Market Review for February 23, 2016
Last night in Forex markets, GBP, EUR and other European currencies move lower on Brexit worries while USD and JPY are mixed. Commodity currencies are generally higher as rebound in oil and stocks continue. WTI crude oil April contract rose to a fresh high of 33.81 before retreating near 32.60. Also The People’s Bank of China set the CNY mid-point rate at 6.5273 per dollar on Tuesday, the weakest guidance rate since Feb. 5
BOJ governor Haruhiko Kuroda told Japan’s parliament that it’s not that the monetary base alone will pull up inflation or inflation expectations promptly and that BOJ aimed to raise prices through an increase in inflation expectations and a tighter gap in supply and demand under QQE.
On the data front, Germany released Final GDP at 0.3% and the German Ifo Business Climate at 105.7 missing the forecast of 107. Later on Inflation Report Hearings from the UK will dominate the traders interests same as the SNB Chairman Jordan speech. US will release CB Consumer Confidence and house data.
View our full economic calendar for a daily roundup of major economic events.
Data releases to monitor:
GBP: Inflation Report Hearings, MPC Member Haldane Speaks
CHF: SNB Chairman Jordan Speaks
EUR: Belgian NBB Business Climate
USD: CB Consumer Confidence, Existing Home Sales, MPC Member Haldane Speaks
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