Last week review: US dollar index facing selling pressure between 101.75 and 102 spotted with a bearish H&S pattern in on the daily chart and triple top (101) spotted on the weekly chart (closing basis). US dollar traders weigh on next rate hike.
The brand new week focus on Fed. The US economy doing well and Yellen is Optimistic. Market participants looking for a March rate hike clue.
Friday’s review: In December 2016 the current account of the euro area recorded a surplus of €31.0 billion.
The Conference Board Leading Economic Index for the U.S. increased 0.6 percent in January to 125.5, following a 0.5 percent increase in December, and a 0.2 percent increase in November, its strongest rise in 19 months.
What’s on today?
New Zealand Producer output prices rose 1.5 percent in the December 2016 quarter, and producer input prices rose 1.0 percent, Statistics New Zealand said today.
Japan Trade Balance forecast 0.28T vs 0.36T
German PPI forecast 0.3% vs 0.4%
RBA -Minutes of February 2017 Monetary Policy Meeting of the Reserve Bank Board 21 February 2017, 11.30 am AED.
Markets are likely to be quite today as US holiday.
USD-FOMC Member Kashkari and Harker Speaks on Tuesday. US existing home sales and FOMC Meeting Minutes on Wednesday. Unemployment Claims on Thursday. New home sales on Friday.
EUR- France CPI, France manufacturing, and services PMI, Germany manufacturing and services PMI, EA manufacturing and services PMI on Tuesday. Germany Ifo Business climate, EA final CPI on Wednesday.
GBP- CBI Industrial Order Expectations on Monday. Public Sector Net Borrowing on Tuesday. GBP 4Q second prelim on Wednesday.
AUD- RBA minutes on Tuesday, RBA Gov Lowe Speaks and Wage Price Index q/q on Wednesday. Private Capital Expenditure q/q on Thursday. RBA Gov Lowe Speaks on Friday.
JPY- Trade Balance on Monday. Flash manufacturing PMI on Tuesday.