2/26/2021 10:27:05 AM GMT | By FXStreet Team
USD/JPY hit 106.42, a fresh 2021 high, as bulls maintain the pressure. The pair has the 107.00 level in its sights, as FXStreet’s Chief Analyst Valeria Bednarik notes.
Key quotes
“Japan published February Tokyo inflation data, with the headline figure printing at -0.3% YoY, as expected. The core reading, which excludes fresh food prices, also printed at -0.3% YoY. Industrial Production was up 4.2% MoM in January but contracted 5.3% compared to a year earlier.”
“The US will publish January Personal Income and Personal Spending and the final estimate of the February Michigan Consumer Sentiment Index, foreseen at 76.5.”
2/25/2021 7:41:53 PM GMT
EUR/USD Current Price: 1.2190
The US Q4 Gross Domestic Product was upwardly revised to 4.1%, as expected.
US Treasury yields’ rally spurred demand for high-yielding assets.
EUR/USD retreats from fresh 2021 highs, holds above critical Fibonacci level.
The EUR/USD pair peaked at 1.2242, its highest since early January, finally breaching the 1.2170/80 resistance area. The pair rallied on the back of risk-appetite which dominated financial markets throughout the first half of the day but faded after US investors reached their desks. European indexes closed mixed, while US ones edged lower, erasing pre-opening gains. Meanwhile, US Treasury yields extended their rallies to fresh one-year highs, boosted by encouraging US data.
EUR/USD Forecast: Retreats From Fresh 2021 Highs, Holds Above Critical Fibonacci Level benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Following
2/5/2021 3:42:14 PM GMT
The RBA maintained the cash rate at record lows, expanded quantitative easing.
Hopes for a fresh stimulus package in the US maintained markets optimistic.
AUD/USD could extend its decline, but losses likely to be moderated.
It was a dull week for AUD/USD in terms of price action, as, after gapping lower at the opening, it is closing it unchanged in the 0.7610 price zone. The greenback was the clear weekly winner, appreciating sharply against most of its major rivals. Aussie’s declines were limited by the equities positive momentum, as Wall Street flirted with record highs.