February 2019

Canada will publish January inflation and Q4 GDP numbers this week, which should provide investors some clues as to the possibility of a near-term rate hike by the Bank of Canada amid a slowing economy. The CPI figures are due on Wednesday…

Economic releases out of Europe this week are unlikely to offer much new insight into the Eurozone economy but will nevertheless be watched closely as the European Central Bank’s March policy meeting nears. The European Commission’s…

USD/CNH had a strong bearish start on Thursday, with the price falling below a crucial support of the 38.2% Fibonacci retracement level of the upleg from 6.2350 to 6.9781, near 6.6949, creating a fresh seven-month low of 6.6861. From the…

The dollar index found strong resistance around the 97.20 obstacle, driving the price lower. Currently, the price has been developing in a sideways channel over the past five months with upper boundary the 97.50 resistance and lower…

December retail sales will be watched out of Canada on Friday at 13:30 GMT for clues on the prospect of rate increases by the Bank of Canada in 2019. As the Canadian economy loses some steam, the BoC has been forced to sit on the sidelines,…

NZD/USD has aggressively reversed back to the downside, dropping below the 23.6% Fibonacci retracement level of the upleg from 0.6423 to 0.6970, around 0.6840, and the mid-level of the Bollinger Band currently at 0.6830. Momentum indicators…

USD/JPY failed to hold gains above the 111 level last week but it refrained from crossing below the 50-day moving average (MA), following a sideway path instead. The USD/JPY pair is developing within the upper area of the ascending channel,…

It will be a pivotal week for the euro, as preliminary euro area PMI surveys will hit the markets on Thursday, at 09:00 GMT, and will be followed by the minutes of the ECB’s January meeting at 12:30 GMT. The PMIs are expected to have…

EUR/USD registered a three-month low at 1.1233 on Friday before closing negative for the second consecutive week. On Monday the pair managed to rise back above the 1.1300 level, with momentum indicators shaping a bearish-to-neutral picture…