US: Focus on Fed speak and housing data – TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities suggest that in today’s US session, the NAHB Housing Market Index (HMI) is released for February and is expected by the market to improve by 1 point to 59, helping to assuage concerns of an impending sharper slowdown in housing activity.

Key Quotes

“Ahead of the release Fed President Mester also speaks on the outlook at 8:50 ET. Her previous comments have turned dovish, emphasizing that policy does not have to be preemptive amid lack of inflationary pressures.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

EUR/USD remains bid, focus stays on 1.1900

EUR/USD has broken its two-day run of losses and is ticking modestly higher on Thursday, hovering around the 1.1880 area as the US Dollar struggles to find clear direction. Weekly Initial Jobless Claims rose more than expected, taking a bit of shine off the Greenback, but markets are largely in wait-and-see mode ahead of Friday’s US CPI release.

GBP/USD sticks to the bid bias, still below 1.3700

GBP/USD is trading with decent gains around 1.3650 on Thursday. Indeed, Cable is attempting to shake off the weakness seen earlier in the week amid another choppy session for the Greenback, while a run of disappointing UK data has so far failed to derail the pair’s tentative recovery.