Futures Rebound From Overnight Lows As Bond Rout Slows zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
2/17/2021 10:58:33 AM GMT
Notes/Observations
- UK Jan CPI beats expectations but remain far from BOE target
- Italy PM Draghi stresses that his new govt cannot succeed without support from Parliament, need to pass reforms and address emergencies
- Bitcoin fever overtake coronavirus in headline coverage
Asia:
- Japan Jan Trade Balance: ¥323.9B v ¥625.0Be; Exports Y/Y: 6.4% v 6.6%e; Imports Y/Y: -9.5% v -5.5%e
- RBA Assist Gov Kent noted that its policy measures saw A$ 5% lower than otherwise and would continue to put downward pressure on currency. Current level of AUD currency at upper end of recent range; to make modest changes to how RBA uses FX swaps
2/17/2021 1:54:22 PM GMT
EUR/USD Current Price: 1.2033
US Treasury yields at fresh one-year highs providing support to the greenback.
US Retail Sales soared by 5.3% in January, far better than anticipated.
EUR/USD is technically bearish and at risk of breaking lower.
The EUR/USD pair has fallen sharply throughout the first half of the day, accelerating its slump after the release of US Retail Sales, which rose in January 5.3%, much better than anticipated. The core reading, Retail Sales Control Group, jumped from -2.4% to 6%, also beating expectations. Also, the country published the January Producer Price Index, which was up 1.7% yearly basis.
EUR/USD: Poised to extend its slump on a break below 1 2015 forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.
2/12/2021 3:40:21 PM GMT
USD/JPY retreats below 105, finds support at 104.55, recovers.
Chairman Powell: The US labor market remains weak.
Chairman Powell: Fed has no plans for rate increases or bond program reductions.
US Treasury rates move higher after Wednesday low.
FXStreet Forecast Poll sees no immediate increase in USD/JPY.
The USD/JPY reneged on its breakout promise this week dropping below 105 on Tuesday but support at 104.55 held on Thursday. The descending channel is increasingly distant and a declining a draw with the upper border below 103. Movement in the pair is tied to improvement in the US economy and Treasury rates.