Page 24 - Urrencies News Today

The Pound Sterling (GBP) booked the first weekly gain against the US Dollar (USD), snapping a five-week bearish momentum.

- German Ifo business sentiment data which were in line with analyst expectations.

Bets on the potential timing of interest rate cuts by the Federal Reserve ruled the sentiment once again in the FX galaxy this week.

The key events today will be the February flash PMIs from the euro area, US, and UK.

On Thursday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1018 as compared to the previous day's fix of 7.1030 and 7.1854 Reuters estimates.

A review of things you need to know before you sign off on Thursday; BNZ trims mortgage rates, trade deficit falls, credit cards out of favour, inflation expectations stinger, poverty progress?, swaps firm, NZD firm, & more

EUR/USD extended its recent uptrend after closing in positive territory on Wednesday and touched its highest level since early February above 1.0850 on Thursday.

Negative sentiment triggered by hints of the Fed being in no hurry to slash rates were offset by the strong earnings boost from the corporate sector..

The US Dollar Index (DXY) saw a slight upswing to 104.10 in Thursday’s session following the release of mixed economic activity data and positive labor market figures.

The upward momentum of the Australian dollar paused as it faced selling pressure upon approaching the key 0.6600 hurdle vs.