FxPro Daily Insight for February 12

Market overview Stock markets continue its recovery, and all the new comments of politicians are optimistic about the impact of coronavirus on the economy. China believes that it will achieve its economic goals, the US (namely, Fed head) convinced the US economy is robust, New Zealand (namely, RBNZ) insisted that the impact of the virus on the economy was limited to the 1H20. NZD in the leaders of the day, adding more than 1% to USD. Oil turned to growth, adding 3.3% today and pushing”commodity” currencies (NOK, AUD, CAD) up. Market focus shifting to inflation data from Europe and the United States set to release on Thursday.

Important events (GMT):

19:10 NZ !!! RBNZ Governor Adrian Orr Speaks 23:15 AU !! RBA Governor Philip Lowe Speaks 07:00 Ge !! Consumer Price Index (1.7% y/y) 13:30 US !!! Consumer Price Index (2.5% y/y)