FX News Today
- UK PM May survived no-confidence vote by 325 to 306. GBP stalled below $1.29.
- EU officials have signalled some willingness for further talks and to an extension of the Brexit deadline.
- Stock markets have moved down from session highs, as caution still prevails amid the multitude of risks, including Earnings season ( even if its good so far) , concerns over US-Sino tensions, slowing world growth, while Brexit developments remain the key focus in Europe.
- Fed’s Beige Book: expansion still moderate, but all districts reported tight labor.
- USDJPY scaled to 1-wk high at 109.19; EURUSD has been narrowly orbiting 1.14.
- WTI future pulled back from a session high of $52.36 and is trading at USD 51.95 per barrel, with record high crude production in the US keeping a lid on prices.
Charts of the Day
Main Macro Events Today
- Eurozone’s Final CPI and Core – Expectations – Overall Eurozone HICP should be stable at 1.6% y/y, unchanged from the preliminary report and down from 1.9% y/y in November.
- US Philly Fed Manufacturing Index – Expectations – The Philly Fed index is seen rebounding to 10.0 in January, after December’s 3.5 point slide to a 2-year low of 9.4.
- US Unemployment Claims – Expectations – Initial jobless claims are estimated inching up 1k to 217k in the week ended January
Support and Resistance Levels
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Andria Pichidi
Market Analyst
HotForex
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