|Day's Range||7 - 7.021|
|52 Week Range||6.6648 - 7.1839|
It’s been a tough week for the bulls as the spread of the coronavirus continues to change the market dynamics. Even the U.S is likely to be impacted…
After a turbulent month in foreign exchange markets, China’s onshore yuan (CNY) appears to have hit a sustainable stability range
It was a Risk-off Thursday, with the S&P500; down 0.5% heading into the close and Europe’s Stoxx600 closed 0.9% lower. US 10y yields slipped 5bps to 1.52%, levels not seen since early February.
The US market is closed for Presidents Day, so in the absence of an unexpected headline shock action could be a bit muted as it typically is during a US holiday weekend.
The British pound is showing limited movement, after pushing above the 1.30 level on Thursday. Investors are keeping a close eye on U.S. retail sales reports, which will be released at 13:30 GMT.
The British pound remains close to the 1.30 level and could challenge this key line before the end of the week. Investors are keeping a close eye on U.S. consumer inflation releases, which will be published at 13:30 GMT.
Another low volatility day keeps the USD/CNY within a short-term bearish pattern. Key price levels are close by to help show the way.
The British pound continues to trade slightly below the key 1.30 level. The star performer on Tuesday is the New Zealand dollar, which has jumped over one percent following a hawkish rate statement from the New Zealand central bank.
The British pound is having a quiet week, but traders should be prepared for stronger movement, with the release of Preliminary GDP at 9:30 GMT. We’ll also get a look at manufacturing production, a key event.
USD/CNY weakens today while maintaining near-term uptrend price structure. Pattern still points to higher prices.
It was a week to forget for the pound, which fell over 2 percent. Investors are focused on fourth-quarter GDP, which will be released at 9:30 GMT.
Minor pullback on USD/CNY completed at 38.2% Fibonacci zone with one-day bullish reversal triggered. Higher prices seem most likely next.
It’s a busy day ahead. China’s trade data and German industrial production numbers will be in focus ahead of U.S stats later in the day.