EUR/USD dips towards Macron's gap, sterling enjoys Javid's jump, focus on US consumer confidence and coronavirus news
Here's what you need to know on Friday, February 14:
extends pair EUR/USD EUR/USD It's lower, trading close to the "Macron gap" it recorded in April 2017. Investors are seeing the glass half empty, as recent data has disappointed. In addition, unlike the United States and the United Kingdom, Germany and other countries are blocking spending.
pair rise continues sterling/dollar GBP/USD After Prime Minister Boris Johnson forced former Treasury Secretary Sajid Javid out. Rishi Sunak, the new treasury secretary, is set to act aggressively and unlock fiscal spending, especially on infrastructure. Government stimulus brings relief to Bank of England BOE From the pressure of lowering interest rates, which consequently pushed the sterling higher. The budget scheduled for March 11th may be delayed.
Corona Virus: The number of infected cases approaches 63,000 on the second day after the authorities in China changed their methodology for counting cases, adding CT scans in addition to laboratory tests. Larry Kudlow, a senior adviser in the White House, expressed disappointment with the level of transparency in Beijing about the respiratory disease.
Markets are temporarily down Thursday, amid a jump in cases, but quickly recovered. However, the yen and gold retained some of their gains as safe haven assets.
Focus on US consumer confidence data later today. January retail sales numbers are poised to show another month of growth in sales. Later, the University of Michigan Consumer Sentiment Index for February is also expected to point to a higher confidence. On Thursday, inflation surprised the market with stable CPI CPI base at 2.3% per annum.
settled oil prices With the registration of West Texas Intermediate crude WTI Summit above $51 despite ongoing tensions within OPEC OPEC and its allies.
back off Cryptocurrencies After challenging new peaks. . is traded Bitcoin Bitcoin Near the $10,000 area.