Forex Today: Risk reset in Asia, UK retail sales, Trumpcare bill vote eyed
|A turnaround in the risk sentiment was seen in the Asian trades this Thursday, as the region’s equities tracked the recovery in the US stocks and treasury yields. The USD/JPY pair held onto recovery gains above 111 handle, while the Aussie lost footing amid higher treasury yields and subdued copper prices. The recovery in risk appetite, although was restricted, as markets remained cautious ahead of the main risk event for today, the Trumpcare Bill vote scheduled late-Wednesday.
Calendar-wise, we have a light European session ahead, with the UK retail sales data, BOE MPC member Broadbent’s speech and ECB LTRO announcement on the cards. Meanwhile, from the US docket, the weekly jobless claims and new home sales data will be published. Besides, speeches from the Fed chair Yellen and board member Kashkari remains on tap later today. Also, we have the SNB board member Maechler speech for the CHF traders.
Main topics in Asia
Banxico's Carstens: Peso moves a good example of the currency overreacts
The Bank of Mexico Governor Agustín Carstens crossed the wires last hours, via Reuters, commenting on the exchange rate and monetary policy.
Gold extends retreat further below $ 1250 as equities recover
Gold prices on Comex are seen on the back foot so far this Thursday, with the bears fighting back control somewhat amid an improvement in risk sentiment.
French election poll: Macron 65% to Le Pen's 35% in run off
The latest outcome of the Harris Poll revealed on Thursday that Macron leads the second round of the French presidential election race, leaving Le Pen behind by a big margin.
Trumpcare bill vote: Odds of passage by lawmakers improved - CNBC
CNBC provides fresh updates on today’s Trumpcare bill vote, noting that chances of the Trumpcare bill passage has improved.
Key focus for the week ahead
GBP/USD holding at an important juncture ahead of UK retail sales and Trump healthcare vote
The greenback paused its recent descent and held steadily in range as investors shift their focus on today's vote on the US President Donald Trump's American Health Care Act in House.
EurUsd has had a choppy session either side of 1.0800 (1.0775/1.0824), but contained below the 2nd Feb high of 1.0829, leaving the outlook unchanged.
Why the House Health Care Vote Matters
The current version of Trump's healthcare plan will be dead-on-arrival in the Senate yet Thursday's vote in the House is a blockbuster. We explain why.
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.