Dollars Down Under benefit from China-US truce
|Today's Highlights
-
Yen and US Dollar weaken
-
Brexit debate sets direction for Pound
-
UK housing prices fall
Current Market Overview
The Australian and New Zealand Dollars are the strongest performers for today, as the markets seem to be happy with positive developments in the US-China trade negotiations. The idea of a 60-day extension to the trade truce is certainly welcomed.
Yen and US Dollar weaken
Data from both Japan and Germany showed both countries narrowly avoided technical recession at the end of last year. Nevertheless, such positive sentiment has not been reflected in the markets. For now, the Yen is the weakest currency for today, followed by the US Dollar.
Brexit debate sets direction for Pound
The direction of the Pound will be determined by the Brexit debate in the House of Commons today. More on that later…
UK housing prices fall
The latest UK house price survey from the Royal Institution of Chartered Surveyors (RICS) balanced dropped to -22 in January, below the expectation of -20. It seems that both buyers and seller activity continues to slip. London and the South East are leading price weakening at a national level. Because of the drop in sales, the lettings market is faring better, however, with demand rising. So, some good news for overseas property buyers in the UK…
The data diary for today
Eurozone Gross Domestic Product (GDP) and employment data will be the focus during European trading.
Later in the day, US Retail Sales, Producer Price Indices, Jobless Claims and Business Inventories will be released. Near neighbours, Canada, will also release their manufacturing sales data and New Housing Price Index.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.