Bullet Report: Markets in Range, Focus on FOMC Minutes this week.
February 20, 2017 8:44 am
The dollar traded within narrow ranges versus its major peers as the U.S. markets remained closed for the Presidents Day holiday. The greenback against a basket of currencies traded flat at 100.92, having hit a low of 100.41 on Thursday, it’s weakest since Feb. 9
Data wise it is a slow day as both Canada and the USA markets are closed for a public holiday. For the week ahead, FOMC and RBA minutes are the main feature.
This early morning, European stocks are moving further into green territory with DAX leading the way 0.7% higher. Overnight, Chinese stocks closed 1.5% higher – their daily biggest gain after 6 months. On Friday. Dow Jones added 0.02% to hit a new all-time high, while SP%00 added 0.17% and Nasdaq 0.41%.
Recent comments from Fed officials were generally hawkish, maintaining the general view of three rate hikes this year. And there are some comments that raised the probability of a March hike mildly.
Much of the rally in US stocks during the past week has been fueled by Trump’s recent comment promising a “phenomenal” tax reform announcement within a few short weeks.
GOLD declined once again after raising till $1243.85 on Friday as the U.S dollar gained against all major pairs. It is currently trading around $1233.29.
The USDJPY was little changed at 113.09, not far from 112.62, its lowest since Feb. 9 touched on Friday. The EURUSD crawled up 0.1% to 1.0613 after dropping 0.6% on Friday. Elsewhere, GBPUSD was flat at 1.2414 after dropping 0.7% on Friday, after a surprise third monthly fall in British retail sales pointed to weakening consumer sentiment. The AUDUSD dipped 0.1% to $0.7670 but still in touch of a 3-1/2-month high of 0.7732 posted last week.
The dollar traded within narrow ranges versus its major peers as the U.S. markets remained closed for the Presidents Day holiday. The greenback against a basket of currencies traded flat at 100.92, having hit a low of 100.41 on Thursday, it’s weakest since Feb. 9
Data wise it is a slow day as both Canada and the USA markets are closed for a public holiday. For the week ahead, FOMC and RBA minutes are the main feature.
This early morning, European stocks are moving further into green territory with DAX leading the way 0.7% higher. Overnight, Chinese stocks closed 1.5% higher – their daily biggest gain after 6 months. On Friday. Dow Jones added 0.02% to hit a new all-time high, while SP%00 added 0.17% and Nasdaq 0.41%.
Recent comments from Fed officials were generally hawkish, maintaining the general view of three rate hikes this year. And there are some comments that raised the probability of a March hike mildly.
Much of the rally in US stocks during the past week has been fueled by Trump’s recent comment promising a “phenomenal” tax reform announcement within a few short weeks.
GOLD declined once again after raising till $1243.85 on Friday as the U.S dollar gained against all major pairs. It is currently trading around $1233.29.
The USDJPY was little changed at 113.09, not far from 112.62, its lowest since Feb. 9 touched on Friday. The EURUSD crawled up 0.1% to 1.0613 after dropping 0.6% on Friday. Elsewhere, GBPUSD was flat at 1.2414 after dropping 0.7% on Friday, after a surprise third monthly fall in British retail sales pointed to weakening consumer sentiment. The AUDUSD dipped 0.1% to $0.7670 but still in touch of a 3-1/2-month high of 0.7732 posted last week.
The post Bullet Report: Markets in Range, Focus on FOMC Minutes this week. appeared first on Forex.Info.
Source: Easy Forex Forex.Info
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