Key events ahead today – Rabobank

Analysts at Rabobank noted the key events ahead today.

Key Quotes:

"Today we get the second estimate of German Q4 GDP ahead of the IFO survey, which is seen edging down slightly on all three measures (business climate, current assessment, and expectations).

Various BoE members are testifying in parliament, including Carney, Shafik, Vieghe, and Weale; we also hear from the ECB’ Nouy later in the day.

There’s a rate decision in Turkey, where no change is expected from the 7.50% repo rate.

Data-wise, in the US we also have the S&P/CS house price index (seen up 5.8% y-o-y), as well as consumer confidence (consensus: a slight dip to 97.2), and existing home sales (consensus: -2.5% after the 14.7% surge in December)."

Analysts at Rabobank noted the key events ahead today.


(Market News Provided by FXstreet) [...]

Changing of focuses in the markets – ANZ

Analysts at ANZ Bank explained that about the one thing we can say about market trends since the start of year has been the lack of one.

Key Quotes:

"That is not to say that there has not been enough for markets to focus on – far from it. There are a number of potential drivers that have been dictating market moves of late. These range from whether the US economy is large and resilient enough to counter headwinds elsewhere, the impact of geopolitical considerations (of late, Brexit, US politics and whether oil producers will be able to co-ordinate production cuts), whether economies are being driven by cyclical or structural influences, and if central bank actions still pack a punch."

"Sometimes the market will focus on one particular theme, sometimes several, with the upshot being a general lack of direction if these drivers give conflicting signals. Recent market action has been a case in point, with risk aversion late last week paving the way to improved sentiment overnight, taking equities and oil prices along for the ride."

"So far market volatility looks to have had a limited impact on the economic outlook, although the loss of economic momentum signalled by the European and US PMI data overnight was a worrying sign. With no immediate circuit breaker on the horizon to provide clearer trends, and the potential for headlines to continue to drive overall sentiment, the risk is that we could be stuck in the same holding pattern in six to 12 months’ time from now. A lack of clear direction and elevated volatility can be costly in markets, but it can also be fatal in economies."

Analysts at ANZ Bank explained that about the one thing we can say about market trends since the start of year has been the lack of one.

(Market News Provided by FXstreet) [...]

AUD/USD meeting offers in overbought territory

AUD/USD is currently being supported at 0.7220 and a touch above the 20 sma on the hourly chart located at 0.7213.The Aussie has had an impressive start to the week, supported on demand for low prices in the commodity sector, specifically with oil maki... [...]

EUR/JPY lowest levels since 2013

EUR/JPY is currently trading at with a high of 124.62 and a low of 124.08 so far.EUR/JPY has followed suit of the yen crosses, and bears are taking control as the Yen picks up momentum across the board. There is little to come in Asia as a catalyst... [...]