Forex today witnessed a calm Asian session this Tuesday, with limited macro news reported while risk sentiment continued to drive the fx space. The Australian NAB business confidence numbers jumped to nine-month tops, but failed to have any major impact on the Aussie. Meanwhile, RBA Assistant Governor Ellis speech was also ignored by the Aussie traders. Its OZ neighbor, the Kiwi, remained better bid amid broad-based US dollar weakness, as the global stock markets stabilized. However, towards the Asia closing, the Nikkei 225 index erased its gains and fell back in the red zone, knocking-off the USD/JPY pair closer to the 108 handle.

Main topics in Asia

Australia NAB business confidence jumped to 9-month high in January

The business confidence index rose by 2pts to +12 index points, its highest level since April 2017, beating the estimate of 10.00, according to National Australia Bank (NAB) business survey 2018. 

Nikkei up cautiously in the new week, following accelerated declines from record highs

The Nikkei 225 Index is looking to make up lost ground, trading up into 21,600.00 in Tokyo markets following three weeks of accelerating declines from a recent high of 24,200.00 less than a month ago.

PM Abe has not reappointed Kuroda as BOJ's governor

Japanese Prime Minister Abe told parliament on Tuesday that he has not reappointed Kuroda as the BOJ governor when asked by an opposition lawmaker about the media reports.

BoJ’s Kuroda: Japan economy needs persistent monetary easing

The Bank of Japan (BoJ) Governor Kuroda was on the wires last minutes, via Reuters, making his scheduled speech in Parliament.

Key Focus ahead

After a dull start to the week, Tuesday’s macro calendar offers a slew of economic releases from the UK docket, of which the CPI report is of major significance. The UK inflation numbers will set the future monetary policy path for the BOE. Moving on, the US calendar remains empty for the second straight session, with the FOMC member Mester’s speech likely to offer some incentives to the NA traders.

GBP/USD - Inside day at 61.8% Fib, eyes UK CPI

The GBP/USD pair created an inside day candle yesterday, i.e. the spot traded within the high and low of Friday. 

EUR/USD trying to break resistance to challenge 1.2350

EUR/USD is testing hard into resistance at 1.2295 and looks set for a bullish break if it can manage a convincing close over the current consolidation area.

EUR/GBP takes rest at 0.8880 ahead of UK CPI release

The two-day rally or the "v" shaped recovery in EUR/GBP from Thursday's low of 0.8732 seems to have come to halt below the 0.89 handle in the last 12 hours. 

UK: Key events today – Nomura

Analysts at Nomura are out with a brief preview of the UK’s inflation data that are lined up for release today at 0930 GMT.

Key Events:

 

GMT
Event
Vol.
Actual
Consensus
Previous
Tuesday, Feb 13
06:00
 
 
48.3%
08:15
 
0.9%
1.8%
08:15
 
0.3%
0.2%
09:30
 
-0.7%
0.8%
09:30
 
4.1%
4.1%
09:30
 
5.7%
5.1%
09:30
 
3.0%
3.3%
09:30
 
0.3%
0.3%
09:30
 
0.2%
0.4%
09:30
 
4.2%
4.9%
09:30
 
2.3%
2.5%
09:30
 
0.7%
0.1%
09:30
 
-0.6%
0.4%
09:30
 
2.6%
2.5%
09:30
 
2.9%
3.0%
11:00
 
106.2
104.9
13:00
 
 
13:55
 
 
0%
13:55
 
 
3%
16:30
 
 
1.48%
21:30
 
 
1.05M
21:45
 
 
-0.8%
23:30
 
 
1.8%
23:50
 
0.2%
0.6%
23:50
 
0.0%
0.1%

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

GBP/USD defends 1.1900 after mixed UK Retail Sales

GBP/USD defends 1.1900 after mixed UK Retail Sales

GBP/USD is off the lows but remains vulnerable amid mixed UK Retail Sales and broad USD strength. The UK Retail Sales surprised positively, with a 0.3% rise MoM in July. On an annualized basis, UK consumer spending fell 3.4% vs. 3.3% expected. 

GBP/USD News

EUR/USD drops towards 1.0050 amid recession woes, hawkish Fed bets

EUR/USD drops towards 1.0050 amid recession woes, hawkish Fed bets

EUR/USD holds lower ground near the monthly bottom, approaching 1.0050 as the US dollar trades firmer amid a sluggish European morning. Fears of German recession, geopolitical concerns and hawkish Fedspeak weigh on the major currency pair.

EUR/USD News

Gold: Firmer DXY directs bears towards $1,730

Gold: Firmer DXY directs bears towards $1,730

Gold price takes offers to renew monthly low near $1,750 during early Friday morning in Europe. The bullion prices register the five-day downtrend as the US dollar bulls cheer recession woes, as well as firmer US data and hopes of the Fed’s aggression vis-à-vis rate hikes.

Gold News

AVAX price will give holders an opportunity to get out before another 20% crash

AVAX price will give holders an opportunity to get out before another 20% crash

AVAX price is in a tough spot as it approaches the end of its uptrend that has been ongoing for two months. While bearish as the altcoin looks, a minor relief rally or bounce could help investors cash out before another leg down. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures