Categories: Market Overview

FxPro Daily Insight for February 20

Market overview European and US indices recede from the highs reached overnight. Nasdaq added 7.7% this month, jumping from the levels near 9000 to 9700 and to just a couple of steps from the critical 10000 milestone.

In the FX, the dollar continues and widens its rally against major currencies. DXY has been adding 0.3% today, reaching 99.80, the highest level since April 2017. USDJPY continues to fly upward, breaking 112.00 to the highs of 2019. AUDUSD crashed to 0.6620, pulling the NZDUSD’s selloff.

In the UK, retail sales were above expectations (0.8% y/y versus 0.6% y/y expected), it failed to keep the Pound from weakening below 1.2970 – the lows since November. Among macro data, attention is now on US oil inventories and the release of preliminary PMIs for eurozone countries on Friday morning.

Oil growth stalled at $59 per barrel of Brent and $ 53 at WTI – near Wednesday’s closing levels.

Gold rally continues, bringing the price of a troy ounce to $ 1,617 – a seven years highs.

Important events, GMT (Exp.): 13:30 US !! Philly Fed Manufacturing Index (10.1) 15:00 EA ! Consumer Confidence (-8.2) 16:00 US !! Crude Oil Inventories (3300K) 23:30 Jp !!! Consumer Price Index (+0.7% y/y) 08:30 Ge !!! Preliminary Composite PMI (50.8)

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

Share
Published by
The FxPro Analyst Team

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies