes are not necessary as the country does not have problems with inflation. However, he did not talk to Fed Chair Powell on this topic.
As a result of this news, the USD index dropped yesterday to the support at 95.23. Up to now, the currency is stabilizing. The level of PPI which will be released today at 15:30 MT time can affect the currency too. It's expected to increase by 0.2%. If the actual data overcomes the forecast, the USD will be supported. In that case, the resistance is at 95.85. If the released figures are lower, the USD will fall back to the support at 95.23.
At the same time, Irish foreign minister added confidence of a Brexit deal on the border. He thinks that evidence on the deal become more certain in the next 6 weeks. As a result, the British pound rose. Monthly GDP growth and manufacturing production that were released today moved GBP/USD down a little as the figures came out lower than expected. On H1, the pair declined immediately after the release. However, the Brexit deal has a stronger impact on the pair. As a result, the pair managed to recover. If there is more news or statements, concerning the Brexit decision on the Irish border, the GBP will be supported. In that situation, the resistance is at 1.3182. If the US dollar is stronger after the economic release, there are risks of the fall to the support at 1.31.
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…
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…
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