Important upcoming events and publications for February 6 (GMT):
13:30 The U.S. trade balance is in the markets focus due to Trump’s attention to trade agreements. The desire to increase purchases before the introduction of elevated tariffs exacerbated the deficit by the end of last year. The truce in the trade war allows economists to predict some deficit reduction that may put some support to the USD.
15:30 U.S. Crude oil inventories data can increase Brent and WTI volatility. This time it is expected the increase by 1.3M barrels. Decline or weaker growth can support oil, pointing to the high demand for crude in the United States. In addition, the Crude Oil can also be affected by the level of production, which reached a record 11.9M barrels per day.
See the detailed Economic calendar here
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- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
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