This is what you need to know to trade today Tuesday February 14:
Markets remain quiet early on Tuesday as investors stay on the sidelines as they prepare for key macroeconomic data releases that will add to volatility. In the European economic agenda will be published the data on the change in employment and Gross Domestic Product for the fourth quarter. Early in the American session, the US Bureau of Labor Statistics will publish the inflation data of the Consumer Price Index (CPI) for January.
See: US Consumer Price Index Preview: Dollar May Slump Violently, Every 0.1% Core CPI Matters
After a cautious start to the week, markets turned risk positive in the second half on Monday, with Wall Street’s main indices posting gains of more than 1% on the day. For its part, the US dollar struggled to maintain its strength and the DXY Dollar Index closed in negative territory. As of early Tuesday, US stock index futures are flat with the DXY index holding slightly above 103.00, while the 10-year US Treasury yield is trading sideways near 3.7%.
During the Asian session, data from Australia has shown that the National Australia Bank business confidence index improved to 6 points in January from -1 in December. As a negative fact, the Westpac Consumer Confidence Index fell to -6.9% in February from 5% in January. The pair AUD/USD has been unable to consolidate Monday’s gains after the mixed data and is now trading flat above 0.6950.
The Reserve Bank of New Zealand has reported that inflation expectations for the first quarter fell to 3.3% from 3.62%. He NZD/USD has lost traction after this data and has turned negative on the day below 0.6350.
As expected, the Japanese government has nominated Kazuo Uedo as the next governor of the Bank of Japan on Tuesday (Boxwood). Former Financial Services Agency (FSA) chief Ryozo Himino and career central banker and BoJ executive Shinichi Uchida have also been nominated as the two deputy governors. He USD/JPY It has not reacted immediately and is now moving sideways around 132.00.
The pair EUR/USD took advantage of US dollar weakness in the second half on Monday and closed in positive territory above 1.0700. The pair advances towards 1.0750 by early European morning Tuesday.
He GBP/USD gained bullish momentum on Monday and erased all losses suffered on Friday. The UK Office for National Statistics has reported on Tuesday that the ILO unemployment rate was unchanged at 3.7% in the three months to December, as expected, with the change in applicant count coming in at -12,900. Wage inflation, as measured by median earnings excluding bonuses, rose to 6.7% per year in the same period from the previous 6.5%. As an initial reaction to these figures, the pair has extended its rally beyond 1.2150 on Tuesday.
He gold price failed to rebound on Monday and recorded its lowest daily close in a month, slightly above $1,850, while the 10-year US bond yield held steady at around 3.7%. In the early hours of Tuesday, XAU/USD stages a technical correction and remains in positive territory above $1,860.
He Bitcoin It fell to its lowest level in almost three weeks below $21,400 on Monday, but erased its losses to close the day flat. As of early Tuesday, BTC/USD is trading flat just below $21,800. He ethereum it posted small losses on Monday and is trading just short of $1,500 on Tuesday.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
